Early Bird Fees (through 10/16)
After 10/16, add $50 to your fee.
CPE: 8 hours
Vendor: Surgent McCoy CPE
Advanced prep: None
Who should attend: Practitioners who need a basic understanding of LLC and partnership tax issues and the preparation of LLC and partnership federal tax returns
Future tax specialists must have a strong base in the preparation of partnerships and limited liability company’s returns. This boot camp provides an in-depth foundational center of the forms, along with other common to advanced issues of partnerships and limited liability companies. The course includes a hands-on approach to completing a Form 1065, including a “filled-in” answer to a sample taxpayer return.
• Prepare a basic Form 1065, step by step, with “filled-in” forms provided
• Recognize the importance of Schedule M-1
• Understand the basic concepts of partnership taxation
• Gain a thorough understanding of federal income tax laws for partnerships or LLCs, from formation to tax return preparation issues
• Assess critically tax basis for recourse and nonrecourse debt
• Understand the proper year end
• Review an often overlooked §704(c) pre-contribution gain
• Adjustments, permitted special allocations, and self-employment tax issues
• mplete coverage of any new legislation enacted before presentation
• Are capital accounts the same as basis? NO, they are not!
• Partnership distributions – current or liquidating, cash or property
• What business arrangements qualify, or, by default, are treated, as partnerships
• Other developing issues and hot topics