​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Arizona Chapter Education

Location:

Phins Lounge, lobby of the Dolphin Hotel
Swan & Dolphin Resort
1500 Epcot Resorts Blvd
Orlando, FL 32830

Takin' Care of Business - The S Corporation

This event will offer the following education:

• Takin' Care of Business - The S Corporation:
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  The choice to operate one's business as an S-corporation should not be taken lightly. There are advantages and disadvantages to operating as an S-corporation as well as several requirements to even qualify for the S election in the first place. We will examine the S-corporation in depth. We will discuss the formation of the entity and the requirements that must be met to qualify for an S election, including the timing of the election and late election relief. We will then discuss reporting of the day-to-day operations of the company and the correct completion of Form 1120-S, with hands-on examples. We will tackle subjects such as reasonable compensation, separately stated items, reporting company losses, and tracking shareholder basis in the entity. Finally, we will discuss the termination of the S-corporation, including method of the sale of the entity and the tax effects of each method, determining and reporting the liquidating distribution, and completion of the final Form 1120S. Presented by Jaye Tritz, EA, CFP.

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Date & Time:

August 15, 2024

Attendee Check-In: 7:30 a.m. Arizona Time
Education: 8:00 a.m. - 5:00 p.m. Arizona Time

Location:

DoubleTree by Hilton Phoenix Mesa Conference Area
1011 West Holmes Avenue
Mesa, AZ 85210
480-833-5555

Fees:

Early pricing ends August 1, 2024.
Registration includes lunch and electronic materials. Materials will be emailed to registrants 24 hours before the event.
Print materials are available for a $35 fee and include both "Takin' Care of Business - The S Corporation" & "Gettin' Down to Business - on the 1040."

Cancellation Policy:

Cancellations must be submitted to NATP by August 8, 2024 and are subject to a $50 fee..

All tax preparers are responsible to verify the number of credits they receive each year and the related state or federal reporting requirements to maintain their credentials.

Gettin' Down to Business - on the 1040

This event will offer the following education:

• Schedule C: It's not just a Small Business Anymore:
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  This session on Schedule C from beginning to end will cover who can and should file and what expenses are allowed. General depreciation and section 179 will be discussed as well as whether a home office deduction is feasible. This course will also cover what do you do when the business sells. While this course is designed to be self-contained, comparisons to S-Corporations (discussed in a separate seminar the previous day) will be presented. Presented by Lin Leclair, EA & Katherine Gudgel, EA, PhD.
• Basics of Basis:
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  Basis is a fundamental component which affects the: amount of depreciation, calculation of gain or loss, and determination of the basis of any property acquired as part of a transaction. This course will review and illustrate how basis is determined for various methods of asset acquisition. Holding periods and loss disallowance provisions will be addressed, as well as the conversion of personal property to business or income-producing Use. Presented by Sara J Leone, CPA and Lin Leclair, EA.
• The S Corporation Schedule K-1:
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  As a shareholder in a pass-through entity like an S-corporation, the taxpayer receives a Schedule K-1 annually from the entity for reporting on their personal Form 1040. Often this form requires reporting of various amounts in various locations on the shareholder's personal return. Indeed, the Schedule K-1 can be an enigma for the tax preparer. In this 2 CPE session, we will break down the Schedule K-1 (1120-S) and discuss the items as they should be reported on the Form 1040. We will also highlight the calculation of shareholder basis and reporting ordinary business losses shown on a Schedule K-1. Presented by Jaye Tritz, EA, CFP.

Register Now!

Date & Time:

August 16, 2024

Attendee Check-In: 7:30 a.m. Arizona Time
Education: 8:00 a.m. - 5:00 p.m. Arizona Time

Location:

DoubleTree by Hilton Phoenix Mesa Conference Area
1011 West Holmes Avenue
Mesa, AZ 85210
855-605-0318

Fees:

Early pricing ends August 2, 2024.
Registration includes lunch and electronic materials. Materials will be emailed to registrants 2 days before the event.
Print materials are available for a $35 fee and include both "Takin' Care of Business - The S Corporation" & "Gettin' Down to Business - on the 1040."

Cancellation Policy:

Cancellations must be submitted to NATP by August 9, 2024 and are subject to a $50 fee..

All tax preparers are responsible to verify the number of credits they receive each year and the related state or federal reporting requirements to maintain their credentials.

From a Hobby to a Family with Dreams of Expansion! (in Spanish)

This event is being held simultaneously and is co-located with the Gettin' Down to Business - on the 1040 seminar and will offer the following education in Spanish:

• Schedule C: Hobby turned into Business in Spanish:
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  With the Share economy, many tax preparers must deal with taxpayers with activities that are not considered a trade or business. Participants will be provided information needed to assess the difference between a Hobby and a Business. This course will focus on how to classify the income and allowable expenses during the preparation of the Schedule C. We will review how a business can offer services and sales at the same time and will touch on the basics of Qualified Joint Venture regulations. We will also cover use of business vehicles, record keeping of these expenses, depreciation of certain assets, section 179, safe harbor regulations, and the use of home for business. Objectives: Determine if the taxpayer's activity is business or hobby. Identify the income/expenses reported on the Schedule C. Learn about Qualified Joint Ventures. Requirements for business use of a vehicle. Recognize assets that need to be depreciated. Understand the regulations for business use of home. Presented by Liliana Davalos, AFSP, CAA.
• Form 1065: Partnership Tax Returns in Spanish:
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  This course will provide the participants with a basic overview of Form 1065: US Return of Partnership Income. The seminar, presentation, and handouts will all be predominantly in Spanish. Objectives: Understand what a Partnership is and when Form 1065 is required. Learn how to file a basic Partnership tax return, including discussion of: income, cost of goods sold and expenses. Discuss the basics of recourse and non-recourse debt/loans. Review the K-1. Discuss the basics of the partner's capital account. Understand the difference between a general partner and a limited partner. Obtain a basic understanding of guaranteed payments. Presented by Regina Duran, EA, CAA.

Register Now!

Date & Time:

August 16, 2024

Attendee Check-In: 7:30 a.m. Arizona Time
Education: 8:00 a.m. - 5:00 p.m. Arizona Time

Location:

DoubleTree by Hilton Phoenix Mesa Conference Area
1011 West Holmes Avenue
Mesa, AZ 85210
855-605-0318

Fees:

Early pricing ends August 2, 2024.
Registration includes lunch and electronic materials. Materials will be emailed to registrants 2 days before the event.
Print materials are available for a $35 fee and will also include materials from the "Takin' Care of​ Business- The S Corporation" and "From a Hobby to a Family with Dreams of Expansion".​

Cancellation Policy:

Cancellations must be submitted to NATP by August 9, 2024 and are subject to a $50 fee.

All tax preparers are responsible to verify the number of credits they receive each year and the related state or federal reporting requirements to maintain their credentials.