Tax Forms Boot Camp: LLCs Partnerships, and S Corporations - SH (TFBC217)
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The comprehensive course covers the preparation of both S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course and instruction delivery is geared toward the basic understanding and progresses to complex issues. The boot camp allows staff to discover the connections and alterations of these widely-held entity structures, while also providing a valued reference for the participant’s future use.

 Export to Your Calendar 12/19/2017
When: 12/19/2017
8:30 AM until 4:30 PM
Where: Wyndham Garden Shreveport
1419 East 70th Street
Shreveport
United States
Presenter: Jonathan Ingber


Online registration is available until: 12/19/2017
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AcronymTFBC217
CPE8 hours
VendorSurgent
Category
Taxation
LevelBasic
PrerequisiteNone
Adv PrepNone
Yellow Book?No
Designed ForAll levels of staff and company controllers responsible for filing these forms.
RegistrationEarly Bird
(through 12/4)
Standard
(after 12/4)
Member$299$349
CPA Non-Member$399$449

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

The course provides a comprehensive understanding of the preparation of both S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course and instruction delivery is geared toward the basic understanding and progresses to complex issues. The boot camp allows staff to discover the connections and alterations of these widely held entity structures, while also providing a valued reference for the participant’s future use. This course has been updated for the impacts of the PATH Act of 2015.

Objectives

  • Understand in detail how to prepare Form 1120S, Schedules M-1, K, and K-1
  • Understand in detail how to prepare Form 1065, Schedules M-1, K, and K-1
  • Identify and handle commonly found S corporation and partnership tax issues

Topics

  • Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation
  • 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
  • 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
  • How the Affordable Care Act affects tax returns
  • The most frequently used forms and schedules, included “filled-in”