Mastering Basis Issues for S Corporations, Partnerships, and LLCs (Z1-HMB4-2022-01-SSDL)

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200 Minutes

On Demand - Audio

4 CPE Credits in TX

The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

DESIGNED FOR

CPAs who prepare both individual and flow-through business entity tax returns and need a thorough grasp of these significant issues

BENEFITS

Applicable coverage of any basis considerations within any recent tax legislation enacted before the presentation
Discuss new pass-through basis calculations required as attachments to certain individual returns
Excess business losses and the NOL updates made by the CARES and Tax Relief Acts of 2020
Tax Basis Capital Account Reporting Requirements
How §179 limitations affect basis and how the “tax-benefit” rule is applied
S corporations: Beware of final IRS regulations regarding “open debt” of S corporations; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or does not apply to certain S corporations; learn to apply the complex ordering rules and special elections that can have a big tax result; become aware of when you can have a taxable dividend in an S corporation; understand distributions of cash and property and post-termination transition rules, and temporary new TCJA post-termination rules for eligible corporations
LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; determine how to calculate basis under both §704 and for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; review §754 step-up in basis rules; and learn how TCJA cleans up the basis treatment of charitable contributions and foreign taxes paid

HIGHLIGHTS

Determine initial basis and organizing tax-free under §351 and §721
Discuss what affects basis and how to treat distributions
Pass the loss limitation hurdles to deduct pass-through losses

COURSE LEVEL

Intermediate

PREREQUISITES

Experience in business taxation

ADVANCE PREPARATION

None

ADDITIONAL NOTES

Qualifies for IRS credit

PRICING

$79.00 - Member

$99.00 - Nonmember

Purchase

ADDITIONAL OPTIONS

Remind me to register

Print a registration form

COURSE DEVELOPER

Surgent

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IRS (EA)

Mastering Basis Issues for S Corporations, Partnerships, and LLCs (Z1-HMB4-2022-01-SSDL)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

ADDITIONAL NOTES

SESSIONS

PRICING

ADDITIONAL OPTIONS

Request a Reminder

COURSE DEVELOPER

AREAS OF INTEREST

ALSO QUALIFIES FOR

Data Alerts

Mastering Basis Issues for S Corporations, Partnerships, and LLCs (Z1-HMB4-2022-01-SSDL)

OVERVIEW

DESIGNED FOR

BENEFITS

HIGHLIGHTS

COURSE LEVEL

PREREQUISITES

ADVANCE PREPARATION

ADDITIONAL NOTES

SESSIONS

PRICING

ADDITIONAL OPTIONS

Request a Reminder

COURSE DEVELOPER

AREAS OF INTEREST

ALSO QUALIFIES FOR

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