CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

Understanding Basis for Pass through Entities

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Nicholas Preusch

Nicholas Preusch

Tuesday, July 20, 2021 | 02:30 PM EDT

  • AFSP
  • CPA
  • EA
  • Oregon Tax Preparer
  • CTEC
  • Maryland Tax Preparer

1 Credit

$10

Subject Area

Taxes

Webinar Qualifies For

1 CPE credit of Taxes for all CPAs

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

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

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

1 CE credit of Federal Tax for Maryland Tax Preparers

1 CE credit of Federal Tax for Oregon Tax Preparers

1 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Upcoming Webinars

everything you need to know about partnerships

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Jul 26, 2021 | 09:00 AM EDT View Details

basis calculations & distributions for pass-thru entity owners schedule k-1 analysis (latest)

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Jul 26, 2021 | 09:00 AM EDT View Details

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Jul 26, 2021 | 10:00 AM EDT View Details

yellow book boot camp – introduction to nfp and governmental accounting & auditing

Jul 26, 2021 | 10:00 AM EDT View Details

excel accountant: intro to spreadsheets in-depth

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2020 t2 - step-by-step guide preparing t2 return in profile

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workplace culture

Jul 26, 2021 | 10:00 AM EDT View Details

employment law – what will get you sued in 2021

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Jul 26, 2021 | 10:30 AM EDT View Details

ethics irs circular 230 - controversy side of circular 230

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Jul 26, 2021 | 10:30 AM EDT View Details

s-corp preparation, basis calculations & distributions – form 1120s schedule k & k-1 analysis

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Jul 26, 2021 | 11:00 AM EDT View Details

agile auditing

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Jul 26, 2021 | 11:00 AM EDT View Details

itemized deduction updates - with examples & case studies (basic overview)

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Jul 26, 2021 | 11:30 AM EDT View Details

excel’s data validation tools - keep out bad data from the start

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Jul 26, 2021 | 11:30 AM EDT View Details

Course Description

Most US businesses are not subject to the corporate income tax; rather, their profits flow through to owners or members and are taxed under the individual income tax. Pass-through businesses include sole proprietorships, partnerships, limited liability companies, and S-corporations. The share of business activity represented by pass-through entities has been rising for several decades.

The IRS is scrutinizing, more closely than ever, the basis owners have and the transactions for which the computation of basis is required. This comprehensive CPE/CE course is designed to bring you up to speed quickly in the area of basis calculations.

This online continuing education will look at the ins and outs of basis for S Corps and partnerships along with the importance of properly calculating basis. In this online CPE/CE course we will start with S Corps and determine how to calculate the basis in an S Corp interest, along with ordering elections for properly calculating basis. Then we will look into partnerships and after determining the difference between inside and outside basis, we will look at how basis is calculated for a partnership in order to determine things like the amount of loss that is deductible or if any distributions are taxed.

Major topics covered in this online CPE/CE webinar:

  • The four loss and deduction limitations on the owner’s individual income tax return (i.e., basis, at-risk, passive and excess business loss limitations).
  • How cash or non-cash distributions affect the basis calculations and whether or not they are taxable to the owners.
  • Compare the tax treatment of the sale of a shareholder’s stock in a S corporation and a partner’s interest in a partnership.
  • What constitutes debt basis for a S corp shareholder under the final regulations.
  • How recourse and non-recourse debt affect a partner or member’s basis calculations and amount at-risk.

Click for webinars on Latest Tax Updates

Learning Objectives

  • To describe the importance of Basis calculations
  • To calculate outside basis for a partnership
  • To calculate stock and debt basis for an S Corp
  • To elaborate the difference between inside and outside basis for partnerships
  • To determine when calculating basis is necessary

Who Should Attend?

  • California Registered Tax Professional
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Maryland Tax Preparers
  • Oregon Tax Preparers
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Professionals
  • Tax Pros
  • Young CPA

Testimonial

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