Description:
Recently, the IRS has put more pressure on how businesses assess and report shareholder and partner basis. These advancements are reflected in changes in the forms. The computations involved in establishing the tax basis for partnership interest, S Corporation shareholder shares, and loans are thoroughly examined in this program. on Forms 1065, Schedule K-1, and 1120S, Schedule K-1. The processes and their numerous potential dangers will be illustrated with filled-out forms.
This two-hour webinar will cover capital accounts, partnerships, and basis calculations for S-Corps and partnerships. Because basis is essentially an individual/Form 1040 concept—individuals are responsible for defining their basis—calculations of basis can be challenging for practitioners. However, the S-corporation or partnership level .
This course concentrates on the numbers required to perform basis calculations and the real effects of such calculations. Furthermore, partnerships must now disclose capital accounts using the tax basis of accounting. In contrast to basis, capital accounting is a necessity for entities. This webinar will cover the implications of a capital account and the process of determining one.
Session Highlights:
Areas covered in the Session:
Who Should Attend:
CPA, EA, attorney, and staff
Tax department
CFOs and controllers
Accounts payable and Accounting Managers
Public accountants
Sole Proprietors
Owners
Description:
Recently, the IRS has put more pressure on how businesses assess and report shareholder and partner basis. These advancements are reflected in changes in the forms. The computations involved in establishing the tax basis for partnership interest, S Corporation shareholder shares, and loans are thoroughly examined in this program. on Forms 1065, Schedule K-1, and 1120S, Schedule K-1. The processes and their numerous potential dangers will be illustrated with filled-out forms.
This two-hour webinar will cover capital accounts, partnerships, and basis calculations for S-Corps and partnerships. Because basis is essentially an individual/Form 1040 concept—individuals are responsible for defining their basis—calculations of basis can be challenging for practitioners. However, the S-corporation or partnership level .
This course concentrates on the numbers required to perform basis calculations and the real effects of such calculations. Furthermore, partnerships must now disclose capital accounts using the tax basis of accounting. In contrast to basis, capital accounting is a necessity for entities. This webinar will cover the implications of a capital account and the process of determining one.
Session Highlights:
Areas covered in the Session:
Who Should Attend:
CPA, EA, attorney, and staff
Tax department
CFOs and controllers
Accounts payable and Accounting Managers
Public accountants
Sole Proprietors
Owners
Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses. He is known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.
He has presented dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credits, and other issues relating to the modern-day household setting.
