Partnership & S Corporation Essentials: Reporting Basis and More
8.00 Credits
Member Price $289.00
Price will increase by $35 after 7/23
Non-Member Price $349.00
Price will increase by $35 after 7/23
Overview
This program addresses the critical issues and special opportunities facing partnerships and S corporations, with a focus on the new IRS guidelines on reporting tax basis capital accounts and shareholder stock and loan basis reporting. The impact of recent legislation on the tax structure of S and C corporations will be addressed, as well as the significant impact of the new Section 199A flow-through entities deduction on S corporations and the relationship between limited liability companies and partnerships.
Highlights
- Recent legislative, rules and tax developments impacting partnerships and their partners and S corporation shareholders.
- Passage of Tax Relief for American Families and Workers Act? o Research expense update - amortization or expensing? o Section 163(j) interest expense limitation update o Capitalization, expensing and Bonus depreciation changes.
- Importance of partner capital accounts.
- New Schedules K-2 & K-3 and filing exceptions.
- Reporting partner capital accounts and how to calculate partner basis.
- S corporation shareholder basis in stock and debt.
- New Schedules K-2 & K-3 and filing exceptions.
- New CTA Reporting of Beneficial Ownership in 2024
- Limitation of deduction of losses.
- AAA and distributions.
Prerequisites
Basic working knowledge of partnership and S corporation taxation.
Designed For
Practitioners with partnership and S corporation clients and those seeking knowledge on thorny partnership and S corporation issues.
Objectives
- Define the tax consequences and various liabilities for both partnerships and LLCs.
- Apply the latest tax rules and regulations of S corporations.
- Discuss the new Section 199A rules and regulations and how their significant impact S corporations.
- Distinguish and define complex S corporation issues.
- Apply planning opportunities and potential pitfalls.
Preparation
None
Notice
• This event is paperless unless you elect to pay for printed materials. • All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website. • Parking and lunch are provided on-site
Leader(s):
Leader Bios
Doug Van Der Aa, Van Der Aa Tax Ed, LLC
Douglas Van Der Aa, CPA, J.D., is a lively and energetic speaker — especially on the subject of taxes and ethics. For 10 years, Doug has been a highly rated speaker and seminar leader for CPA associations and other organizations throughout the country. He has more than 25 years of professional experience, including tax practice in CPA firms and the practice of transactional business and real estate law as an attorney. As a CPA, Doug's practice concentrated on the tax needs of closely held businesses, with their related pass-through entities, complex individual returns, estates and trusts. Doug taught as an adjunct instructor for ten years and as assistant professor of accounting and taxation for one year in Grand Valley State University's Seidman College of Business, where he taught in both the undergraduate and MST programs. He earned his bachelor of arts degree with a major in accounting from Dordt College and his Juris Doctor from the University of Illinois College of Law.
Non-Member Price $349.00
Member Price $289.00