Surgent's Technical Business Practice Issues and Tax Forms for Experienced Practitioners
8.00 Credits
Member Price $279
Non-Member Price $299
Overview
Don’t let the title frighten you. It is critical that staff be trained on the increasingly complex forms-related issues that challenge them each busy season. This course will help experienced staff focus on the essential amidst the cacophony of IRS and legislative changes and avoid costly mistakes.
This course brings to the forefront advanced preparation issues, from individual returns to flow-through entities such as S corporations, LLCs, and partnerships.
Highlights
- Schedules K-2 and K-3 and filing exceptions
- Form 7203
- IRS Tax Pro Account
- IRS modernization initiatives
- Information Returns Intake System (IRIS)
- Identity Theft warnings
- IRS guidance for the marijuana industry
- “Recycled” Form 1099-NEC to report nonemployee compensation
- Form 1065 steps for reporting capital
- Centralized audit regime; late filing penalties and small partnership relief
- “Substance over Form” argument of shareholder loans
- Advanced study of “At-Risk” loans
- Employer W-2 correction requests
- White House 2024 Budget Points
- Don't get caught watching the paint dry -- What is hot and new
- What is terminating S corporations today?
- Special allocation issues of §704
- Final regulations for allocating depreciation recapture to partners and members of LLCs
Prerequisites
Basic- to intermediate-level experience in preparing Forms 1120-S and 1065
Designed For
Accounting and Finance Professionals who are involved in planning, preparing, or reviewing complex returns
Objectives
- Properly complete several tax forms related to certain advanced technical issues which arise in preparing Forms 1065 and 1120-S
- Understand advanced technical practice issues facing practitioners today
Preparation
None
Leader(s):
Leader Bios
Michael Frost, Shareholder & Tax Partner, MDA Professional Group, P.C.
Mike Frost, CPA, is an associate and shareholder of MDA Professional Group, P.C. and has been with the Albertville office since 1989. Currently a tax partner, he specializes in all areas of income tax and small business consulting including but not limited to: business and individual income tax preparation and planning, estate and retirement planning, estate, gift, and trust tax preparation, small business consulting, Medicare planning and other elder care, audit representation, religious groups and clergy. Frost has conducted CPE engagements and seminars for the Alabama Society of Enrolled Agents and the Childcare Resource Network of Alabama and is an instructor for the Alabama Society of Certified Public Accountants. Mike has served as technical advisor for tax articles for the Sand Mountain Reporter newspaper, and has been a regular on the public speaking circuit. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants, the Alabama Society of Certified Public Accountants, and the Accountants Global Network, International. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA. Mike is an ordained minister and pastor. He enjoys music, and is a vocalist in a local Christian band. He is also active in his community as an Albertville Rotarian. Mike resides in Albertville, Alabama with his wife, Kay, and two children, Dylan and Sarah.
Non-Member Price $299
Member Price $279