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S Corporation Preparation, Basis Calculations and Distributions: Schedule K and K1 (4151622B)
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"This comprehensive course is designed to get you up to speed quickly with S corporation formation and preparation issues as well as a complete understanding of calculating a shareholder's stock and debt basis. The cornerstone of this course is the in-depth, line-by-line analysis of the Schedule K and K-1 (Form 1120S) and how these items affect the shareholder's individual income tax return. "

11/18/2015
When: 11/18/2015
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 is designed to get you up to speed quickly with S corporation formation and preparation issues as well as a complete understanding of calculating a shareholder's stock and debt basis. The cornerstone of this course is the in-depth, line-by-line analysis of the Schedule K and K-1 (Form 1120S) and how these items affect the shareholder's individual income tax return.
 

Objectives:




    Identify how to form an S corporation.
    Recall how to prepare Form 1120S Schedule K & K1.
    Outline the process of reporting distributions and calculating the Schedule M-2.
    Calculate a stockholder's stock and debt basis.
    Recognize how losses an deductions may be limited on the Form 1040 due to the basis, at-risk  and passive activity.

   


        
   

Major Subjects:



ยท       Analysis of the Schedule K-1 line-by-line and discuss where the items get reported on Federal individual income tax return and how they affect the basis calculations



              

Designed For: CPAs and tax professionals that need an in-depth training course on tax preparation issues, basis calculations and distributions rules for S corporations and their shareholders.
 

Prerequisite:  General knowledge in individual and S corporation income taxes.

Advanced Prep:  None

Speaker: Mark Vanden Berge

Vendor: CalCPA

Field of Study:     Taxes

Level:  Intermediate

CPE Credit: 8 Hours

Acronym:  SBAD

 

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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