Oil and Gas Tax Partnerships - Advanced

Partnership accounting with all its variations and regulations can be one of the most complex challenges to accountants, managers and tax personnel in the oil and gas industry. This one-day program is designed to shed some light on the Oil & Gas Tax Partnership from formation to liquidation.

Who Should Attend:

Accountants, Managers, Tax Personnel and Auditors who have areas of responsibility affected by tax and partnerships.

Pre-requisites: Participants should have taken Oil and Gas Taxation (either Intro or Intermediate) or have a fundamental understanding of oil and gas taxation.

Upon Completion of this Program, Participants will be Able to:

· Understand the purpose and structure of oil and gas tax partnerships

· Understand the principles of operations of oil and gas tax partnerships

· Understand the accounting principles and practices of oil and gas tax partnerships

· Understand the principles of forming and liquidating oil and gas tax partnerships

Key Topics and Objectives:

Overview and Introduction to Oil and Gas Tax Partnerships

Forming Oil and Gas Partnerships

Operations of Oil and Gas Partnerships

Special Allocations of IDC and Other Items of Income, Losses and Deductions

Allocations of Tax Items Stemming from Contributed Property and Varying Partnership Interest

Partner – Partnership Transactions, Disguised Sales and Payments, and Disallowed Losses and Guaranteed Payments

Sales of Partnership Interested, IDC and Depletion Recapture

Operating Distributions of Oil and Gas Partnerships

Quality programs – offered on-site and adapted for your company. Contact Jim Hoffman at 214.763.9644 or via email at jhoffman@pdi.org. Visit us online at www.pdi.org