 |
| <- Previous Page |
|
|
Hands-On Tax Return Workshop - Partnerships & LLCs (Form 1065)
|
|
|
| Date |
November 18, 2010
|
|
| Location | Mahoney State Park, Ashland, NE |
|
|
| Course Time |
|
8:30 a.m. to 4:30 p.m. |
|
|
This case-driven course is designed to get the inexperienced accountant up to speed quickly in the most common areas of partnership, LLC and LLP taxation. The cornerstone of this course is the preparation of the Form 1065 using a fairly complex trial balance common to most partnership, LLP and LLC income tax returns.
|
| Course Highlights & Objectives |
|
Basic discussion of the deductibility of losses including basis, at-risk and passive activity loss limitations. Basic overview of the tax treatment of distributions, recourse and non-recourse debt allocations and §754 optional basis adjustments. Calculation of partner/member’s outside basis. Comparison of partnerships, LLCs and LLPs. Deductibility of fringe benefits at the entity level and the tax treatment to the partners/members. Guaranteed payments versus wages. Schedule K and K-1 – preparation including separately and non-separately stated income and expense items. Schedule M-1 – calculation of book to tax reconciliation items. Schedule M-2 – analysis of partners’ capital accounts. Self-employment tax issues and pitfalls. Using a comprehensive trial balance the participant will prepare the Form 1065 and related schedules.
Become familiar with tax law from a tax-form perspective with an emphasis on any newly enacted legislation. Become more knowledgeable with the information gathering process. Prepare a complete Form 1065 income tax return and related schedules with minimal review points. Understand the differences between partnerships, LLPs and LLCs. |
|
| Who Should Attend |
|
| Tax return preparers, staff accountants and paraprofessionals with little or no experience and out of practice public accountants seeking a basic partnership tax return preparation course. |
| Course Level | Basic |
| Prerequisites | None |
|
|
|
|
|
| Discussion Leader | Mark Vanden Berg, Garverick CPE |
|
|
|
|
|
| Additional Information: |
Parking is available on site and lunch is provided. |
|
|
| Fee |
$235 - Society Member
$265 - Society Nonmember |
|
|
| <- Previous Page |
|
