Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations (TFBC19)
Tell a Friend About This EventTell a Friend
 

Gain a comprehensive understanding of S corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The boot camp format 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. The course uses an identical sample trial balance for form preparation, with filled-in completed Forms 1120S and 1065 provided in the case solutions.

1/17/2019
When: 01/17/2019
8:30 AM until 4:30 PM
Where: LCPA - Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana 
United States
Presenter: Jon P. Karp


Online registration is closed.
« Go to Upcoming Event List  

Acronym TFBC18
CPE 8 hours
Vendor Surgent
Category
Tax
Level Basic
Prerequisite None
Adv Prep None
Yellow Book? Yes
Designed For All levels of staff and company controllers responsible for filing these forms.
Registration Early Bird
(through 1/2/19)
Standard
(after 1/2/19)
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.

Texas CPAs: Our Texas State Board of Public Accountancy Sponsor number is #010423.

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. The course uses an identical sample trial balance for form preparation, with filled-in completed Forms 1120S and 1065 provided in the case solutions.

Objectives

  • 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

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, including some form "oddities"