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Simplified Tax Basis for Partnerships & S-Corporations - San Francisco Bay Chapter Virtual Meeting 2.2.22
Wednesday, February 02, 2022, 6:00 PM - 8:00 PM PDT
Category: Chapter Meetings

Simplified Tax Basis for Partnerships & S-Corporations
San Francisco Bay Chapter Virtual Meeting

Date:

Wednesday, February 2, 2022
6:00 - 8:00 PM

Location:

Online Meeting via Zoom
This will be a Zoom Meeting. Once you register and pay the Zoom link will be provided in your confirmation email for you to log in at the designated meeting time. Zoom does require registration before entering the meeting. 

Topic:

This seminar will concentrate on the concept of partnership and S-corporation tax basis. A simplified approach will be presented so that the tax preparer so that the tax preparer will have a working knowledge of how to calculate it and recognize the various requirements of providing certain information. Starting with tax year 2021, penalties will be assessed on partnerships not meeting proper compliance. (The reporting requirements and penalties began applying to S-Corps for tax year 2020). New for tax year 2021 is the Form 7200 for S-Corporations. Knowing when it needs to be filed will be addressed. There are also new rules regarding PPP loans that may require amending 2020 returns.Whether preparing Forms 1065, 1120-S or entering K-1 information on the personal return, there is a tax preparer’s responsibility to prepare the returns correctly. Missing required information in preparation or not verifying the K-1 you receive can also subject you to preparer penalty.

Presenter:

John Miller, EA
John G Miller EA is President and CEO of the firm, Accounting for TAX, located in San Mateo, CA and has been in the tax business for over 22 years. He holds a BS in accounting from Colorado State University and previously served 12 years as a faculty instructor for the San Mateo Community College District. During those years he was an instructor for courses in accounting, taxation, real estate, retirement, and investing. He is a member of the National Society of Accountants and currently serves on the Board of Directors of the California Society of Tax Consultants, San Francisco Chapter. Mr. Miller is known by those who attend his presentations to have the unique ability to explain complex topics in simple, understandable terms.

CPE Information:

2 Federal Law hours (Topics covering existing tax law)

IRS: 18QC1-T-01610-22-O
CTEC: 1000-CE-5015)

Knowledge Level: Intermediate (Basic knowledge helpful)

Cost:

Registration Fee (Member):  $20
Registration Fee (Non-Member):  $50

Registration:

Click the link below to register. 

650-918-7329
[email protected]


This presentation has been designed to meet the requirements of the Return Preparer Office, the California State Board of Accountancy; and the California Tax Education Council including code 31 of Federal Regulations10.6 (g). This does not constitute an endorsement by these groups. A listing of additional requirements to renew tax preparer registration may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA. 95812- 2890, or phone CTEC at (877) 850-2832, or on the Internet at www.ctec.org.

Contact: [email protected], 650-918-7329