1065 Mastering Preparation and Planning Part 1 WEBCAST

Overview

The IRS has made important changes to the Form 1065. We’ll present a comprehensive course on preparing Form 1065, including in-depth treatment of the important new changes. Join experts Greg White, CPA, and George Koutelieris, CPA as they walk you through how to complete Form 1065 and apply new rules that are crucial to preparing partnership tax returns.

Highlights

Changes on Schedule K. Schedules K-2 and K-3. When does a business involving spouses require a partnership return? How to eliminate late-filing penalties for partnership returns. When must a partnership return be filed? How to apply the bonus depreciation rules to partnership step-ups under Schedule 743. New IRS form allowing revocation of section 754 election. When it’s possible to revoke the election. Answering Form 1065 questions on passive activity grouping.

Prerequisites

None.

Designed For

CPAs and tax practitioners.

Objectives

Identify circumstances under which a business involving only two spouses requires a partnership return. Identify strategies to eliminate late-filing penalties for partnership returns. Compute bonus depreciation on partnership step-ups under Schedule 743. Identify circumstances where a partnership can revoke a section 754 election. Recognize how to determine how to answer Form 1065 questions on passive activity grouping.

Preparation

None.

Notice

None.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

Gregory White, President, WGN PS

Leader Bios

Gregory White, President, WGN PS

4.96 stars out of 5
“These 2 rock. [They are] prepared and knowledgeable.”
“George & Greg always do a great job! They are always super helpful.” - past attendees

Greg White, CPA, has practiced tax accounting for more than 35 years. He is founder, shareholder, and President of CPA firm WGN, P.S. in Seattle, Washington, which serves a successful entrepreneurial client base. He also owns and operates State of the Art Tax, LLC, a tax education company. Greg is in his twelfth year as an Adjunct Professor at the Golden Gate University’s Seattle Campus. Greg is licensed to practice in and has argued cases before the U.S. Tax Court. He has been named a “Top 50” IRS Practitioner by CPA Magazine. Greg has extensively presented tax CPE, predominantly on the west coast, over the last decade and has written and presented live courses and webinars for CCH and others nationally. He has presented tax topics in the Pacific Northwest on TV including spots on KOMO TV and King TV.

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