First, the basics.
What entities file a Form 1065
Is the liability limited or unlimited
How to choose between quick and thorough
Where to look to get a snapshot of the business
Recommended Prerequisites
- Green Legos, Six Ns and a Map
- Types of Business Entities
- Cash vs Accrual Basis
- Debt, Debt Ratios and Debt Shortcuts
- Depreciation
A playful way to learn
How to approach any tax return
Find what you need
Make sure you have all of the relevant forms
Keep track as you go
Go to Green Legos ModuleCovering Seven Types of Entities
Advantages and disadvantages of each
Forms filed and which of them have choices
Risk exposure of owners and how that mitigates lender risk
How owners get paid (you might be surprised)An accounting difference that makes a difference
What is the difference between cash and accrual basis?
How does it impact your impression of the business?
Where do you look to see which they are using?
Which is best for the business?The key to the loan decision
Where to get debt information
How to calculate debt ratios
Which debt ratios to use
When to use shortcuts and when they won’t workMore than just an add-back.
Definition and methods
Treatment on financial statements and tax returns
Impact on gain/loss on disposal of assets
Form 4562 clues to understand the business
What lenders are saying
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