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U.S. Taxation of Partnerships: Advanced Topics

U.S. Taxation of Partnerships: Advanced Topics

  • Author:
  • Publisher: Kluwer Law International
  • ISBN: 9789403533834
  • Published In: May 2021
  • Format: Hardback
  • Jurisdiction: U.S. ? Disclaimer:
    Countri(es) stated herein are used as reference only

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  • Description 
  • Contents 
  • Details

    About this book:

    U.S. Taxation of Partnerships is a uniquely illustrative book that explores, analyzes, scrutinizes, and helps to resolve issues concerning accounting methods, anti-abuse rules, liabilities, dissolutions, mergers, and bankruptcy, with expert guidance on preparing partnership financial statements. With more than seven million businesses registered as partnerships in the United States—and increasing—it is incumbent for parties with business interests to keep abreast of the challenges about this sui generis form of business and its intricate body of tax law. 

    What’s in this book:

    Furnishing boxed examples and references to significant court cases, the author extensively elucidates the following key issues:

    • types of partnerships (LP, LLP, LLC, PTP);
    • the two concepts of partnerships;
    • partnership formation;
    • transactions between partnership and partners;
    • allocation of revenues among partners;
    • the partnership taxable year;
    • base erosion and anti-abuse tax (BEAT);
    • centralized partnership audit regime;
    • recourse and nonrecourse liabilities; and
    • special tax rules for publicly traded partnerships (PTPs).

    Vital abstract concepts are explained pragmatically. All formal requirements—filing the partnership tax return (Form 1065), reporting, preparing for an audit, and so on—are clearly illustrated with examples.

    How this will help you:

    As the pioneering book to describe the economics of partnerships comprehensively and concisely, this book offers a reliable and authoritative overview of the complexities of U.S. partnership taxation and dwells on the relevant rules in accessible language. It will be well appreciated by tax law practitioners, members of international and U.S. tax law associations, tax academics, and the international business communities with interests in the U.S.

  • List of Abbreviations 

    List of Figures

    List of Tables

    CHAPTER 1
    Partnerships: A Business Organization Form

    CHAPTER 2
    Partnership Formation

    CHAPTER 3
    The Two Concepts of Partnership

    CHAPTER 4
    Partnership Taxable Year and Accounting Methods

    CHAPTER 5
    Partnership Anti-abuse Rules and the BEAT

    CHAPTER 6
    Transactions Between Partnership and Partners

    CHAPTER 7
    Partnership Allocations

    CHAPTER 8
    Partnership Liabilities

    CHAPTER 9
    Partnership Distribution

    CHAPTER 10
    Partnership Financial Statements

    CHAPTER 11
    Partnership Tax Reporting

    CHAPTER 12
    Partnership Liquidation and Termination

    CHAPTER 13
    Publicly Traded Partnership

    CHAPTER 14
    Partnerships Merger and Divisions

    CHAPTER 15
    Centralized Partnership Audit Regime

    CHAPTER 16
    Partnership Bankruptcy

    Bibliography

    Glossary

    Table of Cases

    Index

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