- Identify the tax and non-tax advantages and disadvantages of LLCs and partnerships
- Describe how inside and outside basis is affected by liabilities, recourse and nonrecourse
- Discuss the impact of cash and property distributions
- Explain the tax consequences of a sale of an interest and distinguish such consequences from the tax consequences when a partnership or LLC is acquired or merges into another LLC or partnership
- Complete the case study to improve advocacy skills before the IRS
- Answer the question: Whom does the practitioner represent, the partnership or LLC or a partner or a member and potential conflicts of interest?
A basic course in LLCs/partnerships or equivalent knowledge and experience