Tax Forms Boot Camp: LLCs, Partnerships and S Corporations

Code: TFBC

Space is available, but online registration has closed. Please call 952-831-2707 to register.

Date Wednesday, January 16, 2019
Time 8:30am - 4:30pm
Central Time
Location Minnesota Society of CPAs
1650 W 82nd St Ste 600
Bloomington, MN 55431-1458
Map & directions
 
CPE credits CPE 8.0
Specialty
credits
8.0 CFP
8.0 IRS CE approved
Field(s)
of study
Taxes - Technical (8.0)
Instructor Steven Wagner, CPA
Froehling Anderson
Fees
Standard member fee $325.00
checkmarkStandard nonmember fee $375.00

Members: Please log in to receive member fee.

Description

Shape up your tax form knowledge with this in-depth training. Get the guidance you need to prepare S Corporation, partnership and limited liability company (LLC) tax returns and explore the laws and regulations that apply to these entities. Find out how to handle common tax issues and come away with a solid understanding of how to prepare Form 1120S and Form 1065, as well as Schedules M-1, K and K-1 for both forms.

Who should take this program?

All levels of CPAs and tax professionals in public practice, and industry CPAs working within LLCs, partnerships and S Corporations

Major subjects

  • Operating a business as a partnership vs. an LLC vs. an S Corporation -- tax consequences, opportunities and pitfalls
  • Income tax laws for S Corporations -- eligibility, election, tax return preparation, stock basis and loss limitation issues
  • How to handle special pass-through income and expense items
  • How to prepare S Corporation returns and reconcile book income to taxable income
  • How to prepare partnership returns and reconcile book income to taxable income
  • How to handle the tax treatment of distributions to shareholders, partners or members
  • Restrictions and sanctions for tax year-end selection
  • Basics of partnership and LLC formation and basis calculation
  • How self-employment taxes do or do not apply to each entity type
  • How to prepare Schedule M-1, K and K-1
  • How the Affordable Care Act affects tax returns
  • 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 TFBC
Sponsor MNCPA
NASBA ID#: 139884
Level Basic
Format Group Live
Prerequisites Prereq. None
Advance
prep
None