Advanced Technical Tax Forms Training -- LLCs, S Corporations, and Partnerships (ATFB)

Friday, November 2, 2018 from 8:00 AM to 4:00 PM in Sioux City

8.00 CPE Credit Hours

Don't let the title frighten you. It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff avoid costly mistakes by addressing advanced preparation issues when dealing with flow-through entities such as S corporations, LLCs, and partnerships.
Designed For
CPAs who are involved in planning, preparing, or reviewing complex returns.
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
Highlights
  • Advanced Technical Practice and Reporting Issues for all entities - Why are manhole covers round?
  • Don't get caught watching the paint dry, what is hot and new
  • IRS Battles against Blind Basis
  • Pernicious Precedents in Payroll Penalties, enforcement activities are hot
  • What is terminating S Corporations today?
  • Discuss a Proposal for a yet to be developed new tax form, which calculates S Corp basis, designed to be attached to individual returns.
  • Can I amend prior returns to correct an impermissible accounting method?
  • Depreciation Schedules are becoming shorter due to tax friendly safe-harbors
  • Can 179 and the de-minimus rule cohabitate?
  • How 179 limitations affect basis in partnership, LLC, and S corporation
  • 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
  • Capital account adjustments with admission of new member/partner
  • Special allocation issues of 704, including economic effect, the "dumb-but-lucky" rule, and substantially
  • Social Security Issues - CBO's proposals geared for commencement in the next decade
  • Special allocations (allocating a taxable gain that has a book loss)
  • Review of final regulations on S corporation "open debt"
  • Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
  • So what is next with the Department of Labor
  • Taxable distribution in excess of basis and reporting issues to shareholders
  • Battling employee vs. independent contractor questions and the Voluntary Classification Settlement Program (VCSP)
  • Advanced depreciation issues
  • Final regulations for allocating depreciation recapture to partners and members of LLCs
Prerequisites
Basic- to intermediate-level experience in preparing Forms 1120S and 1065
Advanced Preparation
None
Developer
Surgent CPE, LLC
Presenters
Edward Harter, Surgent CPE, LLC
Level of Knowledge
Advanced

Course Location

Delta Hotels By Marriott South Sioux Riverfront
E 4th and B Streets
S Sioux City, NE 68776

Member

$265.00

Late
Registration *

$315.00

Non-Member

$315.00

Late
Registration *

$365.00

* If postmarked after 10/10/2018
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