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Thursday, January 26, 2023 Live Webcast

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations Webinar (X1-TFBC-2023-01-WEBNR-26-02)

9:00 AM - 5:00 PM EST
webcast

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8.0 CPE Credits in TX

OVERVIEW

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.

DESIGNED FOR

All levels of staff in public accounting and company controllers responsible for filing these forms

BENEFITS

  • Learn in detail about the preparation of Form 1120S, Schedules M-1, K and K-1
  • Learn in detail about the preparation of Form 1065, Schedules M-1, K and K-1
  • Identify and handle commonly found S corporation and partnership tax issues

HIGHLIGHTS

  • Timely coverage of breaking tax legislation
  • Schedules K-2 and K-3 reporting requirements
  • Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation
  • Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election, to tax return preparation, stock basis, and loss limitation issues
  • Recognize and properly handle special pass-through items of income and expense
  • Accurately prepare S corporation returns and reconcile book income to taxable income
  • Accurately prepare partnership returns and reconcile book income to taxable income
  • What the transactional method entails and how to report partners' capital acccounts under this method
  • Properly handle the tax treatment of distributions to shareholders, partners, or members
  • Understand the special restrictions and sanctions for tax year-end selection
  • Review the basics of partnership and LLC formation and basis calculation
  • Self-employment tax or NOT, for each entity
  • Filling in K-1s correctly for S corporations, partnerships, and LLCs
  • The most frequently used forms and schedules, including some form "oddities"

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for CFP credit
  • Qualifies for IRS credit

INSTRUCTOR

Nicole DeRosa

Nicole M. DeRosa, CPA, MAcc

Senior Tax Manager

Wiss & Company, LLP

Nicole is a senior tax manager with Wiss and has more than 15 years of public accounting experience, specializing in taxation for closely held businesses and individuals. In addition to working with clients in an array of industries, she also teaches various continuing education courses for Surgent CPE and the American Institute of CPAs (AICPA). A valuable resource for "all things tax," she regularly assists clients with federal and state tax controversy matters. Nicole is an NJCPA Trustee and serves on its Content Advisory Board and Federal Taxation Interest Group. In 2019, she was awarded its “Women to Watch” Ovation Award and in 2022, she was awarded the "Impact" Ovation Award. For the third year in a row, Nicole was named to the NJBIZ Accounting Power 50 List, which accounts for the most influential men and women in accounting who keep New Jersey's businesses on track. In Nicole’s spare time, she enjoys staying active at the gym, volunteering at her local animal shelter, and is active in various charitable organizations, such as St. Jude.

PRICING

$279.00 - Member

$299.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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Print a registration form

ALSO AVAILABLE

COURSE DEVELOPER

Surgent

Qualifies For

  • CFP