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October 20, 2016

CBIZ MHM is pleased to announce the appointment of Nathan Smith to CBIZ’s National Tax Office (NTO), the central resource for the CBIZ MHM tax practice.  The NTO provides technical training, updates on new and changing legislation, consulting on complex matters, and oversight of the practices’ quality assurance measures. Through these activities, the NTO takes a leading role in generating tangible planning ideas and solutions and producing thought leadership materials to assist our clients in achieving their desired goals.

Prior to joining the NTO, Nathan spent more than 13 years as a Tax Senior Manager for the Tampa Bay office focusing on tax consulting and compliance for large corporations and partnerships. Nathan will be returning as a NTO Director and will have a wide variety of responsibilities including the following:

  • Researching and analyzing industry and Federal tax developments
  • Leading the development of practice aids and tactical approaches to responding to industry and Federal tax developments in a variety of subject matter areas
  • Strategizing with Managing Directors regarding tax planning in connection with existing client service plans, including facilitating client service teams in the client opportunity planning process
  • Leading data mining initiatives to identify segments of the client base that are ideal candidates
For questions regarding how the NTO helps our firm and can assist your business, please contact Nathan Smith at Nate.Smith@CBIZ.com.



December 4, 2015

These days, entities classified as partnerships for income tax purposes often hear the calling from partners to monetize a portion of the value the enterprise owns, even though those partners are not yet ready to sell their partnership interests. A recent article by Tampa Bay Senior Manager, Nathan Smith, discusses different way that partnerships can accomplish this.

The tax basis of one’s partnership interest is the key determinant of whether gain recognition is appropriate upon receipt of current cash distributions.  A partner’s tax basis in his partnership interest initially is established by the amount of money and the adjusted basis of property contributed by him to the partnership, or by his cost of such interest if acquired from another partner. A partner’s basis in his partnership interest also includes any increase in a partner’s share of the liabilities of a partnership, or any increase in a partner’s individual liabilities by reason of the assumption by such partner of partnership liabilities.  The manner in which partners are considered to “share” in the liabilities of the partnership is an important factor in the determination of each partner’s adjusted basis in his partnership interest.

For more information about the implications of making debt financed distributions, read the full article here or contact Nathan Smith at NTSmith@cbiz.com or 727.572.1400.



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