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New Treatise From CCH Focuses On Partnerships And LLCS
(RIVERWOODS, ILL., March 1, 2001) Practitioners who want an up-to-date
and comprehensive guide on the taxation of partnerships and limited liability corporations
now can turn to a useful, brand-new resource from CCH INCORPORATED (CCH), a leading
provider of tax and business law information and software. Partnerships and LLCs: Tax
Practice and Analysis, a new treatise by Thomas G. Manolakas, sets out the critical
concepts and issues in partnerships and LLC practice, illustrating its points with
hundreds of examples, practice observations, charts and insightful explanations. The
thorough coverage also makes the book an excellent choice for courses on the taxation of
these pass-through entities. (576 pages, $99. To order, call CCH at 1-800-248-3248 or
visit the CCH online store at http://tax.cchgroup.com/onlinestore.)
Covers Entire Breadth of Partnership Taxation
In six sections, Partnerships and LLCs: Tax Practice and Analysis explains in
detail the most important points of partnership and LLC practice. From choice of entity
considerations to sales and liquidations, the entire breadth of partnership and LLC
taxation is covered. Special attention is given throughout to the complex interworkings of
rules that control and tax these entities.
In a section on preliminary considerations, key areas such as the "check the
box" rules, "anti-abuse" rules, investment joint venture rules, the
application of partnership taxation to LLCs, liability issues, passive loss limitations,
audit issues, self-employment taxes, IRS classification, tax year and accounting method
selection are set out.
The second section looks at property contributions and disguised sales, transactions
between a partner and the partnership and formation and start-up expenses. A special
summary table for the tax treatment of pre-opening expenses is included.
Next, the book explains the taxation of operations including partnership income rules,
the pass-through concept and the partner's share of income and debt. Specific rules,
reporting and compliance issues are thoroughly addressed. Form 1065 and Schedules L, M-1,
M-2, K and K-1 are also explained.
Succeeding sections deal with the partner's share of partnership debt and disposition
of a partnership interest. The final section covers distributions, including
nonliquidating, liquidating, special distribution exceptions and disproportionate
distributions. This section also includes coverage of the death or retirement of a general
partner and special rules for service partnerships.
Appendices include federal tax forms and instructions, a case table, finding lists for
Internal Revenue Code sections and Regulations and a topical index.
About the Author
Thomas G. Manolakas has been teaching tax-related continuing education to lawyers and
CPAs across the nation for more than two decades and is the author of many program
materials for continuing education courses offered annually by the California CPA Society
and Bar Association. He has served as visiting or adjunct professor at the Hastings
College of Law of the University of California, the Business Taxation Program of the
Graduate School of Business at the University of Southern California, and the Graduate Tax
Program of the University of San Diego School of Law.
An attorney and CPA, Mr. Manolakas has been a member of the tax departments of Arthur
Andersen & Co. and PricewaterhouseCoopers, and is currently tax counsel to the law
firm Boutin, Dentino, Di Giusto, Hodell & West, Sacramento, Ca.
Availability and Pricing
For more information or to purchase the 576-page Partnerships and LLCs: Tax Practice
and Analysis, contact CCH at 1-800-248-3248 or visit the CCH online store at http://tax.cchgroup.com/onlinestore.
Single-copy price is $99 plus applicable tax, shipping and handling. Quantity discounts
and school adoption pricing are available.
About CCH INCORPORATED
CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in 1913 and has
served four generations of business professionals and their clients. The company produces
more than 700 electronic and print products for the tax, legal, securities, insurance,
human resources, health care and small business markets. CCH is a wholly owned subsidiary
of Wolters Kluwer North America. The CCH web site can be accessed at www.cch.com. The CCH Federal and State Tax
group web site can be accessed at http://tax.cchgroup.com.
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