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Basis Calculations & Distributions For Pass-thru Entity Owners Schedule K-1 Analysis (Latest)

  • CPA (US)
  • EA
  • AFSP
  • CVA
  • CRTP
  • CPA/PFS
  • ChFC
  • CGFM
  • Maryland Tax Preparer
  • ORTP
  • CWS
  • CFIRS
  • RICP
  • FSCP
  • WMCP
  • CBA/MCBA
  • CASL
  • ChSNC
  • Accountant/Bookkeeper/Tax Professionals
Basis Calculations & Distributions For Pass-thru Entity Owners Schedule K-1 Analysis (Latest)

Free (Only Today)

8 Credits

Subject Area

Taxes
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

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.

This IRS-Approved Online Tax CE Webinar includes the following topics but is not limited to:

  • 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
  • Compare the tax treatment of the sale of a shareholder’s stock in an S corporation and a partner’s interest in a partnership
  • What constitutes debt basis for an S corporation shareholder under the final regulations
  • The tax ramifications of repaying loans to S corporation shareholders and on open account debt
  • How recourse and non-recourse debt affect a partner or member’s basis calculations and amount at-risk

J. Patrick Garverick is one of the most admired and best-reviewed Tax Speakers in the country and we are offering the classes at a much-discounted price. His courses have been best-reviewed by audiences for:

  • Quality of Content
  • Relevance and Practical Case studies
  • Best Teaching Approach
  • 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. 

Recommended for Tax professionals that need an in-depth training course on basic calculations and distributions rules for S-Corporations, partnerships, LLCs and their owners​.

Click here for webinars on IRS Audit Representation | Estate Planning CPE Webinars

Free E-Book Worth $200
Get copyright protected E-Book related to course worth $200 for absolutely free, if you register now. Limited Period offer!

Learning Objectives

  • To identify the 3 main reasons for calculating a shareholder’s basis in a S corporation and partner/member’s basis in a partnership/LLC
  • To calculate the stock and debt basis for S corporation shareholders
  • To calculate the basis for partners and members of a LLC
  • To calculate losses allowed from at-risk activities
  • To review the Form 1120S and Form 1065 Schedule K-1s to determine how the line items affect basis calculations and get reported on the individual owner’s Form 1040

Course Qualification

Webinar Qualifies For

  • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 8 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 8 CE Credit of Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00063-19-S)
  • 8 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP)
  • 8 CPE Credit of Taxes for Certified Valuation Analyst (CVA)
  • 8 CE Credit of Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0275)
  • 8 CPD Credit of Taxes for Personal Financial Specialist (PFS)
  • 8 CE Credit for Chartered Financial Consultant (ChFC)
  • 0 CPE Credit for Certified Government Financial Manager (CGFM)
  • 8 CE Credit of Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00063-19-S)
  • 8 CE Credit of Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00063-19-S)
  • 8 CE Credit for Certified Wealth Strategist (CWS)
  • 8 CE Credit for Certified Fiduciary and Investment Risk Specialist (CFIRS)
  • 8 CE Credit for Retirement Income Certified Professional (RICP)
  • 8 CE Credit for Financial Services Certified Professional (FSCP)
  • 8 CE Credit for Wealth Management Certified Professional (WMCP)
  • 8 CPE Credit of Taxes for Certified Business Appraiser (CBA)/Master Certified Business Appraiser (MCBA)
  • 8 CE Credit for Chartered Advisor in Senior Living (CASL)
  • 8 CE Credit for Chartered Special Needs Consultant (ChSNC)

Additional details

  • Course Level :
    Basic
  • Credits :
    8
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

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.

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.

Presenter

About Presenter

J.Patrick Garverick, CPA, MT, CFP®

Owner, The Garvs, LLC (dba The Tax U)

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. 

About Company

The Garvs, LLC (dba The Tax U)

thetaxu.com/

Since 1993 award winning author and instructor J. Patrick “Pat” Garverick, CPA, MT, CFP® has been providing tax and financial training educational courses to business professionals through out the country.  Pat is recognized as one, if not THE best tax instructor in the country.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be 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
  • 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 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
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
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Free (Only Today)

8 Credits

Subject Area

Taxes