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Webinar

Surgent's Tax Forms Boot Camp: LLCs, Partnerships and S Corporations

If you have questions about this event, please call us at 952-831-2707.

Thursday, Jan. 23, 2025
8 a.m.-4 p.m. Central
8 CPE (8 technical)  |  8 CFP  |  8 IRS CE

Course code: 24WS-1769
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The course provides a comprehensive, hands-on, pencil pushing understanding of the preparation of both S Corporation and partnership/LLC tax returns, along with the underlying laws, regulations, etc. The course uses the basic concepts underlying the two main types of business returns: 1120S and 1065 as building blocks for more complex concepts tax preparers should be aware of. The theoretical concepts get illustrated in comprehensive examples that incorporate the most up-to-date law changes and provisions.

Major subjects

  • Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S Corporation
  • Reporting Requirements for Schedules K-2 and K-3
  • Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
  • 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
  • What the transactional method entails and how to report partners' capital accounts under this method
  • 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. Major changes in K-1 reporting on both partnership and S Corporation forms and content
  • The most frequently used forms and schedules, including some form "oddities"

Learning objectives

  • 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

Who should take this program?

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

Pricing

Standard Member Fee $279.00
checkmark Standard Nonmember Fee $279.00
Our records indicate you are a nonmember. If you register, you will be charged $279.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

More program information

Location Online
Area
of study
Taxation
Field(s)
of study
Taxes - Technical (8.0)
Level Basic
Format Group Internet Based
Sponsor Surgent
NASBA ID#: 103212
Prerequisites Prereq. None
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date.
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If you have questions about this event, please call us at 952-831-2707.