CPE Course Surgent's Technical Business Practice Issues and Tax Forms for Experienced Practitioners (ATFB)

January 29, 2021

9:00 AM — 5:00 PM

Location Webinar

Member Price $259.00
Non-member Price $289.00

Curriculum Taxation

Field of Interest

Level Advanced

Designed For

CPAs who are involved in planning, preparing, or reviewing complex returns

8.00 credits

View Cart Add to Calendar

Objective

  • Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120S
  • Understand advanced technical practice issues facing practitioners today

Highlights

  • Advanced technical practice and reporting issues for all entities
  • Is the “Employee vs. Independent Contractor” conundrum about to explode?
  • Don't get caught watching the paint dry; what is hot and new
  • Things your parents taught you
  • Payroll penalties update
  • What is terminating S corporations today?
  • New emphasis on basis reporting
  • How §179 limitations affect basis in partnerships, LLCs, and S corporations
  • How much luxury automobile depreciation in the second year of service, new Rev. Proc.
  • When to use “704(b) basis” for capital accounts versus “tax basis”
  • Detailed rules of §704 for preventing the shifting of tax consequences among partners or members
  • Unreasonable uses of the traditional and curative allocation methods
  • Special allocation issues of §704, including economic effect, the “dumb-but-lucky” rule, and substantiality
  • Social Security Issues – Recent (2019) proposals
  • Special allocations (allocating a taxable gain that has a book loss)
  • Review of final regulations on S corporation “open debt”
  • Taxable distribution in excess of basis and reporting issues to shareholders
  • Final regulations for allocating depreciation recapture to partners and members of LLCs

Instructors

Prerequisites

Basic- to intermediate-level experience in preparing Forms 1120S and 1065

Developer

Surgent McCoy CPE, LLC

Back to Course List View Cart