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Wednesday, December 9, 2020 Webcast

Form 1120s Boot Camp: Step-by-Step Preparation with Completed Forms (E2012571)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

The objective of this course is to train new, rusty, or returning-to-practice staff to prepare a complicated federal Subchapter S Corporation tax return. The course includes a chapter-by-chapter, hands-on approach to completing Form 1120S. As details are discussed within each chapter, information is provided to prepare an intricate Form 1120S. The course and instruction delivery is geared toward a basic understanding and progresses to more complex issues via Surgent’s “Step-by-Step” preparation guide. The boot camp allows staff to discover the connections between a trial balance and a completed S corporation return, with a filled-in completed Form 1120S provided in the case solutions.

DESIGNED FOR

All levels of staff 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 common business reporting Forms 4562 and 4797
  • Provide staff with the first stage of a graduated professional education program in servicing S corporation clients

HIGHLIGHTS

  • Gain a thorough understanding of federal income tax laws for S corporations, from formation to tax return preparation issues
  • Key operational issues of separately stated versus non-separately stated income and expenses
  • The importance of Schedule M-1
  • Accurately account for basis, AAA, and distributions
  • Properly prepare and allocate items to the K-1 schedule
  • Complete coverage of any new legislation enacted before presentation
  • Identification of eligible shareholders
  • The requirements to make a timely or late election
  • Other developing issues and hot topics
  • Master two common tax forms, Depreciation (4562) and Sale of Assets (4797)
  • S corporation reporting oddities
  • Accurately prepare S corporation returns and reconcile book income to taxable income

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

Course materials are distributed electronically. To access the materials visit My Events. Download to your laptop or tablet prior to the seminar, handouts are added as received.

INSTRUCTOR

Nicole DeRosa

Nicole M. DeRosa, CPA

Senior Tax Manager

Wiss & Company, LLP

Nicole DeRosa is a senior tax manager with Wiss & Company, LLP and has more than 12 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 was also an adjunct professor at Raritan Valley Community College where she taught Tax Accounting for Individuals for four years. Nicole is a member of the NJCPA and is the leader of the Emerging Leaders Council. She is also active on the Content Advisory Board, Federal Taxation Interest Group and Emerging Leaders Interest Group. In 2015, she was awarded “30 Under 30” by the NJCPA, which recognizes young professionals who are making a name for themselves in the New Jersey accounting landscape. In 2019 she was awarded the “Women to Watch” Ovation Award which applauds the growth and success of female members for their leadership, potential, contributions and commitment to fostering the success of their colleagues. Most recently, Nicole was named to the 2020 edition of NJ BIZ’s Power 50 List which accounts for the most influential men and women in the accounting profession that helps to keep the states’ business on track. In Nicole’s spare time, she teaches Zumba Fitness and is active in various charitable organizations, such as St. Jude's and the American Heart Association. She is a graduate of Fairleigh Dickinson University, with degrees in Accountancy and Master of Science in Accountancy.

PRICING

$289.00 - Member

$389.00 - Non Member

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Note: Online pre-registration will close 24 hours prior to this event.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent