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CPE Self-Study
S Corporation Fundamentals - Tax Staff Essentials
NASBA FIELD OF STUDY
Taxes
LEVEL
Basic
CPE CREDITS
Online: 11.0
Get the knowledge you need to speak effectively about how the S Corporation business model can work for clients.

CPE On-Demand
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  • Windows 7 to present

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Product details

Key Topics

  • Advantages and disadvantages of S corporations
  • S corporation qualifications
  • Electing and terminating S corporation status
  • S corporation tax on built-in gains
  • S corporation pass-through to shareholders, basis and losses
  • S corporation distributions and taxable year
  • S corporation passive activity rules, fringe benefits and other considerations

Learning Objectives

  • Determine whether an S corporation may be advantageous—or disadvantageous—for a business.
  • Understand qualification requirements for an S corporation.
  • Recognize individuals and entities eligible to own S corporation stock.
  • Determine how to make a proper S corporation election, permitted fiscal years, elections, and user fees.
  • Determine what level of taxation an S corp is subject to.
  • Calculate the tax on built-in gains.
  • Identify the items of income, gain, loss, and deduction that adjust basis of shares and indebtedness.
  • Recognize active and passive income and determine material participation.
  • Identify which fringe benefits are deductible by the shareholders.

Who Will Benefit?

  • Public accounting staff and senior associates
  • Tax professionals

Speak knowledgably about S corporation status

Do you need to know all about S corporations to appropriately counsel your clients' businesses? This course will help you understand how the S corporation business model works, including requirements, benefits and drawbacks. Covering the PATH Act and other recent legislation affecting S corporations, this CPE course is a comprehensive introduction to the nature of the S corp and how it's treated for income tax purposes. You'll examine some of the advantages and disadvantages of incorporation, go through the requirements for election to become an S corp and learn why more business taxpayers favor the pass-through entity over the C corporation.
Save when you buy the complete Tax Staff Essentials, Level 1 online bundle.
Table of Contents
Author

Gregory B. McKeen, CPA

Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.

Price:
$249.00
Member Quantity:
Non-Member Quantity:
Quantity:
Estimated total:
$249.00
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CREDIT INFO
CPE credits
Online: 11.0
NASBA Field of Study
Taxes
Level
Basic
Prerequisites
None
ADVANCE PREPARATION
None
Delivery Method
QAS Self-Study
Course acronym
TSE.SCF
Group Pricing
Product number: GT-TSE.SCF
Contact a representative for group pricing or on-site training opportunities. 800.634.6780 (Option 1) | Contact Us
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