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Surgent’s Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (SU0645/24)

Member Price $275
Non-Member Price $290
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January 2, 2025 @ 10:00 am - 6:00 pm

Event 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.

Designed For

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

Objectives

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

Major Subjects

Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation  Reporting Requirements for Schedules K-2 and K-3  Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations  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 accounts 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. 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” 

Prerequisites

None

Instructions

None

Details

Date:
January 2, 2025
Time:
10:00 am - 6:00 pm
Credit:
8 Credits

Other

Credit Hours
8
Max Registrations
0
Course Type
Webinar
Course Level
1