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.
- Advanced Technical Practice and Reporting Issues for all entities
- Crowdfunding - Social Media weds Corporate Finance
- Overview of the new Fair Labor Standards Rules, what changes, what does not change, step-by-step checklist for analyzing/revising employee classifications, plus five actions to avoid!
- Multiple layers of §704(c) allocations
- Converting a general partnership into an LLC
- Special allocation issues of §704, including economic effect, the “dumb-but-lucky” rule, and substantiality, including "some help, no hurt" allocation restrictions
- Determining self-employment taxable income, new regulations on the way?
- Partners’ capital accounts and method of maintaining them
- Special allocations - what is required?
- Review of final regulations on S corporation “open debt”
- Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
- How IRS calculates CPA's reasonable compensation
- An S Corporation can pay tax? Yes.
- Advanced depreciation and sale of business property issues
- 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 partnerships, LLCs, and S corporations
- Employee vs. independent contractor and Voluntary Classification Settlement (VCSP)
- Final regulations for allocating depreciation recapture to partners and members of LLCs
- 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 today
CPAs who are involved in planning, preparing, or reviewing complex returns
Basic- to intermediate-level experience in preparing Forms 1120S and 1065