Form 1120S Boot Camp: Step-by-Step Preparation With Completed Forms (SUBS19)
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The objective of this course is to train new, rusty, or returning staff to prepare a complicated federal Subchapter S Corporation tax return. The course includes a chapter-by-chapter, hands-on approach to completing Form 1120S. The boot camp allows staff to discover the connections between a trial balance and a completed S corporation return, with a filled-in completed Form 1120S provided in the case solutions.

 Export to Your Calendar 12/19/2019
When: December 19, 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: 12/19/2019
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Acronym SUBS19
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 12/4.

*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 Subchapter S Corporation tax return.

The course includes a chapter-by-chapter, hands-on approach to completing Form 1120S. As details are discussed within each chapter, information is provided to prepare an intricate Form 1120S.

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 S corporation return, with a filled-in completed Form 1120S 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 common business reporting Forms 4562 and 4797
  • Provide staff with the first stage of a graduated professional education program in servicing S corporation clients

Major Topics

  • Gain a thorough understanding of federal income tax laws for S corporations, from formation to tax return preparation issues
  • Key operational issues of separately stated versus non-separately stated income and expenses
  • The importance of Schedule M-1
  • Accurately account for basis, AAA, and distributions
  • Properly prepare and allocate items to the K-1 schedule
  • Complete coverage of any new legislation enacted before presentation
  • Identification of eligible shareholders
  • The requirements to make a timely or late election
  • Other developing issues and hot topics
  • Master two common tax forms, Depreciation (4562) and Sale of Assets (4797)
  • S corporation reporting oddities
  • Accurately prepare S corporation returns and reconcile book income to taxable income

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

Prerequisite: None