Seminars - Business Income Tax Returns

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Business Income Tax Returns

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greater of $300 per participant per day or fixed daily fee

Overview

This one-day seminar is for both relatively new analysts and lenders as well as for experienced analysts and lenders who need to refresh their understanding of the purpose, information content, and use of business income tax returns for all business organizations – Subchapter C corporations, Subchapter S corporations, partnerships, limited liability companies, and sole proprietorships – along with accrual financial statements, in assessing borrower risk.

6 CEUs

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Seminar Objectives

	Review and examine the sole purpose of business income tax returns for Subchapter C corporations, Subchapter S corporations, partnerships, limited liability companies, and sole proprietorships and how that purpose may differ by business organization;
	Review and explore the differences in allowable revenue and expenses recorded on a) business income tax returns and on b) financial statements determined by the respective guidelines and regulations that condition their preparation;
	Review the information content in Schedule K, the relationship between Schedule K and Schedules K-1, and the use of Schedule K-1 information in preparing personal income tax returns;
	Explore the purpose and information content of Schedules M-1 and M-2 and examine the process for reconciling taxable income with reported income on the accrual financial statements;
	Examine revenue and expense amounts on business income tax returns – including Schedule K-1 – and explore the flow of revenue and expense amounts to the personal income tax returns of business owners for Subchapter S corporations, partnerships, limited liability companies, and sole proprietorships; and
	Determine the most pragmatic use of business income tax return and financial statement information in assessing borrower risk.

Seminar Materials

	Credit Refresher on Business Income Tax Returns
	Information Access, Inc. Financial Statements
	Excerpts from Information Access, Inc. Business Income Tax Returns
	Personal Income Tax Returns for Peter Keys
	Sierra Products, Inc. Financial Statements
	Excerpts from Sierra Products, Inc. Business Income Tax Returns
	Personal Income Tax Returns for Joseph Robie
	Exercises
	Solutions
	Optional Online Proficiency Exam

Upon Completion

Participants who closely follow the instructor’s presentation and carefully review the written solutions will be able to:

	Understand the sole purpose of business income tax returns for Subchapter C corporations, Subchapter S corporations, partnerships, limited liability companies, and sole proprietorships and how that purpose may differ by business organization;
	Understand the possible differences in allowable revenue and expenses recorded on a) business income tax returns and on b) financial statements determined by the respective guidelines and regulations that condition their preparation;
	Understand the information content in Schedule K, the relationship between Schedule K and Schedules K-1, and the use of Schedule K-1 information in preparing personal income tax returns;
	Understand the information content in Schedules M-1 and M-2 and the adjustment process necessary to reconcile taxable income with reported accrual income;
	Understand those revenue and expense amounts on business income tax returns that flow to personal income tax returns – or to owners personally – and understand which revenue and expense amounts are cash or non-cash to the owner; and
	Understand the necessity of acquiring business accrual financial statements and the most pragmatic use of combining business income tax return and financial statement information in assessing borrower risk.

Seminars
	Analytical Failure Zones
	Business Cash Flow
	Business Income Tax Returns
	Credit Basics
	Getting Business
	Global Cash Flow
	Guarantor Analysis
	Income Producing Properties
	Key Credit Analysis Tools and Techniques
	Management Assessment and the Credit Decision

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