June 2001

Financial Pros to Discuss Flow-Through Goals

Attendees at this year’s Flow-Through Entities Conference, hosted by the Foundation for Accounting Education, are in for a real treat. Current topics and guest speakers will provide participants with information that will enhance their understanding of federal and state taxation as it relates to flow-through entities, including partnerships, limited liability companies, and S corporations.

During the first leg of the conference, committee chair Ira Fox of Faber & Fox will share S corporation updates. Additionally, conference chair Alan T. Frankel will be on hand to discuss investments in venture capital partnerships and how a partner’s tax return is impacted by various K-1 items. “Americas’s most aggressive tax advisor” Philip P. Drudy of Bernhardt Karlitz Hayden & DeCruze will close out the morning with a discussion on cancellation of debt income for flow-through entities.

The afternoon line-up will be even more dynamic than the morning. James R. Lisa of Frankel Loughran Starr & Vallone will give a detailed update on new developments affecting partnerships. Attendees will then have the opportunity to receive an overview of section 707 disguised sales from Ernst & Young’s Kevin Leifer. Neil Tipograph of Imowitz Koenig & Co. will deliver a presentation on 2000 Tax Season Partnership Compliance Issues. Finally, Bruce I. Panock will close with a review of partner compensation issues, including W-2 forms and profits vs. capital interest issues.