Learn tips that will be appropriate for any kind of Limited Liability Company or limited partnership business that you or your clients may find themselves in.
Most business people start new multi-owner real estate businesses from LLCs to conduct them. The operating agreements of these LLCs are often complex and demand substantial skill on the part of lawyers drafting them. Unfortunately, many of these operating agreements fail to adequately address fiduciary issues, dispute resolution issues and other critically important business organization law issues, and most of them fail to address major new federal partnership issues under section 199A and the BBA partnership audit rules. This topic will teach you how to address these issues.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
Overview
- Should Your Clients Use a Limited Partnership or an LLC to Conduct a Real Estate Business?
- The Meaning of the Term "Real Estate Business" in This Topic
- What Should Be the Federal Tax Regimen of LLCs Your Clients Use to Conduct Their Real Estate Business?
Key Business Organization Law Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs
Key Partnership Tax Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs
- Allocations and Distributions in the Operating Agreements of Straight-up Partnerships
- Regulatory and Contractual Special Allocations
Key Real Estate Law Issues to Address in the Operating Agreements of Multi-Owner Real Estate LLCs
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on October 17, 2018.
Call 1-866-352-9540 for further credit information.
No Credit AvailableThis program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
John M. Cunningham
McLane Middleton, P.A.
- Former trial attorney with the Tax Division of the United States Department of Justice and a former member of the International Trade and Tax Department of Baker McKenzie LLP
- Author of Maximizing Pass-Through Deductions Under Internal Revenue Code Section 199A, published by Wolters Kluwer, an international legal and tax information service
- Practice is focused on LLC formations and other transactions involving LLC law and tax and on advising clients on how to structure their businesses to maximize their section 199A pass-through deductions, section 199A services have saved his clients tens of thousands of dollars in federal income taxes
- Author of Drafting Limited Liability Company Operating Agreements, also published by Wolters Kluwer, leading U.S. LLC formbook and practice manual
- Former chair of both the corporate and tax sections of the New Hampshire Bar Association
- Chaired and was a principal author of the Revised New Hampshire Limited Liability Company Act
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Why Lorman?
Over 34 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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