22WS-1228: Surgent's Form 1065 Boot Camp: Step-by-Step Preparation with Completed Forms (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Date
Thursday, December 15, 2022
Time
8:00am
-
4:00pm
Central Time
Location
Online
CPE credits
CPE
8.0
Field(s)
of study
Taxes - Technical (8.0)
Instructor
Michael Frost, CPA
American Institute of Certified Public Accountants
Fees
|
Standard Member Fee |
$279.00
|
|
Standard Nonmember Fee |
$279.00
|
Description
The objective of this course is to train new, rusty, or returning-to-practice staff with a hands-on, pencil-pushing gold standard for preparing Form 1065. Common to advanced issues of partnerships are explored in the current course that can double as a quick and practical reference guide for tax treatment and tax preparation guidelines. Within each chapter, we illustrate various parts and areas of interest when preparing a 1065, including examples and corresponding tax forms. We bring it all together in the final two chapters with a comprehensive example that integrates and links all previous chapters. The course and instruction delivery are geared toward a basic understanding and progress to more complex issues via Surgent's "Step-by-Step" preparation guide.
Who should take this program?
All levels of staff and company controllers responsible for filing these forms
Major subjects
-
Gain a thorough understanding of federal income tax laws for partnerships and LLCs, from formation to tax return preparation issues
-
Schedules K-2 and K-3 reporting requirements
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Who files Form 1065, and who does not file Form 1065
-
Tax Basis Capital Account Reporting Requirements
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Trade or Business income and expenses versus Separately Stated Items
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The importance of Schedule M-1
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Partnership distributions -- current or liquidating, cash or property
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How to allocate recourse and nonrecourse debt
-
Self-employment tax issues; court cases and trends in tax audits of earnings subject to self-employment taxes
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Complete coverage of any new legislation enacted before presentation
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Section 163(j) limitations
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Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797)
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Final regulations on Section 168(k)
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Partnership reporting oddities
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Accurately preparing partnership returns and reconciling book income to taxable income
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The Centralized Audit Regime under the Bipartisan Budget Act of 2015
Learning objective(s)
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Learn in detail about the preparation of Form 1065, 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 partnership and LLC clients
Course code
Code
22WS-1228
Sponsor
NASBA ID#: 103212
Level
Basic
Format
Group Internet Based
Prerequisites
Prereq.
None
Advance
prep
None
If you have questions about this event, please call us at 952-831-2707.
