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1065 - Understanding Partnerships Tax Returns

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ACPEN Webcasts

Online, OK 00000

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2.00 Credits

Member Price $79

Non-Member Price $109

Overview

Form 1065 is the tax return filed by partnerships, which is one of the most common forms of business organizations in the United States. This course provides an in-depth understanding of the preparation and filing of Form 1065.

The course will cover the basics of partnership taxation, including how partnerships are taxed, the different types of partnerships, and the tax obligations of partners. It will also discuss the importance of keeping accurate financial records, the role of the partnership agreement in tax reporting, and the filing deadlines for Form 1065.

Participants will gain a comprehensive understanding of the various sections of Form 1065, including the Schedule K-1, which reports each partner's share of the partnership's income, deductions, and credits. The course will also cover how to report partnership income, expenses, and deductions, as well as the tax implications of buying and selling partnership interests.

In addition, the course will provide an overview of common errors and omissions made when preparing Form 1065, and how to avoid them. It will also cover recent changes in tax laws that affect partnership taxation.

Overall, this course is designed for tax professionals, accountants, business owners, and individuals who need to understand the intricacies of partnership taxation and the preparation and filing of Form 1065. Upon completion of the course, participants will have a solid understanding of partnership taxation and will be able to prepare and file Form 1065 with confidence.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

  • Partnership taxation
  • Different types of partnerships
  • Tax obligations of partners  
  • Role of the partnership agreement in tax reporting  
  • Filing deadlines of Form 1065   

Prerequisites

None

Designed For

CPAs, EAs, and financial professionals

Objectives

  • Discuss partnership taxation, prepare and file Form 1065 with confidence  

Preparation

None

Leader(s):

Leader Bios

Arthur Werner, Werner-Rocca Seminars, LTD

Arthur Werner, JD, MS, is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Arthur’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals. In addition, he is an adjunct professor of taxation in the master of science in taxation program at the Philadelphia University. He lectures extensively in the areas of estate planning, financial planning and estate and gift taxation to attendees.

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Non-Member Price $109

Member Price $79