20SS-0003: Surgent's Form 1065 Boot Camp: Step-by-Step Preparation with Completed Forms (Self-Study)

Valid for one year from purchase date
Self-study - Downloadable PDF
8 CPE (8 technical)  |  8 IRS CE

This course is the hands-on, pencil-pushing gold standard for future tax specialists to begin their mastery of Form 1065. As partnership and LLC entity choice has seen expansive growth over the traditional C Corporation, Form 1065 is the new sheriff in town. This boot camp provides an in-depth foundational center of the form series, along with other common to advanced issues of partnerships and limited liability companies. The course includes a chapter-by-chapter, step-by-step approach to completing a sample 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.

Major subjects

• Gaining a thorough understanding of federal income tax laws for partnerships or LLCs, from formation to tax return preparation issues
• Fully understanding how to report income and deductions, which items must be separately stated, and which are non-separately stated
• Details of the most common M-1 "Book vs. Tax" adjustments and their proper form treatment
• How to fully understand common business Forms 4562 and 4797
• Are capital accounts the same as basis? NO, they are not!
• What business arrangements qualify, or, by default, are treated, as partnerships
• How to assess critically tax basis for recourse and nonrecourse debt
• Understand the proper year end
• 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

Learning objective(s)

• Prepare a challenging 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

Who should take this program?

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

Fees

Standard Member Fee	$125.00
Standard Nonmember Fee	$125.00