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Course Details

Buying And Selling LLCs And Partnerships

Webinar: ID# 1023089
Recorded CD
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About This Course:
Significant time and planning is required when preparing to buy or sell partnership interests. The process and tax consequences of a sale of partnership interest can be difficult to understand, and proceeding without the proper knowledge can result in adverse effects on your business.

This webinar will help lay the groundwork for establishing the tax effects on the buy and sell side of partnership interests, as well as the effects on the partnership itself.

After this class, you will be able to identify the gain or loss recognized by the seller of a partnership interest, the inside/outside basis for the partnership/partner, and the tax implications of a section 754 election. These areas, and several others, will be discussed in detail in order to prepare you for a successful purchase or sale of partnership interest.

Agenda

Tax Considerations for the Seller
  • Computing Gain or Loss
  • Character of Gain or Loss (Capital Gain vs. Ordinary Income)
  • Holding Period
Tax Considerations for the Buyer
  • Outside and Inside Basis
  • Capital Account
  • Distributive Share
Tax Considerations for the Partnership
  • Section 754 Election (Reconciling Outside and Inside Basis)
  • Technical Termination
  • Change of the Partnership's Taxable Year
About The Presenter


Cardell McKinstry
  • Director of M&A Tax Services for Habif, Arogeti & Wynne, LLP
  • More than 16 years of tax consulting experience he has specialized in advising private equity and corporate clients on numerous tax aspects of mergers and acquisitions including reorganizations, acquisition and disposition planning, cross border investments, repatriations, tax modeling, restructuring and bankruptcy tax planning
  • Clients cover a broad range of industries that include manufacturing, distribution, construction, transportation, business services, transaction processing, marketing services, telecommunications, industrial products, and financial services
  • Extensive experience advising private equity clients on domestic and cross-border transactions involving tax due diligence, tax structuring and tax/financial modeling
  • Advised clients on multi-national investments including a wide variety of tax aspects including tax efficient financing structures, local country tax planning, and transfer pricing
  • Extensive experience with consolidated group tax issues, including Section 382 analyses, earnings and profits, and stock basis studies
  • B.A. degree in accounting, M.S. degree in taxation, University of Alabama
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Buying And Selling LLCs And Partnerships
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