Chapter 1: About Partnerships – Theory
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History and importance of Partnership
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Differences between C-Corps, S-Corps, and LLCs
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Advantages and disadvantages of Partnership
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Forms and schedules for Form 1065 (Page 1, Schedules B, K, L, M-1, M-2)
Chapter 2: Lacerte Tax Software Overview & Simple Tax Return Example
Chapter 3: Practice – Comprehensive Problem
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Entering data from worksheets, prior year returns, and balances
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Schedule L, income statement, retained earnings reconciliation
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Adjustments: depreciation, M-1 entries, meals, officer compensation, capital gains, etc.
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Review, diagnostics, and e-filing
Chapter 4: Do-It-Yourself Comprehensive Problem
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Guided practice with answers and self-check video
Bonus Modules
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Foreign Essentials for Corporate Filings (1.5 hrs)
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Amending 1120 Returns Step-by-Step (2 hrs)