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S Corporations: Key Issues, Compliance, and Tax Strategies

Author/Moderator: Gregory McKeen, CPA
Publisher: AICPA
Availability: Varies by Format (See Below)
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In this CPE course, get the knowledge you need to speak effectively to new and current clients about how you can make the S Corporation business model work for them. Be prepared to explain the benefits and drawbacks of electing S Corporation status and why more business taxpayers favor the pass-through entity over the C Corporation. Discuss the most misunderstood areas of S Corporations taxation and how businesses and shareholders can use them to their advantage.

Topics Discussed:

  • S Corporation qualifications
  • Election of S Corporation status
  • Termination or revocation of S Corporation status
  • Pass-through of income and loss items to the shareholder
  • Distributions to S Corporation shareholders
  • Reporting and filing requirements
  • Choice of year-end
  • Shareholder basis

Learning Objectives:
When you complete this course, you will be able to:

  • Determine the advantages of electing S Corporation status.
  • Identify the requirements to qualify for an S Election.
  • Recognize individuals and entities that are eligible to own S Corporation stock.
  • Determine how to make a proper S Corporation election.
  • Determine income or loss that passes through to the shareholder.
  • Define and explain the complex rules of distributions.
  • Recognize active and passive income and determine material participation.
  • Describe the Section 179 deduction.

Who Will Benefit?
Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations

Prerequisite: None

Advanced Preparation: None

NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: Text - 8; On-Demand - 6
S Corporations: Key Issues, Compliance, and Tax Strategies
Text , 2015
Product# 736162
Availability: Backordered
AICPA Member:$149.00
Your Price:$189.00
S Corporations: Key Issues, Compliance, and Tax Strategies
CPE On-Demand , 2015
Product# 163421
Availability: Online Access 1 Year
For registered users only
AICPA Member:$99.00
Your Price:$129.00
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