Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.
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Sec. 743(b) adjustments are complex, and multitier partnership structures only exacerbate that complexity. See an illustration of applying the Sec. 743(b) adjustments.
This article describes how IC-DISCs can enable companies that are qualified exporters in the United States to lower their taxes significantly.
This article examines whether a bad-boy guarantee changes an otherwise nonrecourse liability to a recourse liability.
This article analyzes new rules regarding the audit procedures for partnerships and describes important elections partnerships may make.
Some partnerships may be able to elect out of the new partnership rules, and this short article discusses that ability.
This article examines the potential application of Sec. 304 to transfers of interests in a partnership that owns corporate stock.
The private-equity group (PEG) space has become inundated with state income tax issues and traps for the unwary. This article illustrates this type of situation.
This article presents some important considerations the client should take into account before giving and LLC or limited partnership unit to charity.
This article discusses developments in income allocations, disguised sales, partnership distributions, terminations, and basis adjustments.