Description	This course is designed to deepen the participants' tax knowledge about S corporations and partnerships so that they can evaluate the financial and credit implications of these vehicles.
Primary Topics	Investor Motivation Behind the Choice of S Corporations and Partnerships The Pass-through Concepts S Corporation Tax Accounting, Identifying the Cash Flow I Information, Evaluating the Adequacy of Distributions, S Corporation Capital Accounts and Basis Partnership Agreements Understanding Partnership Basis, Distributions and Contributions, Capital Accounts Interpreting the K-1 Identifying Information Needs Interest Expense (emphasizing investment interest and the tracing rules) Passive Losses Tax Planning
Learning Objectives	This course enables the participant to understand the cash interactions between the client and pass-through vehicles, anticipate future tax liabilities, organize the information from a complicated tax return so that a meaningful conclusion can be reached, and use the tax return analysis to identify information that should be pursued with the client or his advisor.
Target Audience	Private bankers. Commercial lenders who must evaluate financial strength of guarantors of commercial loans. Commercial real estate lenders who must evaluate the personal financial strength of a general partner or individual who has guaranteed a loan. Workout specialists who may want to understand the financial condition of troubled borrowers.
Eligibility	Basic understanding of personal cash-flow analysis.
Delivery	Combination of lecture, case study, games and group presentations.
Length	Two and a half days; two day version excludes interest tracing, passive rules and tax planning.