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"Fundamentals of Flow-Through" Program

Seminar2020 Fundamentals of Flow-Through XXV


Day One
8:30 AM to 5:00 PM (Luncheon and presentation 12:00-1:30)

Setting the Stage for Planning and Compliance — Choosing the Optimal Entity

  • Deciding among partnerships, LLCs, S corporations and C corporations — the §199A deduction, computation of basis, permitted owners, permissive allocations, basis adjustments, amounts at risk, §1202 gain exclusion, §1045 rollovers and the like
  • Structuring entities to minimize self-employment tax exposure

Structuring the Flow-Through Entity

  • Using qualified S corporation subsidiaries and single-member LLCs
  • Structuring the admission of the service provider
  • Utilizing partnerships and LLCs to solve S corporation structuring limitations
  • Eliminating C and S corporation penalty taxes by utilizing partnerships and other mechanisms
  • Using partnerships and LLCs in everyday business and investment transactions

Monday Networking Dinners (6:30 PM)

Chicago TBA (October 26)
Washington, D.C. TBA (November 9)

Network with the faculty and fellow attendees and spend an informal evening sharing war stories

Day Two
8:00 AM to 4:00 PM (Lunch on your own 11:45-1:00)

Partnership Operational Issues

  • Partnership allocations made easy — how to structure and report partnership allocations of losses and liabilities under the §704(b), §704(c) and §752 regulations
  • The partnership §754 basis adjustment rules
  • Understanding the partnership hot asset rules
  • The ABCs of like-kind exchanges involving flow-through entities and dealing with the "cash-out" partner

2020's Most Commonly Encountered Partnership, LLC and S Corporation Tax Issues

Working Within the S Corporation Rules

  • Computing basis and AAA and understanding the differences
  • Working through the built-in gains rules
  • Income allocations and basis issues in the year of sale
  • Capitalizing the S corporation to facilitate tax-free returns of capital — when to use debt and when to use capital

This program is presented in a transactional format, with the faculty members using practical examples to illustrate the issues to be discussed. Questions will be taken from the audience at any time, as well as posed to the audience hourly throughout the program. An analysis of recent legislation and the latest cases, regulations and rulings will be integrated into each session. (Depending on audience participation, some of day one's program may be covered on day two; some of day two's program may be covered on day one or may not be covered orally.)