Events Search
  Summary & Check Out (0)
Friday, December 6, 2024 Live Webcast

Technical Business Practice Issues and Tax Forms for Experienced Practitioners (X1-ATFB-2024-01-WEBNR-341-01)

9:00 AM - 5:00 PM EST
webcast

Vendor Platform

8 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

Michael Frost

Michael A. Frost, CPA, EA

Michael A. Frost, CPA, EA Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.

PRICING

$269.00 - Member

$289.00 - Nonmember

Register Today


Note: Online pre-registration will close on December 6 at 8:30 AM.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent

ALSO QUALIFIES FOR