S Corporation Income Tax - Form 1120S

🌟 Course Title: Master S Corporation Income Tax - Form 1120S with Expert CPA Robert (Bob) Steele

🚀 Course Headline: Dive Deep into S Corp Tax Returns with a Step-by-Step Guide on Form 1120S!

📘 Course Description:

Are you ready to master the intricacies of tax returns for S Corporations? Join Robert (Bob) Steele, an experienced CPA, in this comprehensive course designed to walk you through the process of accurately and efficiently completing Form 1120S. This course is not just about filling out forms; it's about understanding the data flow, learning how to identify and correct errors along the way, and gaining a profound grasp of S Corporation taxation.

What You Will Learn:

• Systematic Data Entry: A systematic format for entering data into Form 1120S that minimizes errors and simplifies problem-solving.
• M-1 Adjustments: We will delve into each M-1 adjustment, understanding its impact on both the tax return and an accompanying Excel worksheet.
• Hands-On Practice: By starting with a comprehensive problem, you'll apply your knowledge in real-time, ensuring a deep understanding of the data input process.
• Organized Information: Utilize an Excel worksheet to organize financial information, making the data entry process more manageable and less prone to errors.
• Software Proficiency: We will use Lacerte Tax software for data entry, complemented by PDF files of tax forms for a hands-on learning experience. Remember, these forms are also available on the IRS website.
• Staged Data Input: Learn to enter data into Form 1120S in stages to reduce potential mistakes and to identify and fix errors as they occur.
• Financial Statements Analysis: We begin with the balance sheet and progress through the income statement, ensuring you understand the flow of financial information.
• Schedule K & M-1 Adjustments: Isolate and meticulously review Schedule K and M-1 adjustments within the tax forms, software, and Excel worksheet.
• Tax Form Review: A thorough examination of the completed tax forms to ensure accuracy and completeness.
• K-1s & Basic Calculations: We will walk through the review of Form K-1s and basic calculations, ensuring you understand these crucial components of an S Corporation's tax return.
• Exporting K-1 Data: Demonstrate the exporting process of the K-1 form to individual Form 1040 for S corporation owners.

Why Choose This Course?

This course is meticulously crafted to provide you with a thorough understanding of the tax reporting process for S Corporations. With hands-on practice, real-world examples, and step-by-step guidance from a seasoned CPA, you'll be well-equipped to tackle any S Corporation tax return that comes your way. Whether you're an aspiring accountant, a current professional looking to expand your knowledge, or someone who simply wants to understand the ins and outs of S Corporations for personal reasons, this course offers the depth and clarity necessary for success.

📆 Enroll Now to secure your spot in this transformative learning experience and take the first step towards becoming an S Corporation tax return pro! 🎓