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Thursday, November 7, 2019 Webcast

Advanced Technical Tax Forms Training – LLCs, S Corporations, and Partnerships  (X1-ATFB-2019-01-WEBNR-311-01)

9:00 AM - 5:00 PM EDT
webcast

Webcast

8.0 CPE Credits in TX

OVERVIEW

Don’t let the title frighten you. It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff avoid costly mistakes by addressing advanced preparation issues when dealing with flow-through entities such as S corporations, LLCs, and partnerships.

DESIGNED FOR

CPAs who are involved in planning, preparing or reviewing complex returns.

BENEFITS

  • Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120S
  • Understand advanced technical practice issues facing practitioners today

HIGHLIGHTS

  • Advanced technical practice and reporting issues for all entities
  • Is the “Employee vs. Independent Contractor” conundrum about to explode?
  • Don't get caught watching the paint dry; what is hot and new
  • Things your parents taught you
  • Payroll penalties update
  • What is terminating S corporations today?
  • New emphasis on basis reporting
  • How §179 limitations affect basis in partnerships, LLCs, and S corporations
  • How much luxury automobile depreciation in the second year of service, new rev. proc.
  • When to use “704(b) basis” for capital accounts versus “tax basis”
  • Detailed rules of §704 for preventing the shifting of tax consequences among partners or members
  • Unreasonable uses of the traditional and curative allocation methods
  • Special allocation issues of §704, including economic effect, the “dumb-but-lucky” rule, and substantiality
  • Social Security issues – recent (2019) proposals
  • Special allocations (allocating a taxable gain that has a book loss)
  • Review of final regulations on S corporation “open debt”
  • Taxable distribution in excess of basis and reporting issues to shareholders
  • Final regulations for allocating depreciation recapture to partners and members of LLCs

COURSE LEVEL

Advanced

PREREQUISITES

Basic to intermediate level experience in preparing Forms 1120S and 1065.

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

$239.00 - Member

$239.00 - Non Member

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Request a reminder

Print a registration form

COURSE DEVELOPER

Surgent