20SS-0259: Surgent's Form 1120S 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)

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.

Major subjects

• 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

Learning objective(s)

• 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

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