Best Workshop on S Corporation (Form 1120S) Tax Return Review & Case Study (NEW)

4.6 (22)

J. Patrick Garverick, CFP

THE GARVS LLC

Thursday, January 21, 2021 | 10:00 AM EST

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

8 CPE | 8 CE

$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 Federal Tax Law for 2021 Annual Filing Season Certificate program( IRS Approved : GEHNZ )

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Additional Dates

Feb 25, 2021 | 08:00 AM PST Register
Mar 04, 2021 | 10:00 AM EST Register
Mar 11, 2021 | 08:00 AM PST Register

Course Description

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

This class will review S corporation tax law by looking at case studies addressing issues and problems at both the S corporation and shareholder level.  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 S corporation tax laws with an emphasis on any new legislative changes (SECURE & CURES Act) including the Tax Cuts & Jobs Act (TCJA) new 20% qualified business income (QBI) deduction and changes to the interest deduction, fringe benefits, and entertainment expenses 
  • Requirements to make an S election (i.e., types and numbers of shareholders and the second class of stock issues)
  • Fixing late S corporation elections (i.e. Form 2553)
  • S corporation formation (§351) and liquidation issues
  • Revocation and termination of S corporations
  • Schedule K and K-1 – separately & non-separately stated income and expense items
  • Compensation issues including the tax treatment of fringe benefits
  • Built-in gains tax and other planning opportunities when converting a C to S corporation
  • Preparation of the Schedule M-2 and the ordering rules for distributions out of the AAA, PTI, E&P and OAA accounts
  • Tax treatment of stock redemptions (sale or distribution?) 
  • Overview of a shareholder stock and debt 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

  • Form and liquidate an S corporation and determine any tax ramifications to the corporation and shareholders
  • Calculate the corporation’s initial inside basis in the assets and shareholder’s stock and debt basis
  • Understand how the schedule K items get allocated to the shareholders on their individual Schedule K-1 and the effect on a shareholder’s stock and debt basis
  • Prepare a Schedule M-2 and determine how distributions are treated to the shareholders

Who Should Attend?

  • Enrolled Agent
  • Tax Attorney
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Entrepreneurial CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Accounting Practice Owners
  • Senior Accountant
  • Accounts Director
  • Entrepreneurial Accountant
  • Tax Managers
  • Accounting Managers
  • Staff of Accounting Firm

Testimonial

4.6

(22)
68%
27%
5%
0%
0%

DA

An excellent webinar. We get asked these questions frequently by our clients. Not only do I plan on sharing thi with ym firm, but with colleagues of other firms as well. It was simple enough for a new preparer to understand, but complete enough for the seasoned preparer.

NC

Very informative with examples to work through material

BB

Organized and well presented and backed up by plenty of examples and documentation. Excellent!

AL

Great tool