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21WI-0715: S Corporations: Key Issues, Compliance and Tax Strategies (Webinar)

Date Tuesday, January 11, 2022
Time 9:30am - 5:30pm
Central Time
Location Online
CPE credits CPE 8.0
Field(s)
of study
Taxes - Technical (8.0)
Instructor Deborah Phillips, CPA, MST
Surgent
Fees
Standard Member Fee $279.00
Standard Nonmember Fee $339.00
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Description

New or existing clients and business need assistance with the most misunderstood areas of S Corporations taxation and how they can use them to their advantage. 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. This webcast will give you the knowledge you need to speak effectively to potential business clients and existing shareholders about how you can make the S Corporation business model work for them.

Who should take this program?

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

Major subjects

  • 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 objective(s)

  • Recall 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
  • Recall how to make a proper S Corporation election
  • Recall how income or loss passes through the S Corporation to the shareholders
  • Recognize the complex rules of distributions
  • Recognize active and passive income and determine material participation
  • Recall key points related to the Section 179 deduction

Notes:

Course code Code 21WI-0715
Sponsor AICPA
NASBA ID#: 112891
Level Basic
Format Group Internet Based
Prerequisites Prereq. none
Advance
prep
None
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