VIRTUAL ONLY: Reviewing Partnership Tax Returns: What are you Missing?

Description

The partnership section of the Internal Revenue Code is arguably one of the most difficult sections to comprehend. That complexity, and the reliability of tax software to properly handle it, can create many issues for you and your staff when processing you client's LLC and partnership tax returns. Join us as we discuss the common errors practitioners make on partnership tax returns that are often missed by review staff. The intent is to sharpen skills for reviewers by examining case studies and discussing issues where additional information from the client may be warranted and areas of tax law where proper treatment requires additional analysis and information. Multiple issues will be discussed including income, deductions, K-1 reporting, and more! This course follows a highly illustrative case study format to increase participant comprehension and retention.

Highlights

  • Form 1065
  • Schedules K and K-1
  • Schedules M-1 and M-2
  • Form 4562
  • Form 4797
  • And More!

Objectives

  • Identify common mistakes made on partnership tax returns.
  • Determine strategies to avoid making mistakes on partnership tax returns.

Designed For

CPAs working with clients requiring up-to-date expertise in partnership taxation for the current tax season



Leaders

Joseph Sanford

Joseph Sanford is President and CEO of Sanford & Company, P.A. located in Fort Smith, Arkansas. While involved in all aspects of the firm, he focuses his efforts in estate planning, litigation support, management consulting, and technology consulting. He also frequently serves as a moderator for various tax, accounting, technology, and ethics continuing education seminars for CPAs. Sanford received his BSBA from the University of Arkansas with a major in accounting and a minor in computer sciences in 1977. Sanford has been a practicing accountant since 1977. Prior to establishing his own firm, he worked as a manager at a large local CPA firm, which was merged with a much larger regional firm. This provided the catalyst for him to establish his own firm, Sanford & Company, P.A., in 1988. He is a member of the AICPA and the Arkansas Society of CPAs (ASCPA), the chair of the ASCPA Continuing Education Committee, past chair of the ASCPA Ethics Committee, and past chair of the ASCPA Quality Review Committee. He is also a member and past president of the Western Arkansas Estate Planning Council, past vice president of ASCPA, and past president of the Western Chapter of the ASCPA. Sanford is a frequent speaker at CPE seminars and conferences and received the ASCPA Discussion Leader of the Year Award for 2012 and 2017.