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Published: January, 2022

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

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • SALT deduction cap workarounds
  • Different state PTE workarounds
  • Qualified net income
  • State tax forms
  • Other California considerations

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 online continuing education 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.1

An extensive review of the partnership tax laws with an emphasis on any new legislative changes (SECURE & CARES 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

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 purpose1

Recommended For

This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and Other tax professionals desiring to learn everything about tax return of partnership and LLC.1

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Accounting Managers
  • Annual Filing Season Program

Course Qualification

Webinar Qualifies For

  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals (Approval No. ACCT./BK 123456)
  • 1 CRE Credit for Accredited Financial Examiner (AFE) (Approval No. AFE 123456)
  • 1 CPD Credit for Accredited in Business Valuation (ABV) (Approval No. ABV 123456)
  • 1 CE Credit of Federal tax-related matters for Annual Filing Season Program (AFSP) (Approval No. AFSP 123456)
  • 1 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. CRTP)
  • 1 CPD Credit of Personal Development for Chartered Professional Accountant (CPA Canada) (Approval No. CPA Canada1 123456)
  • 1 CPD Credit of Personal/ Human Resources for Chartered Professional Accountant (CPA Canada) (Approval No. CPA Canada1 123456)
  • 1 CPE Credit for Certification in Control Self-Assessment (CCSA) (Approval No. CCSA 123456)
  • 1 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 1 CPD Credit for Certified Financial Forensics (CFF)
  • 1 CE Credit for Certified Financial Planner (US)
  • 1 CPE Credit for Certified Fraud Examiner (CFE)
  • 1 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 1 CPE Credit for Certified Government Financial Manager (CGFM)
  • 1 CPE Credit for Certified Information Systems Auditor (CISA)
  • 1 CPD Credit for Certified Information Technology Professionals (CITP)
  • 1 CPE Credit for Certified Internal Auditors (CIA)
  • 1 CPE Credit for Certified Management Accountants (CMA)
  • 1 CPE Credit for Certified Payroll Managers (CPM)
  • 1 RCH Credit for Certified Payroll Professional (CPP)
  • 1 CPE Credit for Certified Public Accountants (CPA-US)
  • 1 CPE Credit for Certified Valuation Analyst (CVA)
  • 1 CPD Credit for CA - ICAEW
  • 1 PL Credit for Chartered Financial Analyst (CFA)
  • 1 CPE Credit for Chartered Global Management Accountants (CGMA)
  • 1 CE Credit for Enrolled Agents (EA)
  • 1 RCH Credit for Human Resource Certification Institute (HRCI)
  • 1 CPE Credit for Internal Audit Practitioner (IAP)
  • 1 CE Credit for Tax Professionals
  • 1 CE Credit for Oregon Registered Tax Preparers (ORTP)
  • 1 CPE Credit for Payroll Compliance Practitioner (PCP)
  • 1 CPD Credit for Personal Financial Specialist (PFS)
  • 1 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 1 CE Credit for Registered Tax Return Preparer (RTRP)
  • 1 PDC Credit for SHRM Professionals
  • 1 CE Credit for Supervised Registered Tax Preparer (SRTP)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 PDC Credit for Associate Professional in Human Resources - International (aPHRi)
  • 1 PDC Credit for Professional in Human Resources (PHR)
  • 1 PDC Credit for Professional in Human Resources - California (PHRca)
  • 1 PDC Credit for Professional in Human Resources - International (PHRi)
  • 1 PDC Credit for Senior Professional in Human Resources - International (SPHRi)
  • 1 PDC Credit for Global Professional in Human Resources (GHPR)
  • 1 PDC Credit for Senior Professional in Human Resources (SPHR)
  • 1 CPE Credit of Business Law for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit for Licensed Public Accountant (LPA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)

Additional details

  • Course Level :
    Intermediate
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    Pre-Requesite
  • Advance Preparation :
    Advance Preparation

IRS APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

CTEC APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

Presenter

About Presenter

Shawn Parikh

Chief Executive Officer (CEO), Entigrity Solutions LLC

Shawn Parikh is the Chairman and Founder of Entigrity Solutions LLC. With over 15+ years of experience, he spearheaded the company operations, forging the foundations of Entigrity that work closely and exclusively with the accounting community.  Shawn’s strategic vision and leadership lead to the expansion and diversification of Entigrity in several areas over the years. Shawn understood numerous staffing-related challenges plaguing the accounting community. It is by that virtue that today Entigrity is serving 500+ accounting firms across North America.

Shawn is a Chartered Accountant by qualification, who began his career as a financial advisor in Insurance, Mutual Funds, and Retirement Plans. Shawn undertook public practice, serving small and Mid-size businesses, providing them with consulting and advisory services. Over time, he has provided consultation to 3000+ accountants and helped them convert some of their core challenges into opportunities.

His specialization areas include: 

  • Remote Working & Offshore Hiring for Accounting firms
  • Practice Management & Development
  • LinkedIn Marketing for Accountants
  • Accounting Technology

Shawn is known for his expert opinions on 

  • Build a 60% net margin Client Accounting Service Business
  • CAS & Advisory Practice services for accounting firms
  • Accountants need to think like Entrepreneurs

About Company

Entigrity Solutions LLC

www.entigrity.com/

Entigrity is a leading offshore staffing solutions provider to 600+ accounting and tax firms situated across the US, CA, and the UK). The company helps small and mid-sized accounting firms hire qualified and experienced offshore staff that works from our offices in India.

Headquartered in Sugar Land, TX, Entigrity has 7 offshore offices located across India; 3 of them in Ahmedabad and 1 each in Indore, Vadodara, Rajkot & Kochi. They are an ISO 27001:2013 certified organization for information security and ISO 9001:2013 certification for quality management. They exceed the standard compliances for best business practices in terms of information security and quality management. Entigrity has provided consultation/advice to over 3000 accountants and assisted them in converting some of their core challenges into opportunities. 

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
  • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
  • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

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