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Taxation Essentials of LLCs and Partnerships

by Larry Tunnell, Robert Ricketts

Part of the AICPA Series

Taxation Essentials of LLCs and Partnerships Synopsis

This book helps addresses the tax consequences of the most common transactions engaged in by limited liability corporations (LLCs)and partnerships. You will develop a level of comfort with the basic conceptual framework underlying partnership and LLC taxation, as well as gain an explanation of the tax consequences associated with issues most frequently confronted by tax practitioners. Topics covered include: basic tax structure of partnerships and LLCs; electing to be taxed as a partnership: check-the-box rules; tax consequences of partnership or LLC formation; partnership distributions; compensatory payments to partners; at-risk and passive activity limits; profit and loss allocations: general rules and restrictions; and reporting taxable income for partnerships and LLCs.

Book Information

ISBN: 9781119722328
Publication date: 11th August 2020
Author: Larry Tunnell, Robert Ricketts
Publisher: John Wiley & Sons Inc
Format: Paperback / softback
Pagination: 256 pages
Categories: Corporate finance,

About Larry Tunnell, Robert Ricketts

Larry Tunnell, Ph.D., CPA, is a professor in the accounting department at New Mexico State Univeristy. Robert Ricketts, Ph.D., CPA, is the Frank M. Burke Chair in Taxation, Department Head of Accounting at the Rawls College of Business, Texas Tech University. He has written numerous books on the taxation of partnerships and limited liability companies.

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