S-corp Basis, Partnership Basis, and Capital Accounts 2.5 Credits
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Taxation can be a maze, especially when it involves the intricate dance between individual and business-level concepts.
In this CE Tax Course, we will discuss basis calculations for S-Corps and Partnerships, as well as capital accounts and partnerships. Basis calculations represent a formidable challenge for tax practitioners, primarily due to the fact that basis is fundamentally an individual/Form 1040 concept. Individuals themselves bear the responsibility of determining their basis, yet all the essential elements required for this computation originate at the S-corporation or partnership level. This course focuses on demystifying the essential numerical components that underlie basic basis calculations, all while elucidating the profound impact these calculations wield on the tax landscape.
Moreover, it's worth noting that partnerships now confront a distinct requirement to report capital accounts under the tax basis of accounting. Unlike basis calculations, capital accounts represent an entity-level obligation. This webinar will guide participants through the process of ascertaining capital accounts, unraveling the intricacies of what these accounts signify, and the profound implications they carry for taxation.
Major Topics Covered:
Join this course as we demystify the nuances, unveil potential pitfalls, and emphasize the paramount importance of accurate reporting to avoid hefty penalties. Get ready to master the art of taxation like never before.
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Pre-requisites
Advance Preparation
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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.
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert and a well known presenter of continuing education courses. He has an impeccable acumen for tax subjects, by virtue of which, he is known to create very well researched course materials helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries.
Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics and much more.
He has presented over dozens of webinars on Form 1099 (MISC & R); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit and other issues relating to the modern-day household setting.
Moreover, Jason is known to be producing every other webinar/course a little different and updated from the previous one. No wonder, he is a top ranked presenter whose webinars and self-study course materials are very well received by the audience.
He also teaches 2 classes at Simpson College, Individual Income Tax and Business Analytics.
Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola. He has a big family that includes his wife, two sons, 5 cats and 3 dogs. Jason holds season tickets to University of Iowa football, and enjoys using his chainsaw. Topmost item in his 2022 bucket list is to learn how to properly ‘nose & taste’ whisky.
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Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.
To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.
After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.
We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.
JV
I just completed my first My-CPE course. The instructor was very good and stayed on topic. I found that I sometimes needed to pause the recording and even go back to review what was said, which helped a great deal.
Enjoyed this CPE discussing S-corp basis, partnership basis, and the importance of maintaining partnership tax capital accounts. The explanation was simple and to the point.
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