About the Course
Introduction
This CLE/CPE course will prepare real estate counsel to deal with crucial tax issues and avoid costly mistakes in structuring agreements for real estate partnerships and LLCs. The panel will offer best practices for drafting provisions that reflect effective tax compliance.
Description
LLCs and LPs are the preferred entities for private real estate investments. They allow for flexibility and flow-through tax treatment while providing liability protection to the investors.
Flexibility is accompanied by drafting complications involving items such as funding, allocation and distribution of profits, tax and audit decision making, and unique tax considerations of partners.
Real estate counsel and advisers must be mindful of the unique tax issues of real estate partnerships to avoid costly mistakes and to structure real estate partnerships and LLCs that maintain the economic advantage sought by the partners of the entity.
Listen as our authoritative panel examines the critical tax issues, consequences, and related business arrangements of LLCs and LPs. The presenters will explain and analyze the drafting techniques necessary to implement such mechanisms.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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CPE credit is not available on recordings.
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BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.
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Date + Time
- event
Tuesday, June 18, 2024
- schedule
1:00 p.m. ET./10:00 a.m. PT
- Capital contributions, tax distributions, and withholding
- Liquidation alternatives for LLCs and LPs: tax elections under Sections 704 and 754
- Tax audits
- Special partners: REITs, tax-exempts, foreign partners
- Capital account basics: Section 704(b)
- Tax allocations; built-in gain, additional capital contributions, and dilution provisions--Section 704(b) and (c)
- Liabilities: Section 752; Reg. 1.752-3(a)
- Disguised sales: Section 707
- Allocations of profits and losses; treatment of depreciation--Section 704(c); Reg. 1.704-3
- Tax boilerplate: areas of negotiation
- Target vs. layer cake allocation
The panel will review these and other key issues:
- What are the unique tax issues inherent in real estate LLCs and LPs?
- What are the common tax pitfalls in drafting real estate LLC and LP agreements?
- What are best practices for avoiding these drafting mistakes?
Learning Objectives
After completing this course, you will be able to:
- Identify tax issues inherent in real estate LLCs and LPs
- Recognize and respond to common tax pitfalls in drafting real estate LLC and LP agreements
- Determine changes that should be made to LLC and LP agreements
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules, supervising other preparers/accountants. Working knowledge of LLCs and partnerships.
BARBRI, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of Accountancy have final authority on the acceptance of individual courses for CPE Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI CE webinars-powered by Barbri-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
