Webcast: Tax Forms Boot Camp - LLCs, Partnerships and S Corporations
378 | Webcast | Basic | Scheduled
Description
The course provides a comprehensive, hands-on, pencil-pushing understanding of the preparation of both S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course uses the basic concepts underlying the two main types of business returns, 1120S and 1065, as building blocks for more complex concepts tax preparers should be aware of. The theoretical concepts get illustrated in comprehensive examples that incorporate the most up-to-date law changes and provisions.
Credits
| Number of Credits | Type of Credits |
|---|---|
| 8.00 | Taxes |
| 6.75 | CLE |
Designed For
All levels of staff and company controllers responsible for filing these forms
Highlights
- Comparing and contrasting the tax consequences, opportunities and pitfalls of operating a business as a partnership, LLC, or S corporation
- Reporting requirements and filing exceptions for Schedules K-2 and K-3
- Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
- Gaining a comprehensive understanding of income tax laws for S corporations, from eligibility and election to tax return preparation, stock basis, and loss limitation issues
- Recognizing and properly handling special pass-through items of income and expense
- Accurately preparing S corporation returns and reconciling book income to taxable income
- Accurately preparing partnership returns and reconciling book income to taxable income
- What the transactional method entails and how to report partners' capital accounts under this method
- Properly handling the tax treatment of distributions to shareholders, partners or members
- Understanding the special restrictions and sanctions for tax year-end selection
- Review of the basics of partnership and LLC formation and basis calculation
- Self-employment tax or NOT for each entity
- Filling K-1s correctly for S corporations, partnerships and LLCs. Major changes in K-1 reporting on both partnership and S corporation forms and content.
- The most frequently used forms and schedules, including some form "oddities"
Objectives
- Learn in detail about the preparation of Form 1120-S and Schedules M-1, K and K-1
- Learn in detail about the preparation of Form 1065 and Schedules M-1, K and K-1
- Identify and handle commonly found S corporation and partnership tax issues
Prices
- Member (Early Bird)
- $289.00
- Non-Member (Early Bird)
- $409.00
- Member
- $289.00
- Non-Member
- $409.00