This book supplements Bradley T. Borden, Taxation and Business Planning for Partnerships and LLCs (2017). It describes the analytical process that transactional tax attorneys use to advise their clients. It presents a client situation in the form of an operating LLC that students work on throughout the semester as matters arise through the natural life of the LLC. This real-life situation provides students the opportunity to see how tax issues arise in a practice setting. The book references chapters in the accompanying casebook. Students can use those materials to gain the knowledge they need to help solve problems that clients face. The book also includes practice materials such as an LLC operating agreement, loan documents, and financial statements that help students understand the client’s situation and the factors that affect client decision-making. Finally, the book includes legal updates, including important recent cases and commentary on applicable provisions of the TCJA of 2017.

New to the 2020-2021 Edition:

• Commentary on the Tax Cuts and Jobs Act of 2017
• Updated questions and financial statements
• Improved organization of the client materials and questions