Surgent's Tax Forms Boot Camp: LLCs, Partnerships and S Corporations (Self-Study)

Code: JSDLTFBC

Date Valid for one year from purchase date
Format Self-Study (Downloadable PDF)
CPE credits CPE 8.0
Specialty
credits
8.0 IRS CE approved
Field(s)
of study
Taxes - Technical (8.0)
Fees
Standard member fee $125.00
checkmarkStandard nonmember fee $125.00

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

Who should take this program?

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

Major subjects

  • 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"

Learning objective(s)

  • 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

Notes:

Course code Code JSDLTFBC
Sponsor Surgent
NASBA ID#: 103212
Level Basic
Format Self-Study (Downloadable PDF)
Prerequisites Prereq. None
Advance
prep
None