Course Details

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ADDITIONAL DATES

Dec 04, 2020 | 08:00 AM PST Register
Dec 11, 2020 | 10:00 AM EST Register
Dec 18, 2020 | 08:00 AM PST Register

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

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again 

  • 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

About Presenter

J. Patrick Garverick, CFP, CPA

Accounting Manager, THE GARVS LLC

pat@phoenixbeach.com

Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.

In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.

During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.

Awards & accolades

  • Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
  • 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. 

Phoenix Beach was developed to provide comprehensive and up-to-date educational content for business professionals of all types. As part of our mission we strive to make sure that the material we present is delivered by knowledgeable and skilled instructors so our session participants receive a great educational experience and value.

FAQ

  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete webinar and respond to all polling questions asked during the webinar. CPE is issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here :https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you are Canadian Chartered Professional Accountant (CPA) many of our courses qualifies for your verifiable CPD requirements you will get your certificate for the program. You can check a tab of “Webinar Qualifies for” for the same.However please do verify with respective regulatory body about the eligibility for the same.
  • Many of our courses are approved by “CFP Board” for CE credits of certified financial Planner(CFP). Please check a tab of “Webinar Qualifies for” to verify whether webinar qualifies for CE credits for CFP or not.

Refund/Cancellation Policy

For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128

In case any of the course or live webinars gets cancelled we would be refunding you the entire amount (if paid).

Reviews

4.5
(91)
63%
24%
9%
4%
0%
  • WM
    WILLIAM MENKE , CPA
    May 1st 2020
    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.
RH
Roslyn Hutchinson , RTRP
I am glad to have joined this webinar to get a detailed understanding on the latest updates of S corporation formation (351) & addressing the liquidation issues was really new to understand the treatment of each. Learnt few new things about revocation & termination of 1120S
TS
TAMER SIBAI
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
James Lantz , CPA
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
Karen Markiewicz
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.
EC
Elaine Cirillo , EA
Patrick did a phenomenal job in giving in depth webinar on the intricacies of the S Corp taxation. It is always great to understand the IRS insights regarding their taxation processes. Thanks myCPE again for bringing an informative presentation.

NASBA Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

IRS Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary

CTEC Approved

MY-CPE LLC, 1600 Highway 6 South, Suite 250, Sugar Land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

upcoming Live CPE Webinars

S-Corp Preparation, Basis Calculations & Distributions – Form 1120S Schedule K & K-1 Analysis
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
How to deal effectively with IRS Examinations and Criminal Investigations?
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
Winning the Fraud Battle in the 21st Century: Prevention and Detection
Wednesday, November 25, 2020 | 10:30 AM EST View Details/Register
Tactical and Strategic Roth Conversions in 2020 after the Secure Act (Latest Update)
Wednesday, November 25, 2020 | 10:30 AM EST View Details/Register
QBO: Banking Feed and Reconciling - Make Rules & Automate
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Best Workshop on Partnership & LLC (Form 1065) Tax Return Review & Case Study (NEW)
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
How to not be an HR Failure – from an employment law perspective
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Detailed Workshop on IRS Audit, Representation, Resolution.
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
Practical Guide To Fraud 2020: Including Cash, Inventory & General Frauds
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
Crucial Insights for Real Estate: Part 3
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Fundamentals of Income Taxation of Trusts & Form 1041 Planning: What Every Advisors Needs to Know
Wednesday, November 25, 2020 | 12:00 PM EST View Details/Register
The Structure and Organization of the IRS
Wednesday, November 25, 2020 | 12:30 PM EST View Details/Register
Business Tax Update 2020
Wednesday, November 25, 2020 | 01:00 PM EST View Details/Register
Crucial Insights for Real Estate: Part 4
Wednesday, November 25, 2020 | 01:30 PM EST View Details/Register
  • Cost $120
  • CPE Credits 8
  • CE Credits 8
  • IRS Course ID GEHNZ-T-00073-19-O
  • CTEC Course ID 6273-CE-0049
  • Subject Area Taxes
  • Course Level Basic
  • Instructional Method group internet based
  • Prerequisites None
  • Advanced Preparation None
  • Who should attend? Enrolled Agent Tax Attorney Tax Practitioners Accountant CPA - Small Firm CPA - Mid Size Firm Accounting Firm Tax Pros CPA (Industry) Tax Firm Young CPA CPA in Business Tax Accountant (Industry) Tax Director (Industry) Accounting Practice Owners Senior Accountant Chief Accounting Officer Entrepreneurial Accountant Accounting Managers Staff of Accounting Firm

upcoming Live CPE Webinars

S-Corp Preparation, Basis Calculations & Distributions – Form 1120S Schedule K & K-1 Analysis
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
Annual Federal Tax Update - C & S Corporations, Partnerships & LLCs (Forms 1120, 1120S & 1065)
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
How to deal effectively with IRS Examinations and Criminal Investigations?
Wednesday, November 25, 2020 | 10:00 AM EST View Details/Register
Winning the Fraud Battle in the 21st Century: Prevention and Detection
Wednesday, November 25, 2020 | 10:30 AM EST View Details/Register
Tactical and Strategic Roth Conversions in 2020 after the Secure Act (Latest Update)
Wednesday, November 25, 2020 | 10:30 AM EST View Details/Register
QBO: Banking Feed and Reconciling - Make Rules & Automate
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Best Workshop on Partnership & LLC (Form 1065) Tax Return Review & Case Study (NEW)
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
How to not be an HR Failure – from an employment law perspective
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Detailed Workshop on IRS Audit, Representation, Resolution.
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
Practical Guide To Fraud 2020: Including Cash, Inventory & General Frauds
Wednesday, November 25, 2020 | 08:00 AM PST View Details/Register
Crucial Insights for Real Estate: Part 3
Wednesday, November 25, 2020 | 11:00 AM EST View Details/Register
Fundamentals of Income Taxation of Trusts & Form 1041 Planning: What Every Advisors Needs to Know
Wednesday, November 25, 2020 | 12:00 PM EST View Details/Register
The Structure and Organization of the IRS
Wednesday, November 25, 2020 | 12:30 PM EST View Details/Register
Business Tax Update 2020
Wednesday, November 25, 2020 | 01:00 PM EST View Details/Register
Crucial Insights for Real Estate: Part 4
Wednesday, November 25, 2020 | 01:30 PM EST View Details/Register