Webcast: Tax Forms Boot Camp: LLCs and Partnerships (XSTBCL17)
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Future tax specialists must have a strong base in the preparation of partnerships’ and limited liability companies’ 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 chapter-by-chapter, hands-on approach to completing a Form 1065. As details are discussed within each chapter, information is provided to prepare an intricate Form 1065. The manual concludes

10/19/2017
When: 10/19/2017
8:00 AM until 4:00 PM
Where: Webcast
SURGENT
TBCL-2017-01-WEBNR-292-01
United States
Presenter: Dennis Benvie, MS, CPA


Online registration is closed.
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Acronym XSTBCL17
CPE 8 hours
Vendor Surgent
Category
Taxation
Level Basic
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for Practitioners who need a basic understanding of LLC and partnership tax issues and the preparation of LLC and partnership federal tax returns
Registration
Member $219
CPA Non-Member $319

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Future tax specialists must have a strong base in the preparation of partnerships’ and limited liability companies’ 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 chapter-by-chapter, hands-on approach to completing a Form 1065. As details are discussed within each chapter, information is provided to prepare an intricate Form 1065. The manual concludes with the information from each chapter included on a “filled-in” Form 1065.

Objectives

  • Prepare an intricate Form 1065, step by step, with "filled-in" forms provided
  • Recognize the importance of Schedule M-1
  • Understand the basic concepts of partnership taxation
  • Be familiar with the results of the case studies that reinforce key learning points

Topics

  • Gain a thorough understanding of federal income tax laws for partnerships or LLCs, from formation to tax return preparation issues
  • 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
  • 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
  • Complete coverage of any new legislation enacted before presentation
  • Other developing issues and hot topics
  • Maximizing depreciation deductions
  • Partnership oddities with reporting depreciation, sales of assets, and guaranteed payments