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Tuesday, October 20, 2020 Webcast

Form 1065 Boot Camp: Step-by-Step Preparation with Completed Forms (X1-1065-2020-01-WEBNR-294-01)

9:00 AM - 5:00 PM EDT
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 partnership tax return. The course includes a chapter-by-chapter, hands-on approach to completing Form 1065. As details are discussed within each chapter, information is provided to prepare an intricate Form 1065. 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 partnership return, with a filled-in completed Form 1065 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 1065, 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 partnership and LLC clients

HIGHLIGHTS

  • Gaining a thorough understanding of federal income tax laws for partnerships or LLCs, from formation to tax return preparation issues
  • Who files Form 1065, and who does not file Form 1065
  • Trade or Business income and expenses versus Separately Stated Items
  • The importance of Schedule M-1
  • Maintaining Capital Accounts
  • Partnership distributions: current or liquidating, cash or property
  • How to allocate recourse and nonrecourse debt
  • Self-employment tax issues
  • Complete coverage of any new legislation enacted before presentation
  • Other developing issues and hot topics
  • Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797)
  • Partnership reporting oddities
  • Accurately preparing partnership returns and reconciling book income to taxable income

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • This seminar qualifies for IRS credit.
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

Dennis Benvie

Dennis P. Benvie, CPA, MS

Tyirin, Benvie & Co., CPAs

Dennis P. Benvie is a Director, Tax and Advisory Content, with Surgent. In addition to instructing continuing professional education seminars for 29 years, he also writes, edits, and/or updates many Surgent 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, 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.

PRICING

$249.00 - Member

$259.00 - Non Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent