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BEST TAX RETURN WORKSHOP ON S CORPORATION (1120S)

4.5 (126)

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Tuesday, August 18, 2020 | 10:00 AM EDT

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • CTEC

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

8 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00073-19-O)

8 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273) (Approval No. 6273-CE-0049)

8 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00073-19-O)

8 CE credit of Federal Tax for Oregon Tax Preparers (Approval No. GEHNZ-T-00073-19-O)

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

employment law in a nutshell – guidance for your business

(1)

Jun 18, 2021 | 09:00 AM EDT View Details

irs tax practice & procedure introduction

Jun 18, 2021 | 09:30 AM EDT View Details

differences between ifrs and gaap

(4)

Jun 18, 2021 | 09:30 AM EDT View Details

addressing single audit quality in a covid-19 era

Jun 18, 2021 | 09:30 AM EDT View Details

advance irs learning: multiyear non-filing, criminal investigation, voluntary disclosure, whistleblower claims etc.

(2)

Jun 18, 2021 | 10:00 AM EDT View Details

tax strategies for real estate: crucial insights: acquisition and depreciation strategies

(5)

Jun 18, 2021 | 10:00 AM EDT View Details

keys to maintaining an effective and strong internal audit department

(1)

Jun 18, 2021 | 10:00 AM EDT View Details

best tax return workshop on s corporation (1120s) - latest

(3)

Jun 18, 2021 | 10:00 AM EDT View Details

are you creating legal liability when you hire or recruit online? - covid -19 special

(37)

Jun 18, 2021 | 10:00 AM EDT View Details

annual federal tax update - c & s corporations, partnerships & llcs (forms 1120, 1120s & 1065)

Jun 18, 2021 | 10:00 AM EDT View Details

yellow book boot camp - nfp and governmental accounting & auditing update

(1)

Jun 18, 2021 | 10:00 AM EDT View Details

partnership preparation, basis calculations & distributions–form 1065 schedule k & k-1 analysis

Jun 18, 2021 | 08:00 AM PDT View Details

comprehensive tax strategies & insights on real estate

(3)

Jun 18, 2021 | 08:00 AM PDT View Details

internal controls for businesses

(2)

Jun 18, 2021 | 08:00 AM PDT View Details

maximizing home office deduction (covid special - latest)

(7)

Jun 18, 2021 | 11:30 AM EDT View Details

Course Description

This case-driven training is designed to get the inexperienced accountant up to speed quickly in the most common areas of S-corporation taxation. The cornerstone of this course is the preparation of the Form 1120S using a fairly complex trial balance common to most S corporation income tax returns. This 8 hour CPE webinar is suitable for all levels of staff including tax preparers, managers, CPA, enrolled agents, accountants in public accounting firms and also suitable to accountants, controllers, tax managers responsible for filing the form of their company.

This webinar is taught using a Hands-On methodology.  Using a comprehensive trial balance, the participant will walk through the steps to prepare a complete and accurate Form 1120S (and related schedules). Major topics covered in the webinar are : 

  • An extensive review of the S corporation tax laws with an emphasis on any new legislative 
  • Schedule K analysis– determine if income statement items are separately (i.e. schedule K) or non-separately stated income and expense items
  • Discuss how to schedule K items to get allocated to shareholders on their schedule K-1s
  • Look at detailed Schedule K-1 information reporting to shareholders needed for the qualified business income (QBI) deduction, 3.8% net investment income tax and business interest expense limitations
  • Talk about the unreasonably low officer compensation issues
  • Learn the special tax treatment of fringe benefits paid to 2% shareholders and family members
  • Schedule M-1 – calculate the reconciliation of income or loss per books with income or loss per income tax return
  • Schedule M-2 – detailed step-by-step calculation of the AAA, PTI, E&P and OAA accounts
  • Basic overview of the tax treatment of distributions including when an S corporation has prior C corporation earnings and profits (E&P)
  • Review the importance and basics of calculating a shareholder’s stock and debt basis
  • Basic overview of the potential S corporation built-in gains tax from the conversion of a C to S corporation

Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

After registering for this webinar you will get Free E-Book worth $200. The book would be emailed to you, a day before the webinar on your registered email address on myCPE. The book is copyright protected. 

  • For Quality of Content
  • For Relevance and Practical Case studies
  • For Best Teaching Approach
  • For Best Course Material

Awards and Accolades

  • Award for Instructor Excellence for California Education Foundation
  • Award for Outstanding Course materials for California Education Foundation.
  • Rated top tax instructor in nearly every location he has presented 
  • One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge. 

After registering for this webinar you will get Free E-Book worth $200. The book would be emailed to you, a day before the webinar on your registered email address on myCPE. The book is copyright protected. 

Learning Objectives

  • Prepare a complete Form 1120S income tax return and related schedules with minimal review points
  • Understand the S corporation income tax law from a tax-form perspective
  • Efficiently use the information gathering process (i.e. asking the right questions) to prepare returns
  • Learn in detail about the preparation of Form 1120S, Schedules M-1, K, and K-1
  • Learn in detail about common business reporting Forms 4562 and 4797

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Chief Accounting Officer
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA

Testimonial

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    [no_of_record] => 126
    [average] => 4.4603
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4.5

(126)
63%
23%
10%
4%
0%

WM

The quality of the webinar was really great J Patrick has provided alot of clarity on 1120S where he introduced to the latest updates of the changes in taxes. The session had a great long enough time to understand everything step by step to know the differences of tax treatments.

TS

This is the best course I've ever seen about the business tax preparation topic on myCPE. It teaches you how to solve the REAL problems in both bookkeeping and tax preparation. Thanks Patrick very much for sharing your experience and skills.

JL

Great presentation by Mr.J.Patrick. He is the man of taxes. He teaches a variety of courses for different business entities. I had attended his previous courses on myCPE and they are all great. I will use his great experiences to increase my own accounting experiences. I will do small business clients that are S Corps, partnerships, C Corps, or LLCs. I will take more courses from him.

KM

I already viewed the Partnerships class by Mr.Patrick. After going through both, I see the methodology a lot better. He explained in very systematic approach to tackle business taxes, including a logical way to create a back-up in Excel.

DS

This course was very nice. The only thing that was difficult is we aren’t able to pause the video. There were times I had to answer the door or go bathroom and whatever I missed during that time was gone. The instructor does really good with repeating certain things.

AV

This course was fantastic. I have been preparing S corp returns for a long time and wanted to brush up on a few things. I really learned some of the missing links. The only reason I have given "agree" instead of "strongly agree" in the course is because Pat did not go over the Balance Sheet part in the course material. He covered page 1, schedule k, schedule m-1, m-2. It would have taken only extra 10 minutes to go over the balance sheet.