This comprehensive online continuing education training is designed to get the accountant up to speed quickly with partnership and limited liability company (LLC) formation and preparation issues as well as a complete understanding of calculating a partner and LLC member’s basis. The cornerstone of this Online CPE/CE Course is the in-depth line-by-line analysis of the Form 1065 Schedule K and K-1 and how these items affect the partner/member’s individual income tax return. Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies.
This online CPE/CE Tax webinar covers the following key topics:
- An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CARES Act)
- Review Form 1065 to learn how income statement items get reported on the partnership/LLC tax return (i.e. page 1 versus Schedule K) and flow thru to the partner/members on Schedule K-1
- Analyze the Schedule K-1 line-by-line and discuss where the items get reported on the individual’s Federal income tax return and how the items affect the partner/member’s the outside basis
- Look at what relevant information related to the 3.8% net investment income tax needs to be reported to the partners/members
- Formation issues including the mandatory allocation of the §704(c) pre-contribution gain or losses back to the contributing partner/member
- The purpose of tax and §704(b) book capital account
- Reporting recourse and non-recourse debt on the Schedule K-1
- Tax ramifications and reporting of cash and non-cash distributions including disproportionate distributions of “hot assets”
- Overview of the §754 elections for optional basis adjustments triggering §743 (transfer of interests) and §734 (distributions)
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.
During this webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.
Free E-Book Worth $200
Get a copyright-protected E-Book related to a course worth $200 for absolutely free, if you register now. You have a limited period offer!
- To know how to form a partnership and calculate the partnership’s initial inside basis in the assets and the partner’s outside basis in the entity.
- To prepare a basic partnership (Form 1065) Schedule K including the reporting of cash and non-cash distributions.
- To analyze how the schedule K items get allocated to the partners/members on their Schedule K-1.
- To determine the list of the three main reasons for calculating a partner/member’s basis in a partnership/LLC.
- To calculate a partner/member’s outside basis and determine if losses and deductions are limited on their individual income tax return.
- This CPE online course is for any Professional or Staff interested in learning more about partnership taxation.
- This online CE IRS-approved course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals who want to have a comprehensive understanding of Partnerships and LLCs.
Who Should Attend?
- Bookkeepers & Accountants & Tax Preparers
- California Registered Tax Professional
- Certified Valuation Analysts
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Entrepreneurial Accountant
- Entrepreneurial CPA
- Maryland Tax Preparers
- Oregon Tax Preparers
- Tax Attorney
- Tax Director (Industry)
- Tax Firm
- Tax Managers
- Tax Practitioners
- Tax Preparer
- Tax Professionals
- Tax Pros
- Young CPA