Basis Calculations for Partnerships and LLCs
Book-ups, Step-ups, At-Risk Amounts, Allocating Liabilities, and Recourse and Non-Recourse Debt
Recording of a 110-minute CPE webinar with Q&A
This webinar will provide tax preparers and professionals advising partnerships and LLCs with a solid foundation for the calculation and maintenance of partners' basis accounts. The panel will discuss book-ups, step-ups, at-risk rules, and the corresponding debt allocations of recourse and non-recourse debt.
- Types of partnerships
- Annual increases and decreases to basis
- The interplay of basis and capital accounts
- Section 754 step-ups
- At-risk amounts and Form 6198
- Best practices for tracking partners' basis
The panel will review these and other crucial questions:
- What complexities should tax preparers be aware of when calculating basis for pass-through entities?
- What are the increases and decreases to consider for the basis calculation?
- When should a partnership's assets be stepped-up?
- What is the difference between inside and outside basis?
Amie Kuntz, CPA
Tax Senior Manager
Ms. Kuntz, CPA, is a Senior Manager with Eide Bailly LLP. She has 13 years of diverse experience working in both... | Read More
Ms. Kuntz, CPA, is a Senior Manager with Eide Bailly LLP. She has 13 years of diverse experience working in both private and public accounting including corporations, partnerships, individuals, and nonprofits, multi-state, international, as well as the manufacturing, and insurance industries. Ms. Kuntz holds a Masters of Accounting, with Tax focus from Iowa State University. Her published work has appeared in The Tax Adviser and on Thomson Reuters platforms.Close
Mike Laier, CPA
Manager, Pass-Through Tax Consulting Services
Mr. Laier is a manager with RSM US LLP’s Pass-Through Consulting Services group. His professional experience... | Read More
Mr. Laier is a manager with RSM US LLP’s Pass-Through Consulting Services group. His professional experience centers around partnership issues including transaction structuring, capital account maintenance, and debt allocation issues. Mr. Laier works primarily on private equity owned business in the middle market space.Close
Darren J. Mills, Esq., CPA, ChFC, CLU
Mills Law Office
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals... | Read More
Mr. Mills has more than 20 years of experience advising both middle market companies and large multi-nationals regarding complex federal and international tax issues. He also advises both strategic and financial buyers in tax due diligence and structuring as well as providing sell-side due diligence/structuring. He has taught classes on S Corporations at Seton Hall University and the University of Baltimore School of Law.Close
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