{"product_id":"practical-guide-to-partnerships-and-llcs-9780808052579","title":"Practical Guide to Partnerships and Llcs","description":"\u003cp\u003ePractical Guide to Partnerships and LLCs (10th Edition)  by Robert Ricketts and Larry Tunnell  discusses the complex issues involving partnership taxation with utmost clarity. It uses hundreds of illustrative examples  practice observations  helpful charts and insightful explanations to make even the most difficult concepts understandable. The book reflects the authors penchant for communicating the pertinent facts in very direct language and creating a context for understanding the multifaceted issues and applying them to practice. This new edition fully reflects all the latest developments in this complex area. These include changes affecting: - partnership basis adjustments - transfers to partnerships of property with built-in losses - sale of an interest in a partnership with built-in loss property - disproportionate distributions from partnerships with built-in loss property - expensing and amortization of partnership organizational expenses - partnership treatment of the deduction for domestic production activities - recognition of cancellation-of-indebtedness income  and more In six parts  Practical Guide to Partnerships and LLCs covers the critical aspects of this complicated area  with individual parts focusing on partnership characteristics  funding  taxation of operations  partners share of partnership debt  disposition of partnership interest  and distributions. From choice-of-entity considerations to sales and liquidations  the entire breadth of partnership and LLC taxation is covered. Special attention is given throughout to the complex inter-workings of rules that bind  tax and control these entity operations. In the books first part focused on preliminary considerations  the basic underpinnings are presented covering key areas such as the \"check the box\" rules  \"anti-abuse\" rules  investment joint venture rules  the application of partnership taxation to LLCs  liability issues  passive loss limitations  audit issues  self-employment taxes  IRS classification  tax year and accounting method selection  and much more. The second part of Practical Guide to Partnerships and LLCs looks at property contributions and disguised sales  transactions between partner and partnership  and formation and start-up expenses. A special summary table for the tax treatment of pre-opening expenses is included. Next  the central core of the book explains the taxation of operations including partnership income rules  the pass-through concept  and the partners share of income and debt. Specific rules  reporting and compliance issues are thoroughly addressed. Form 1065 and schedules L  M-1  M-2  K and K-1 are also explained. Part four covers partners share of partnership debt  while disposition of a partnership interest is the subject of the fifth part of Practical Guide to Partnerships and LLCs. This section covers the amount and character of the sellers gain or loss  sales of partnership interest when the partnership holds ordinary income property and the effect of sale of partnership interest on the partnership. The final part covers distributions  including nonliquidating  liquidating  special distribution exceptions  and disproportionate distributions. This section also includes coverage of the death or retirement of a general partner and special rules for service partnerships. The detailed and substantial coverage in the text is enhanced by the abundant illustrations and special aids to understanding  such as flowcharts  offered throughout. Practical Guide to Partnerships and LLCs will be a great resource all tax practitioners  students and those interested in developing their knowledge of partnerhip and LLC taxation..\u003c\/p\u003e","brand":"My Store","offers":[{"title":"Default Title","offer_id":45647846047797,"sku":"ByrdShop_0808052578","price":168.28,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0627\/8139\/0901\/files\/9780808052579.jpg?v=1781697974","url":"https:\/\/atxbooks.com\/products\/practical-guide-to-partnerships-and-llcs-9780808052579","provider":"ATX Books","version":"1.0","type":"link"}