Tax Forms Boot Camp: LLCs, Partnerships, and S Corporations Webinar

• Learn in detail about the preparation of Form 1120S, Schedules M-1, K, and K-1
• Learn in detail about the preparation of Form 1065, Schedules M-1, K, and K-1
• Identify and handle commonly found S corporation and partnership tax issues

• Compare and contrast the tax consequences, opportunities, and pitfalls of operating a business as a partnership, LLC, or S corporation
• Gain a comprehensive understanding of income tax laws for S corporations from eligibility and election, to tax return preparation, stock basis, and loss limitation issues
• Recognize and properly handle special pass-through items of income and expense
• Accurately prepare S corporation returns and reconcile book income to taxable income
• Accurately prepare partnership returns and reconcile book income to taxable income
• Properly handle the tax treatment of distributions to shareholders, partners, or members
• Understand the special restrictions and sanctions for tax year end selection
• Review the basics of partnership and LLC formation and basis calculation
• Self-employment tax or NOT, for each entity
• Filling in K-1s correctly for S corporations, partnerships, and LLCs
• How the Affordable Care Act affects tax returns
• The most frequently used forms and schedules, including some form "oddities"