CPE Course Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations

December 17, 2019

8:30am — 4:15pm

Location Manchester

Member Price $279.00
Non-member Price $379.00

Curriculum Taxation

Field of Interest Taxation (General)

Level Intermediate

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who are responsible for tax planning for their clients and/or companies

Objective

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.

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

Highlights

  • 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"

Instructors

Jonathan Ingber

Jonathan S. Ingber is currently employed at Kwal + Oliva, CPAs. He is responsible for conducting tax research and drafting all tax memoranda. He also reviews and prepares all types of tax returns for clients.Mr. Ingber was a partner in the firm of Seldine and Ingber, CPAs from 1973 to 2002. From 2002 to 2005, he was adjunct professor of taxation at Florida International University of the Alvah H. Chapman Graduate School of Business. In addition, he has taught in 44 states on many subjects including corporate liquidations, partnership taxation, fiduciary accounting, complex individual income tax returns, incorporating an existing business, depreciation under MACRS, income taxation of estates and trusts, subchapter S corporations, limited liability companies, repeal of the General Utilities doctrine, alternative minimum tax, passive-activity losses and credits, function of state law in resolving federal tax controversies, uniform capitalization rules, taxation of contractors, tax-free reorganizations, and federal tax research. He has been an outstanding seminar leader for FICPA for over 31 consecutive years, and has also been a member of The Florida Bar since 1971. Mr. Ingber received his bachelor’s degree in accounting from Queens College of the City University of New York, an LL.B. from New York University School of Law, and an MST degree from Florida International University Graduate School of Business. He was awarded the American Jurisprudence Prize in torts in 1965 and federal jurisdiction in 1966.close

Prerequisites

Experience with business clients

Developer

Surgent McCoy CPE, LLC

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