S Corporation Fundamentals: Attributes of Election and Taxation of S Corporations Under IRC
Subchapter S

Previously titled: S Corporation Fundamentals

This course is a comprehensive introduction to the nature of the S Corporation and how they are treated for income tax purposes.

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 Shareholder
• Distributions to S Corporation Shareholders
• Reporting and Filing Requirements
• Prior C Corporation Earnings and Profits
• Choice of Year-End
• Shareholder Basis

Learning Objectives:
Throughout this course, you will learn how to:

• Comply with federal and state S Corporation laws and regulations
• Apply special elections and tax treatments in S Corporations
• Select tax planning ideas to utilize in S Corporations
• Understand the complex rules of S Corporation distributions

Prerequisite: None

Advanced Preparation: None