Best Workshop on Partnership & LLC (Form 1065) Tax Return Review & Case Study (NEW)

4.7 (24)

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

Wednesday, May 05, 2021 | 10:00 AM EDT

  • AFSP
  • CPA
  • CVA
  • EA
  • Tax Preparer
  • CTEC
  • CFE

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

8 CE credit of Federal Tax Subjects for California Tax Professionals (CTEC Approved - 6273)

8 CE credit of Federal Tax for Oregon Tax Preparers

8 CE credit of Federal Tax for Maryland Tax Preparers

8 CE credit of Federal Tax for Enrolled Agents ( IRS Approved : GEHNZ )

8 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

May 19, 2021 | 10:00 AM EDT Register
May 26, 2021 | 08:00 AM PDT Register
Jun 02, 2021 | 10:00 AM EDT Register

This webinar is also available in self-study (On-Demand)

Click Here

Course Description

With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a partnership/LLC course focusing on the hottest tax topics and most frequently encountered issues. This case-driven course will deal with both partnership/LLC and partner/member developments addressing the most common, yet complex Federal partnership/LLC issues and problems.

This online CPE webinar will review partnership tax law by looking at case studies addressing issues and problems at both the partnership and partner levels.  Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies. Topics include but are not limited to:

An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CURES Act) including the Tax Cuts & Jobs Act (TCJA) 20% qualified business income (QBI) deduction and changes to the interest deduction, fringe benefits, and entertainment expenses

  • Overview of different forms of business entities including the check-the-box regulations 
  • Formation issues including the mandatory allocation of the §704(c) pre-contribution gain or losses back to the contributing partner/member
  • Schedule K and K-1 – separately & non-separately stated income and expense items
  • Substantial economic effect requirement to have special allocations to the partners/members
  • Allocation of recourse & non-recourse debt on K-1s
  • Guaranteed payment issues and tax treatment of fringe benefits
  • Self-employment tax issues and pitfalls
  • §754 optional basis adjustments and mandatory adjustments
  • Tax treatment of distributions - cash versus non-cash & liquidating versus non-liquidating
  • Overview of a partner/member’s outside basis and deductibility of losses

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

  • To form a partnership and calculate the partnership’s initial inside basis in the assets and partner’s outside basis in the entity
  • To understand how the schedule K items get allocated to the partners/members on their individual Schedule K-1
  • To prepare a partnership’s initial tax and §704(b) book capital accounts and understand their purpose

Who Should Attend?

  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Practitioners
  • Tax Pros

Testimonial

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    [no_of_record] => 24
    [average] => 4.7083
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4.7

(24)
75%
21%
4%
0%
0%

MR

Excellent presentation by Patrick. Although new to the subject matter, I feel confident enough, after some studies of the related tax regulations, to seek out doing tax prep and planning partenership customers relating to section 704. Understanding the each concepts felt natural for me in being able interpret what he intended to teach. Nothing about his delivery was confusing to me at all, He was clear and concise, and I look forward to learning and gaining more in-depth knowledge more from Patrick on this subject matter.

LB

I'm a PhD CPA, full professor. I've been attending these webinars as a break from my usual CPE regime. I was stunned by the depth of this presentation as many of these webinars, by design, just hit on the surface. Twenty minutes into this webinar I had to link in a colleague as this webinar was knowledgeably discussing points that we had researched in the past. The examples were clear and concise. The presentation was spot on. We noticed how well he covered for a math mistake he made in an example. How he acknowledge the error, corrected it and then expanded on the example.

BD

This presentation regarding Partnership Allocation was very informative and presented with a highly skilled technical presenter that gave examples for different kinds of fact situations. However, the information could had been extended maybe an hour longer or more. Excellent Presenter!

SB

Patrick gave a very educative and informative webinar with lots of facts and simple illustrative examples, especially using himself and Jason as partners. I learned a lot from webinar, 704 (c) Scenario illustrations were useful but difficult to grasp. I did learn a lot from the presentation

AT

Great presentation! I enjoyed listening to the presenter and gained valuable knowledge about Amending Tax Returns and more... Time well spent. Thank you so much for sharing your expertise and knowledge. The quality of this course and others that I have taken are good and they are reasonably priced for the material presented.

JH

This webinar came at a very good time as I am in the process of amending a return. All the question I had were answered in this discussion and I am very appreciable of the knowledge I gained. thank you very much. he presenters are good and display a wealth of knowledge.