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

J. Patrick Garverick, CFP, CPA

THE GARVS LLC

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • CTEC

8 Credits

$120

Subject Area

Taxes

Webinar Qualifies For

8 CPE credit of Taxes for all CPAs

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

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

8 CE credit of Federal Tax for Maryland Tax Preparers

8 CE credit of Federal Tax for Oregon Tax Preparers

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

8 General Educational credit for Tax Professionals / Bookkeepers / Accountants

You need to register for the webinar to watch the video.

Click Here to Register

Before starting this self study program, please go through the instructional document.

The topic is also scheduled as live webinar on the following dates

May 20, 2021 | 08:00 AM PDT Register
May 27, 2021 | 10:00 AM EDT Register
Jun 03, 2021 | 08:00 AM PDT Register

Overview

  • S Corporation (From 1120S) Tax Return Review & Case Copyright
    5 mins
  • Expansion of Cash Method of Accounting for Small Business
    44 mins
  • Treatment of S Corporation Termination Year
    89 mins
  • Transfer of Property Requirement
    114 mins
  • Reasonable Compensation & other deduction
    156 mins
  • Form 1120S & Schedule K/K-1 Reporting
    187 mins
  • Schedule K-1 Reporting - Net Invest Income
    225 mins
  • Computational & Reporting Rules for RPEs
    260 mins
  • Modifications of Limitation on Business Intrest
    296 mins
  • Tax Treatment to the S Corporation - Non Liquidating Distributions
    326 mins
  • Schedule M-2 ordering rules
    360 mins

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

  • To form and liquidate an S corporation and determine any tax ramifications to the corporation and shareholders
  • To calculate the corporation’s initial inside basis in the assets and shareholder’s stock and debt basis
  • To 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
  • To prepare a Schedule M-2 and determine how distributions are treated to the shareholders

Who Should Attend?

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