CPE Webinars

Partnership and LLC Taxation—Advanced Issues (September 22, 2020, 1:00-2:00 PM CDT)

This course will look at issues that arise that complicate partnership taxation. We will look at the concept of §704(b) book capital and how it impacts partnerships looking to make use of special allocations to achieve tax goals. As well, we will consider the impact of the provisions of §704(c) that require taking account differences between basis and fair value for contributed assets, and that come into play in reverse §704(c) allocations when a new partner is admitted for cash.

The session will also look at key recent partnership tax developments, including the impact of CARES Act provisions on partnerships, as well as recent IRS and court rulings.

This course designed for:

  • Practitioners who advise their clients regarding planning for partnership and/or limited liability company transactions and/or who have review responsibility for partnership or limited liability company tax compliance. May also be suitable for public practice.

Learning Objectives:

  • Understand “book” capital accounts and their impact
  • Apply the special rules of §704(c)
  • Become aware of recent developments

Speaker / Author:

Edward K. Zollars, CPA is in public practice in Phoenix, Arizona as a partner with the firm of Thomas & Zollars & Lynch, Ltd. He is also a discussion leader with Loscalzo Institute. He has been in practice for over twenty-five years, specializing in tax issues for closely held businesses and individuals.

Ed has been professionally involved with both tax and technology issues, combing the two disciplines in starting the first tax podcast (Ed Zollars Tax Update, produced weekly dealing with current tax issues. He has been a member of AICPA Tax Division Committees dealing with tax and technology issues, and was the Tax Section’s representative on three occasions to the AICPA’s Top Ten Technologies project. Ed is also a member of the Phoenix Tax Workshop’s Advisory Committee, and currently serves on the Tax Legislation Liaison Committee for the Arizona Society of CPAs.Ed was selected as a Life Member by the Arizona Society of CPAs in May of 2010.

Ed is a co-author of the Arizona Income Tax Guide published by the Phoenix Tax Workshop, and has written articles published in Practical Tax Strategies and the Tax Adviser. He has been a frequent contributor to a number of professional tax discussion groups, and served as systems operator on the AICPA’s Accountants Forum in the mid 1990s.

He has spoken regularly on tax and technology topics since 1996, speaking before conferences sponsored by the AICPA and a number of state society of CPAs.

Software & Hardware Requirements:

  • 56k or Greater Internet Connection

Price (USD)

Standard: FREE


Course Code : ACE-19048_LZ

Course Level : Advanced
Course Type : Group Internet-Based
Format Type : Webinar
Field Of Study : Taxes

Event Date : 9/22/2020 1:00:00 PM

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