Form 1065 Boot Camp: Step-by-Step Preparation With Completed Forms (106519)
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The course is designed to train new, rusty, or returning-to-practice staff to prepare a complicated federal partnership tax return. The course includes a chapter-by-chapter, hands-on approach to completing Form 1065. This “boot camp” allows staff to discover the connections between a trial balance and a completed partnership return, with a filled-in completed Form 1065 provided in the case solutions.

 Export to Your Calendar 12/18/2019
When: December 18, 2019
8:30 AM until 4:30 PM
Where: LCPA - Training Facility
2400 Veterans Memorial Blvd
Suite 500
Kenner, Louisiana  70062
United States
Presenter: Michael Grande


Online registration is available until: 12/18/2019
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Acronym 106519
CPE 8 hours
Vendor Surgent
Category
Taxation
Level Basic
Yellow Book? No
Registration Early Bird Standard
Members* $315 $365
CPA Non-Members $415 $465
The Early Bird rate is good through 12/3.

*The member rate applies to LCPA members, other state CPA 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 objective of this course is to train new, rusty, or returning-to-practice staff to prepare a complicated federal partnership tax return.

The course includes a chapter- by-chapter, hands-on approach to completing Form 1065. As details are discussed within each chapter, information is provided to prepare an intricate Form 1065.

The course and instruction delivery is geared toward a basic understanding and progresses to more complex issues via Surgent’s “Step-by-Step” preparation guide. The boot camp allows staff to discover the connections between a trial balance and a completed partnership return, with a filled-in completed Form 1065 provided in the case solutions.

Objectives

  • Learn in detail about the preparation of Form 1065, Schedules M-1, K, and K-1
  • Learn in detail about common business reporting Forms 4562 and 4797
  • Provide staff with the first stage of a graduated professional education program in servicing partnership and LLC clients

Major Topics

  • Gain a thorough understanding of federal income tax laws for partnerships and LLCs, from formation to tax return preparation issues
  • Who files Form 1065, and who does not file Form 1065
  • Trade or Business income and expenses versus Separately Stated Items
  • The importance of Schedule M-1
  • Maintaining Capital Accounts
  • Partnership distributions -- current or liquidating, cash or property
  • How to allocate recourse and nonrecourse debt
  • Self-employment tax issues
  • Complete coverage of any new legislation enacted before presentation
  • Other developing issues and hot topics
  • Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797)
  • Partnership reporting oddities
  • Accurately preparing partnership returns and reconciling book income to taxable income

Designed For: All levels of staff and company controllers responsible for filing these forms

Prerequisite: None