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Wednesday, November 13, 2024 Live Webcast

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (X1-TFBC-2024-01-WEBNR-318-01)

9:00 AM - 5:00 PM EST
webcast

Vendor Platform

8 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 uses the basic concepts underlying the two main types of business returns: 1120S and 1065 as building blocks for more complex concepts tax preparers should be aware of. The theoretical concepts get illustrated in comprehensive examples that incorporate the most up-to-date law changes and provisions.

DESIGNED FOR

All levels of staff in public accounting 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
  • Reporting Requirements for Schedules K-2 and K-3
  • Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
  • 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
  • What the transactional method entails and how to report partners' capital acccounts under this method
  • 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
  • The most frequently used forms and schedules, including some form "oddities"

COURSE LEVEL

Basic

PREREQUISITES

None

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for CFP credit
  • Qualifies for IRS credit

INSTRUCTOR

Nicole DeRosa

Nicole M. DeRosa, CPA, MAcc

Director of Tax

SKC & Co. CPAs, LLC

Nicole is the director of tax  with SKC & Co, CPAs LLC  and has more than 15 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 NJBIZ’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

$269.00 - Member

$289.00 - Nonmember

Pre-Registration Closed

Online pre-registration for this event is now closed.

ADDITIONAL OPTIONS

Print a registration form

COURSE DEVELOPER

Surgent

AREAS OF INTEREST

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