Tax Planning for LLC & LLPs
 
Key tax planning steps:
 
  • The great tax nothing: Single-member limited liability companies
  • How the IRS views members or partners for Social Security purposes
  • Debt issues and problems in structuring LLC(s) and LLP(s), including loan guarantee issues, recourse and nonrecourse debt, and the at-risk basis rules
  • Death or retirement of a member or partner
  • Step-up in basis issues -- How to make the computations and elections
  • Property transactions between the LLC/LLP and its members or partners -- Inbound and outbound transactions
  • Compensation planning -- Use of guaranteed payments, distributive shares and Keogh plans
  • Sales of an Interest
 

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