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Tuesday, December 14, 2021 Live Webcast

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (E2112241)

9:00 AM - 4:30 PM EST

Registration: 8:30 AM EST

webcast

Vendor Platform

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 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. While providing a sample trial balance for participants to prepare tax Forms 1120S and 1065, the course also covers the impact of most recent legislative developments (CARES Act, Tax Relief Act, ARPA).

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

HIGHLIGHTS

  • 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. Major changes in K-1 reporting on both partnerships and S corporation form and content
  • How the Affordable Care Act affects tax returns
  • The most frequently used forms and schedules, including some form "oddities"

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for CFP credit.
  • This seminar 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 & Company, LLP and has more than 12 years of public accounting experience, specializing in taxation for closely held businesses and individuals. She was also an adjunct professor at Raritan Valley Community College, where she taught Tax Accounting for Individuals. 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, and in 2019, she was awarded the “Women to Watch” Ovation Award. Most recently, Nicole was named to the 2020 edition of NJBIZ’s Power 50 List. 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.

PRICING

$289.00 - Member

$439.00 - Nonmember

Register Today


Note: Online pre-registration will close on December 14 at 9:00 AM.

ADDITIONAL OPTIONS

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Print a registration form

COURSE DEVELOPER

Surgent

Qualifies For

  • CFP