This online comprehensive case-driven online CPE/CE webinar is designed to get the accountant up to speed quickly in the area of basic calculations and distribution planning for the owners of pass-thru entities (i.e., S corporations, partnerships, and limited liability companies (LLCs)). The cornerstone of this online CPE/CE course is the line-by-line analysis of the Schedule K-1s and how it affects the basic calculations. This online CE webinar is taught using a Hands-On methodology. Real-world examples and cases are used to demonstrate the complex income tax code and regulations to enhance the participant's learning experience. Each attendee will receive the most comprehensive reference manual with numerous practice aids, real-world examples, and case studies.
- Detailed coverage of any new legislation affecting basis computations and distributions and changes to the schedule K-1s
- A line-by-line analysis of the Schedule K-1s to determine how the items affect an S shareholder’s stock and debt basis and a partner/member’s the outside basis and where the items get reported on Federal individual income tax return
- The three loss and deduction limitations on the owner’s individual income tax return (i.e. basis, at-risk, and other Form 1040 limitations)
- How cash or non-cash distributions affect the basic calculations and whether or not they are taxable to the owners