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S Corporations: Key Issues, Compliance, and Tax Strategies

Author/Moderator: Gregory McKeen, CPA
Publisher: AICPA
Availability: In Stock
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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.

Prerequisite: None

Advanced Preparation: None

NASBA Field of Study: Taxes
Level: Basic
Recommended CPE Credit: 8
S Corporations: Key Issues, Compliance, and Tax Strategies
Text , 2014
Product# 736161
Availability: In Stock
Regular:$193.75
AICPA Member:$155.00
Your Price:$193.75
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