Surgent's Tax Forms Boot Camp: LLCs and Partnerships (TBCL)

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Field of Study
Tax
Course Level
Basic
Vendor
Surgent McCoy CPE LLC

Registration Fees

MSCPA-AICPA Member
$239.00
MSCPA Member
$239.00
AICPA Member
$239.00
Non-Member
$239.00
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Friday, Dec 6, 2019
9:00am – 5:00pm

Future tax specialists must have a strong base in the preparation of partnerships' and limited liability companies' returns. This boot camp provides an in-depth foundational center of the forms, along with other common to advanced issues of partnerships and limited liability companies. The course includes a chapter-by-chapter, hands-on approach to completing a Form 1065. As details are discussed within each chapter, information is provided to prepare an intricate Form 1065. The manual concludes with the information from each chapter included on a "filled-in" Form 1065.

Designed For

Practitioners who need a basic understanding of LLC and partnership tax issues and the preparation of LLC and partnership federal tax returns

Course Objectives

  • Prepare an intricate Form 1065, step by step, with "filled-in" forms provided
  • Recognize the importance of Schedule M-1
  • Understand the basic concepts of partnership taxation
  • Be familiar with the results of the case studies that reinforce key learning points

Major Subjects

  • Gain a thorough understanding of federal income tax laws for partnerships or LLCs, from formation to tax return preparation issues
  • Are capital accounts the same as basis? NO, they are not!
  • Partnership distributions -- current or liquidating, cash or property
  • What business arrangements qualify, or, by default, are treated, as partnerships
  • Assess critically tax basis for recourse and nonrecourse debt
  • Understand the proper year end
  • Review an often overlooked §704(c) pre-contribution gain
  • Adjustments, permitted special allocations, and self-employment tax issues
  • Complete coverage of any new legislation enacted before presentation
  • Other developing issues and hot topics
  • Maximizing depreciation deductions
  • Partnership oddities with reporting depreciation, sales of assets, and guaranteed payments

Prerequisites

None

The start date for this course has passed. Registration is no longer available.