Surgent's Form 1065 Boot Camp: Step-by-Step Preparation with Completed Forms

Course Details

Date

Friday, September 23, 2022

7:00am – 3:00pm (Registration: 3:05am)

Location

Online

Field of Study

Taxation

CPE Credit

8 hours CPE credit

Level of Knowledge

Beginning

Vendor

Surgent McCoy CPE, LLC

Prerequisites

None

Description

The objective of this course is to train new, rusty, or returning-to-practice staff with a hands-on, pencil-pushing gold standard for preparing Form 1065. Common to advanced issues of partnerships are explored in the current course that can double as a quick and practical reference guide for tax treatment and tax preparation guidelines. Within each chapter, we illustrate various parts and areas of interest when preparing a 1065, including examples and corresponding tax forms. We bring it all together in the final two chapters with a comprehensive example that integrates and links all previous chapters. The course and instruction delivery are geared toward a basic understanding and progress to more complex issues via Surgent's "Step-by-Step" preparation guide.

Highlights

    

  • Gain a thorough understanding of federal income tax laws for partnerships and LLCs, from formation to tax return preparation issues
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  • Schedules K-2 and K-3 reporting requirements
  • 

  • Who files Form 1065, and who does not file Form 1065
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  • Tax Basis Capital Account Reporting Requirements 
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  • Trade or Business income and expenses versus Separately Stated Items
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  • The importance of Schedule M-1
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  • Partnership distributions -- current or liquidating, cash or property
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  • How to allocate recourse and nonrecourse debt
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  • Self-employment tax issues; court cases and trends in tax audits of earnings subject to self-employment taxes
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  • Complete coverage of any new legislation enacted before presentation
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  • Section 163(j) limitations
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  • Mastering two common tax forms, Depreciation (4562) and Sale of Assets (4797)
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  • Final regulations on Section 168(k)
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  • Partnership reporting oddities
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  • Accurately preparing partnership returns and reconciling book income to taxable income
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  • The Centralized Audit Regime under the Bipartisan Budget Act of 2015
  • 


Objectives

    

  • Learn in detail about the preparation of Form 1065, Schedules M-1, K, and K-1
  • 

  • Learn in detail about common business reporting Forms 4562 and 4797
  • 

  • Provide staff with the first stage of a graduated professional education program in servicing partnership and LLC clients
  • 


Designed For

All levels of staff and company controllers responsible for filing these forms

Registration for this course has passed.

Course Pricing

WYOCPA Member Fee
$279.00

Non-Member Fee
$363.00

Your Price
$363.00

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