Tax Reform Impact on S Corporations & Partnerships Online Workshop

Summary

The Tax Cuts and Jobs Act of 2017 affects most small businesses, which presents an additional opportunity to assist your clients in maximizing tax savings. This hands-on course will look at partnerships and S corporations, their elections and adjustments, as well as how the new tax law affects them.

Objectives

Upon completion of this course, you will be able to:

• Describe the taxation of partnerships.
• Identify the effects of partnership elections.
• Calculate required basis adjustments.
• Identify adjustments to be made on Form 1065, Schedules M-1 and M-2.
• Describe the taxation of S corporations.
• Compute and report the built-in gains tax.
• Compare and contrast AAA, stock basis, and retained earnings.
• Identify the effects of S corporation elections.
• Identify adjustments to be made on Form 1120S, Schedules M-1 and M-2.
• Identify the provisions of the Tax Cuts and Jobs Act that affect partnership and S corporation taxation.

Course Details

This course includes an e-book and an online workshop recording.