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Tax Strategies for Partnerships Part 2: Operating Issues, by Wolters Kluwer

Tax Strategies for Partnerships Part 2: Operating Issues is brought to you by Wolters Kluwer

Join expert Greg White, CPA, as he discusses tax strategies for admitting new partners and redeeming existing partners’ interest with the least tax impact. We’ll cover tax planning ideas to optimize the use of §179 expensing and bonus depreciation. And we’ll take a deep dive into partner bad debts and unreimbursed expenses.

Publication Date: May 2022

Topics Covered

  • Planning techniques for admitting new partners and redeeming existing partners
  • Taking advantage of §734 step-ups
  • At-risk rules applied to LLCs
  • Passive activities: Should you be grouping at the partnership level?

Learning Objectives

  • Recognize and apply advanced planning techniques to minimize taxes in redemptions and other partner buyouts
  • Identify tax planning strategies to reduce partner-level taxes using strategic timing for §179 expense and bonus depreciation
  • Identify the late filing penalty per partner per month for returns filed in 2021
  • Identify the approximate cost of a questionnaire cost segregation study
  • Recognize how many situations §734 adjustments can occur in

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