The course provides a comprehensive understanding of the preparation of both S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course and instruction delivery is geared toward the basic understanding and progresses to complex issues. The boot camp allows staff to discover the connections and alterations of these widely held entity structures, while also providing a valued reference for the participant’s future use. The course utilizes an identical sample trial balance for form preparation, with filled-in completed Forms 1120S and 1065 provided in the case solutions.
All levels of staff and company controllers responsible for filing these forms.
- 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
- 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
- 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
- How the Affordable Care Act affects tax returns
- The most frequently used forms and schedules, including some form "oddities"
- This seminar qualifies for CFP credit.
- This seminar qualifies for IRS credit.
Course materials are distributed electronically and we’ve passed the savings along to you - registrants save $20 on all 8-hour seminar pricing. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.
Request a Reminder
Note: Online pre-registration will be closed on Nov 25 at 8:30 AM.
Need a printable registration form? Click here
Registrations will be accepted at the door.
Dennis P. Benvie, CPA, MS
Tyirin, Benvie & Co., CPAs
Dennis P. Benvie is a managing member of Surgent McCoy CPE, LLC. In addition to instructing continuing professional education seminars for 27 years, he also writes, edits, and/or updates many Surgent McCoy publications. He consistently receives high evaluations for knowledge and presentation skills, and has been recognized as The Outstanding Discussion Leader of the Year, awarded by the state of Indiana. Prior to becoming a member partner of Surgent McCoy CPE, LLC, Dennis spent 15 years as a partner with a local Cincinnati CPA firm. He has 30+ years of public accounting experience specializing in tax, accounting, and management advisory for closely held businesses and individuals. His background also includes association with a tax attorney's office and instructing accounting classes as adjunct accounting faculty of local state universities. Mr. Benvie is a graduate of Miami (Ohio) University, degree in Accountancy, and has also earned a Masters of Science in Taxation degree from the University of Cincinnati.