This practical, hands-on program is designed for tax professionals with multiple years’ experience. This course provides learning opportunities on intermediate to advanced pass through entities including S corporations and partnerships/LLCs, and selected individual and corporate topics. The course is designed to provide information on the tax rules and includes case studies and exercises, which challenge participants to apply the rules and complete actual tax forms. MAJOR TOPICS: PARTNERSHIPS AND LLCs- Joint Ventures; capital and basis; section 754; passive activity losses; distributions and terminations; outside basis (including at-risk basis). OTHER ENTITIES AND TOPICS- Estates and trusts; IRD items; Form 1041 deductions; fiduciary accounting; beneficiaries; grantor trusts; foreign issues. C-CORPS and S-CORPS- Passive activity losses; a risk rules; personal holding company; business credits; C-Corp liquidations; stock dispositions; changes in structure; shareholder basis (including debt basis); key business provisions of the Tax Cuts and Jobs Act. INDIVIDUALS- Passive activity losses; below market loans; AMT (in-depth); tax credits; key individual provisions of the Tax Cuts and Jobs Act. TIME MANAGEMENT- Time management strategies and prioritization. ENGAGEMENT MANAGEMENT- Planning; budgeting; client prepared schedules; time outside of busy season. COMMUNICATION- Providing instructions to interns, new staff and others; client interviewing skills; questioning and listening techniques. COURSE LENGTH: Three Days To learn more please call 800-775-9866.
This course will enable participants to handle pass through entities including S corporations and partnerships/LLCs and estate and trust issues as well as individual and corporate events in a more efficient and effective manner.
Prerequisites2 – 3 years experience and basic knowledge of taxation of estates and trusts, S corporations, partnerships and LLCs. Completion of TaxWatch Levels 1 and 2: Tax Staff Training or equivalent is recommended.
Advanced Preparation None
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