Basis-S Corps & Partnerships
webinarProduct Description
Course Outline
Course Title & Author Basis Robert Jennings CPA, CFP®
Credit Hours 2
Publication Date February 12, 2021
Introduction
Tax vs At Risk
S Corp Basis
Limitations on Loss Rules
Initial Basis
Basis increases
PPP Forgiveness
Basis decreases
No basis schedules maintained
Ordering Rules
Elective special ordering election
Debt basis
Distributions in excess of basis
Suspended losses
Basis worksheet
Debt Basis Worksheet
LLC/Partner Basis
Pictorial charts
Capital accounts
New tax basis rules
Ownership interest basis
Initial basis
Increases
PPP forgiveness
Decreases
Alternative basis calculation rule
Liabilities and basis
Recourse debt
Non recourse debt
At Risk rules
754 Partnership Step Up Basis election
Upon completion of this course you will have a greater understanding of outside tax basis as compared to at-risk basis and how the differences affect a tax return. The course then undertakes a detailed analyses of S corp basis rules: increases, decreases, debt, losses in excess of basis and suspended basis loss, and includes special discussion of the effects of PPP loan forgiveness. The S corp chapter concludes with blank, user-friendly basis calculation schedules. The LLC/partnership basis chapter analyzes the differences in partnership vs. S corp basis, including debt basis and types of debt as well as the special 754 step up basis rules.
Attendee Requirements
THIS IS A REBROADCAST - Earn Live CPE credit. This is a rebroadcast of an earlier webinar with a Live Moderator to answer your questions.
You must have a high speed internet connection, speakers connected to your computer, headphones or call in for audio and a monitor.
If you have more than 1 person PAID FOR and REGISTERED for the streaming webinar and all would like to watch from the same computer, please complete the Proctor Form and return to us AFTER completion of the webcast in order to receive CPE credit.
You can log in 10 minutes early. Please note-you will not see or hear the speaker until the prompt start time.
All streaming webinar times listed are Eastern Time Zone. Please adjust to your time zone.
Prerequisites
1 year tax preparation experience.Field of Study
Taxes-2.00Hours
2NASBA Categories
TaxesCourse Level
UpdateCourse Objectives
Upon completion of this course you should have a greater understanding of outside tax basis as compared to at-risk basis and how the differences affect a tax return. The course then undertakes a detailed analyses of S corp basis rules: increases, decreases, debt, losses in excess of basis and suspended basis loss, and includes special discussion of the effects of PPP loan forgiveness. The S corp chapter concludes with blank, user-friendly basis calculation schedules. The LLC/partnership basis chapter analyzes the differences in partnership vs. S corp basis, including debt basis and types of debt as well as the special 754 step up basis rules.
Available Options
Webinar
A scheduled, online course viewable on any computer or device with Zoom access; suitable for single person use. Webinars include: online course, eBook download, & PDF of PowerPoint slides. CPE credit will be issued based on log in time and percentage of polling questions answered.
View ProductSelf Study Options
On Demand
An online, previously recorded course viewed at your convenience. The course is added to your TaxSpeaker account for instant access and includes: eBook, PDF of PowerPoint slides, downloadable course video, & (1) exam required for CPE credits.
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Ebook/DVD
A digital, downloadable PDF course manual & DVD package which includes: digital manual, DVD of course presentation, PDF of PowerPoint slides & (1) exam required for CPE credit. The DVD will be shipped to you and the manual/slides will be added to your TaxSpeaker account to download at your convenience.
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Manual/DVD
A physical, printed copy of our course manual and a course DVD. Included is: manual, DVD, PDF of PowerPoint slides, & (1) Exam required for CPE credit. The manual and DVD will be shipped to you; the slides will be added to your TaxSpeaker account to download at your convenience.
View ProductSpeaker Details
Bob Jennings CPA, EA
Disclaimer
Fees and Schedule - This TaxSpeaker Internet-Live webcast will begin and end promptly at stated time. All 8-hour webcasts will break for lunch, and have 2, 10-15 minute breaks.
Attendees must answer 75% of all polling questions given during the day to obtain the full hours of CPE Credits.
Cancellation, Transfer and Refund Policy Registration fees will be refunded in full for up to 30 days in advance of the seminar. Registrations cancelled between 1-30 days prior to the seminar date are subject to a $50 cancellation fee. For more information regarding administrative policies, complaints and refunds please contact us at 877-466-1040 for auxiliary aid needs or visit www.taxspeaker.com.
NO REFUNDS/TRANSFERS WILL BE ISSUED AFTER THE SEMINAR BEGINS. NO EXCEPTIONS.
Continuing Education
Jennings Advisory Group, LLC 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. NASBA Sponsor #108251
Jennings Advisory Group, LLC has entered into an agreement with the Return Preparer Office, 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 Return Preparer office as to the quality of the program or its contribution to the professional competence of the enrolled individual. IRS Sponsor Number 5KBKR.
ALL OF OUR TAX COURSES HAVE IRS APPROVAL UNLESS OTHERWISE NOTED**
