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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.
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
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