Partnership Taxation: Level I Webinar

To provide CPAs, tax accountants, and finance professionals with a comprehensive understanding of basic and complex partnership taxation issues. You'll be equipped to identify problems and opportunities in transactions involving partnership formation, transactions with partners, basis, partnership distributions, allocations and other key areas.

• Introduction to, and formation of, partnerships
• The Section 199A qualified business income deduction
• Accounting methods and other operating rules
• Contributions of property and services
  – Minimizing tax recognition
  – Disguised sales
• Basis in the partnership interest
  – Inside vs. outside basis
  – At-risk basis vs. tax basis
  – Effect of partnership liabilities
  – Recourse vs. nonrecourse debt
  – General vs. limited partners
• Partnership distributions
• Stepped-up basis under Section 754
• Partner/partnership transactions
• Terminations, liquidations, transfers of interest and related compliance issues
• Passive activity rules
• Limited liability companies and limited liability partnerships

Marjorie Belliotti, Tax Manager, Maillie LLP

Marjorie Belliotti, CGMA, CPA, has over 35 years of experience in both public and private accounting, tax and business process improvement. She currently serves as a Tax Manager for Maillie LLP. A published author, she has developed and taught a variety of tax courses. Ms. Belliotti has expertise in a broad spectrum of US direct and indirect tax areas. Her previous experience includes Manager Income Tax Accounting and Compliance at Sunoco, Inc. and senior level positions at Air Products and Chemicals, Fujirebio Diagnostics, Inc. (FDI) and KPMG. She is proficient in spreadsheet development and has an extensive background in federal and multistate tax compliance and planning. As a public accountant, Ms. Belliotti served a diverse mix of clients in the retail, manufacturing, personal service and construction industries.