Outside Basis: Determining, Documenting, and Reconstructing for Partners, Members, and Shareholders
Recording of a 110-minute CPE webinar with Q&A
This webinar will walk tax practitioners through the process of calculating outside basis for partners, members, and shareholders of pass-through entities. Our panel of federal taxation experts will point out the differences between S corporation and partnership calculations, discuss IRS audit flags, and explain how to reconstruct outside basis when necessary.
Outline
- Outside basis: introduction
- Determining
- Calculating
- LCs vs. S corporations
- Distributions
- Handling losses in excess of basis
- Documenting
- Reporting
- Reconstructing
- Avoiding audit flags
Benefits
The panel will cover these and other critical issues:
- Properly documenting outside basis calculations
- How outside basis is calculated for shareholders, partners, and members
- Avoiding IRS audit flags for basis examinations
- Best practices for reconstructing and correcting outside basis for partners and shareholders
- Calculating losses in excess of basis and carryforward schedules
Faculty
Marcus E. Dyer, CPA, JD
Principal, Team Leader of Tax Controversy
Withum Smith+Brown
Mr. Dyer manages and reviews all aspects of federal and state tax compliance for C-corporation, S corporation and... | Read More
Mr. Dyer manages and reviews all aspects of federal and state tax compliance for C-corporation, S corporation and partnership returns, including consolidated C-corporation returns. He advises businesses on a wide array of tax matters including but not limited to reorganizations and employee benefits. He manages and reviews all aspects of the preparation of high net worth individual returns and conducts tax research on federal and state tax issues. He also handles tax controversies, including at the examination, appeals and collections stages.
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Emily Uppleger, CPA
Director
Prosperity Partners
Ms. Uppleger is a Certified Public Accountant with over 15 years of experience in middle-market public accounting,... | Read More
Ms. Uppleger is a Certified Public Accountant with over 15 years of experience in middle-market public accounting, specializing in tax and business consulting services. As an experienced tax generalist, she leverages her comprehensive knowledge of business and individual taxation to advise clients across diverse industries, including professional services, manufacturing, real estate, and high-net-worth individuals. Ms. Uppleger's expertise encompasses corporate, flow-through, and individual taxation. She optimizes tax savings through collaborative strategic planning while ensuring meticulous compliance with annual tax requirements.
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