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Concurrent Session Onsite and Online

PFP2309. Partner Divorce and Retirement - Breaking Up is Hard to Do

Our session will concentrate on breakup of professional partnerships, LLCs and PLLCs. A recent Tax Court decision provides guidance and highlights tax traps to avoid. We will analyze practice goodwill and client based intangible assets and how they are treated under various methods. The special partnership provisions applicable to sales and redemptions will be contrasted.

Learning Objectives:

  • Compare methods including sales and redemptions
  • Identify tax traps and benefits
  • Apply capital account rules and valuation
  • Analyze and distinguish partnership agreement provisions
Date/Time
CPE Credits
1.5
NASBA Field of Study
Taxes
Level
Intermediate
Prerequisites
3-4 years in the Profession
Advanced Preparation
NA
Session Tags
PFP
CFP