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Wednesday, January 8, 2025 Live Webcast

Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (X1-TFBC-2025-01-WEBNR-8-01)

11:00 AM - 7:00 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 M. DeRosa is a New Jersey-based CPA with over 15 years of experience 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.

Ms. DeRosa is a member of the New Jersey Society of Certified Public Accountants and is active on the Content Advisory Board and Federal Taxation Interest Group; she is currently a member of the Board of Trustees. 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. In 2022, she was awarded the “Impact” Ovation Award, which recognizes those who exhibit exemplary efforts and stellar achievement in advancing the interests and needs of New Jersey’s accounting profession through active engagement, leadership, and advocacy. Ms. DeRosa was also named to the 2022 edition of the NJ BIZ Power 50 List for the third year in a row; this list 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 enjoys staying active at the gym, volunteering at the local animal shelter, and is active in various charitable organizations, such as St. Jude.

Ms. DeRosa is a graduate of Fairleigh Dickinson University, with degrees in accountancy and a Master of Science in Accountancy.

PRICING

$269.00 - Member

$289.00 - Nonmember

Register Today


Note: Online pre-registration will close on January 8 at 10:30 AM.

ADDITIONAL OPTIONS

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COURSE DEVELOPER

Surgent

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