Partnership Tax Planning and Practice

Partnership Tax Planning and Practice contains all of the information you need to conduct federal tax planning and accounting for partnership and other passthrough entities. It contains up-to-date, comprehensive coverage of tax issues that could impact partnerships and LLCs, with partnership tax planning and practice ideas integrated throughout the explanations.

Written by CCH tax law editors in collaboration with renowned consultant and tax attorney Charles R. Levun, JD, CPA, a partner in the Chicago-area law firm of Levun, Goodman & Cohen, LLP and an adjunct professor of law at the Illinois Institute of Technology Chicago-Kent Graduate Tax Program, it provides you with the expert information you need to get the job done.

Use the best tools for partnership tax planning. Contact us today — we’ll get you there.

Formats available / Update frequency

• IntelliConnect: Updated monthly. Includes access to CCH@Hand™.
• Print: 2 loose-leaf monthly volumes.

Partnership Tax Planning and Practice contains a variety of tools and resources that simplify the entire process, including:

• Easy-to-understand explanations that contain practical tax planning ideas that are updated monthly to reflect new developments.
• Monthly planning articles by recognized experts that are integrated into explanations.
• Explanations that contain numerous examples, practical planning points, cautions and checklists.
• State law summaries for partnerships, LLCs and LLPs.
• Choice of entity considerations.
• Sample election and compliance forms.
• Partnership Tax Watch, a monthly newsletter that reports on significant new federal and state developments; "Partner's Perspective" is a regular feature by Charles R. Levun that provides insights on structuring transactions.
• Choice of entity at a glance, which provides a concise comparison of S corporations, Partnerships and LLCs, tax advantages and disadvantages of each entity, and cross references into the main library content.
• Monthly newsletters that keep you up to date on the latest changes and developments for each entity.
• Convenient links that connect you to all critical primary sources.
• Primary sources that provide full text of each entity type and explains accounting for partnerships, such as Internal Revenue Code, federal tax regulations, IRS rulings, federal court decisions and committee reports.
• Practice aids that help you work more productively. For example:
  • Sample partnership agreements
  • Sample operating agreements
  • Compliance guidance by topic
  • Summaries of LLC statutes and other laws that impact LLCs for all 50 states and the District of Columbia
  • Frequently updated charts comparing state LLC and LLP acts
  • State filing requirements and fees for all 51 jurisdictions
  • Filled-in forms
  • Client letters

Overall topics include:

• Accounting for partnerships methods and periods
• At-risk rules
• Distribution and liquidations
• Entity classification
• Examinations/audit/litigation
• Formation/contributions/basis for partnership interest
• Limited liability companies
• Model partnership agreements
• Partnership income/allocations/separately stated items
• Partnership tax planning and entity structuring guidance
• Passive activity losses
• Special partners and partnerships
• State law summaries
• Tax practice and return preparation guidance
• Transactions between partners and partnerships
• Transfers of partnership interests

Use the best tools for partnership tax planning. Contact us today — we’ll get you there.

Formats available / Update frequency

• IntelliConnect: Updated monthly. Includes access to CCH@Hand™.
• Print: 2 loose-leaf monthly volumes.

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