DoubleTree by Hilton, 50 Kingsmill Road, Williamsburg, Hotel Tel: 757-220-2500
Discount rooms are available at the rate of $119/night through 9/17/2018. Make your reservations early to ensure that you're able to get into the room block. To book your room, call the hotel at 757-220-2500. Be sure to mention that you're part of the VA Society of Tax & Accounting Professionals to receive the group rate. Your reservation must be secured with a major credit card at the time of booking.
Seminar prices go up after October 3, 2018
. If you are not a VSTAP member, but want to get the member rate, you can join online
7:30 am - 8:00 am
- Registration/Continental Breakfast
8:00 am - 4:00 pm
2 - 4 Years of Tax Preparation
Your registration includes:Course Objective:
course manual; continental breakfast, morning/afternoon breaks, and lunch on both days; and networking social at the end of Day 1 (1 drink ticket for beer/wine/soda [cash bar after] and light hors d'oeuvres).
Upon the completion of this course, the student should be able to list the major tax changes affecting Federal Business tax returns (Forms 1120, 1120S & 1065) for the current year and should be able to prepare most business income tax return forms 1120, 1120S & 1065.
Course Description: The Most Practical Tax Class Ever?
The business in-depth class is the central reference point manual for preparing business tax returns. Similar to our 1040 class, this course begins with detailed discussions of business tax changes that have occurred during the year, whether from Congress, the IRS or the courts.
Also included are business formation issues such as tax-free organization and choice of entity decisions. This class then provides an in-depth look at the tax organization, filing and compliance issues for all 3 of the major forms of business entities.
- The discussion of S corporations includes elections, late “S” election, allowed shareholders, basis rules, distributions and accounting issues as well as the use of ESBT’s, QSST’s and the Q-Sub. The “S” discussion provides the forms, elections and statements needed to convert a sole proprietor to an S corporation or to convert an LLC to an s corporation, as well as the guidance needed to convert a C corporation. The rare 338 step-up election for S corporations is discussed in example form and we also provide the instructions and elections to make a deemed dividend election or to distribute E&P before AAA. We also discuss troublesome operating issues such as officer compensation, debt basis, suspended losses and non-cash distributions.
- The discussion of C corporations provides guidance on tax operating characteristics of the C corporation including accounting methods, choice of year-end, capital losses, net operating losses and a summary of consolidated return rules. The discussion of C corporate reasonable compensation also includes an analysis of constructive dividend problems and concludes with a review of such problem issues as personal holding companies (PHC), personal service companies (PSC) and the accumulated earnings tax (AET).
- The LLC/partnership discussion includes organizational income tax elections and definitions and then moves to a completed example Form 1065. We discuss converting an LLC to an S corporation and provide an example election. We then move to operating issues of an LLC such as guaranteed payments, tax-free formation, partner self-employment tax issues, basis, ownership transfers and the sale of a partnership interest. Several case studies illustrated, with tax forms, the effects of a “walk-away” partner as well as the 754 step-up basis election. An in-depth discussion of equity accounts is provided along with detailed analysis of debt basis.
VSTAP is an approved CE sponsor for the following:
Click here for further sponsor details.
* Please note: CFP CE reporting is not available for this course.
If you would like to pay with a check, please register online, print out your invoice, and mail it with payment to PO Box 3363, Warrenton, VA 20188
If you cancel in writing at least five business days before the program begins, you will be refunded your registration fee after a $50 administrative charge. Cancellations not received by the date required will not be eligible for a refund. If you cancel in writing at least 24 hours of the start of the program you may apply your registration fee to a future event for a $125 processing fee. No shows will not be refunded. Balances are due prior to the start of the event.