Instructor
Bruce Nelson
Instructor
Per Bruce on 6/12/2019:
Bruce M. Nelson, MA, is a CPA with more than 35 years’ experience in federal and state and local tax (SALT). Currently the editor-in-chief of the Journal of State Taxation, Bruce previously spent ten years as director of the SALT group at EKS&H, LLLP, three years with a law firm specializing in tax audit defense and litigation, and several years as a senior tax manager for Ernst & Young. Bruce earned a Bachelor of Arts degree from the University of Nebraska-Lincoln and a Master’s degree from Colorado State University.He is a frequent seminar speaker and teaches continuing education classes in tax for the Colorado Society of CPAs and the American Institute of CPAs. Bruce has published more than fifty tax articles in many publications including the Journal of Accountancy, Tax Executive, Journal of State Taxation, the Journal of Multistate Taxation, State Tax Notes,and Colorado Lawyer. He is the author of The Adviser’s Guide to Multistate Income Taxation and co-author of the Sales and Use Tax Answer Book.
-Bruce
Per Ashlee on 6/12/2019:
Bruce has more than 30 years of accounting experience in state and local tax. He has experience working with multistate public and privately owned businesses and leading the State and Local Tax (SALT) practice before leaving EKS&H. Prior to joining EKS&H, Bruce spent three years with a law firm specializing in state tax audit defense and litigation; two years as the Manager of Tax Policy at the State of Colorado; and before that, he was a Senior Tax Manager for several years in a “Big Four” accounting firm. Bruce has published more than forty tax articles in many publications and authored the Sales and Use Tax Answer Book.
In this four-hour presentation, Bruce Nelson, M.A., CPA, will focus on four perennially problem areas partnership tax –
– Capital accounts
– Basis
– Recourse and nonrecourse liabilities
– Sale of a partnership interest
Learn more about maintaining capital accounts, calculation of basis, partner’s liabilities, and the
sale of a partnership interest.
Distinguish between “book” allocations required under Section 704(b) and “tax” allocations required under Section 704(c).
Calculate the gain that can result from reallocation of liabilities when a partner joins a partnership.
Calculate a partner’s or member’s share of recourse and nonrecourse liabilities of a partnership or LLC.
Determine the tax consequences associated with the sale of a partner’s or member’s interest in a partnership or LLC.
Allocation of partnership and LLC income under IRC Section 704(b)
Allocation of partnership recourse and nonrecourse liabilities under Sections 752 and 704(b)
Adjustments to the basis of partnership or LLC assets
Sale of an interest in a partnership or LLC
None
Staff and managers in public accounting who assist clients with tax planning for closely
held LLCs and partnerships