The Complete Guide to Preparing LLC, Partnership, and S Corporation Federal Income Tax Returns

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Overview

8 Credits
IN-PERSON

This unique course will enable the practitioner to learn in one day how to prepare S corporation, LLC, and partnership tax returns. The course focuses on an identical trial-balance-to-completed-tax-return case study prepared on both Form 1120S and Form 1065, allowing one to explore the similarities and differences of these popular entity structures.

Objectives

Participants will be able to understand the characteristics of an S corporation; learn in detail about preparation of Form 1120S, Schedule K and Schedule K-1; understand major changes that affect the filing of partnership returns; learn in detail about the preparation of Form 1065 and understand special problems and issues in preparing taxes for LLCs and limited partnerships.

Major Topics

  • Preparation of Form 1120S – The important practical issues in filing this form
  • Surgent McCoy's 6-Step Guide to preparing 'perfect' S returns
  • Basis and distribution issues of S corporation shareholders
  • Preparation of Form 1065 for partnerships, LLCs and LLPs and understanding the important differences between these entity structures
  • Surgent McCoy's 8-Step Guide to preparing 'perfect' partnership and LLC returns
  • Understanding the significant tax benefits and complications of using partnerships, LLCs and LLPs
  • Filling in K-1s correctly for S corporations, partnerships, LLCs and LLPs
  • Tax-planning strategies for depreciation deductions
  • Problems and issues relating to §199 deduction data on the K-1
  • Practical tips and planning issues
  • The most frequently used forms and schedules included

Designed For

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

Prerequisite

None

Sessions

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Friday, November 21, 2014

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Qualifies for CFP credit

FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.