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Partnership Preparation, Basis Calculations and Distributions: Form 1065 Schedule K & K1 (4151613B)
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"This comprehensive course will get you up to speed with partnership and LLC formation and preparation issues, as well as provide a thorough understanding of calculating a partner and LLC member's basis. We'll take a line-by-line analysis of Form 1065 Schedule K and K-1 and how these items affect the partner/member's individual income tax return. "

11/19/2015
When: 11/19/2015
9:30 AM - 5:00 PM
Where: Webcast/Webinar
Presenter: Mark Vanden Berge
Contact: April Deneault
801-834-6634


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This comprehensive course will get you up to speed with partnership and LLC formation and preparation issues, as well as provide a thorough understanding of calculating a partner and LLC member's basis.  We'll take a line-by-line analysis of Form 1065 Schedule K and K-1 and how these items affect the partner/member's individual income tax return.
 

Objectives:



Upon completion of this course, participants will be able to identify how to:

    form a partnership and LLC;
    completing Form 1065 Schedule K &; K-1;
    report cash and non-cash distributions;
    calculate a partner and member outside tax basis;
    determine losses and deductions that may be limited on Form 1040 due to the basis, at-risk and passive activity loss rules; and
    Schedule K-1 issues, including where items get reported on the individual federal tax return, what tax rates are applicable to the partner and how the items affect their basis calculations.


 

      
   

Major Subjects:



·       Emphasis on any new legislative changes affecting basis calculations and the at-risk rules
 
           

Designed For:

CPAs and tax professionals who need a training course on tax preparation issues, basis calculations and distributions rules for partnerships, LLCs and their owners.

Prerequisite:   General knowledge in individual and partnership income taxes.

Advanced Prep:  None

Speaker: Mark Vanden Berge

Vendor: CalCPA

Field of Study: Taxes

Level:  Intermediate

CPE Credit: 8 Hours

Acronym:  PBAD

 

Registration Fees:

Members: $275

Nonmembers: $375

 

Meet the Speaker:

Mark Vanden Berge has over 30 years of experience in the field of public accounting. After graduating from Northwestern College, he accepted a staff position with a local CPA firm where he was exposed to all areas of public accounting. Four years later, he accepted a position with a regional CPA firm in its tax division. Within two years, he was in charge of the tax division and primarily responsible for over 500 tax clients. After three years, he established his own firm, Vanden Berge, Inc., in Sioux Falls, South Dakota, and still operates that firm as CEO and president. The firm assists its clients in all areas of taxation, business planning, and financial consulting.
Vanden Berge is also CEO and president of VBI Company, Inc., an independent commodity brokerage firm also located in Sioux Falls. VBI has seven branch offices in the Midwest. In addition to offering the typical retail brokerage services, VBI is active in the managed futures industry. Vanden Berge has passed the Series 7 Securities exam as well as holding the Series 3 license. He was involved in taking a telephone company public and an IPO roll-up with several other companies in 2000. Additionally, he has had ownership interests in trucking and freight companies, retail sales businesses, and software companies. This broad background has provided Vanden Berge with a wide range of experiences in the areas of taxation, business, and finance.

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