24WA-8599: Form 1120S: Preparation and Analysis (Webinar)

Wednesday, December 4, 2024
2:00pm - 3:50pm Central Time
2 CPE (2 technical)

This course provides an in-depth exploration of Form 1120S, the tax return form used by S corporations. Students will learn the intricacies of preparing and analyzing this form, including how to determine the taxable income of the S corporation, how to properly report and allocate income, deductions, and credits, and how to calculate the shareholder's basis in the S corporation.

• Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Major subjects

• Understanding the definition and requirements of an S corporation, the benefits and limitations of choosing this entity type, and the eligibility requirements for shareholders
• Income and Deductions: Understanding the different types of income and deductions that an S corporation can have, including ordinary income, capital gains and losses, depreciation, and expenses.
• Shareholder Basis: Understanding the shareholder's basis in the S corporation, how to calculate it, and the impact of distributions on the basis.
• Reporting Requirements: Understanding the different reporting requirements for Form 1120S, including Schedule K-1, Schedule L, Schedule M-2, and Schedule M-3
• Tax Planning: Understanding the tax planning strategies available to S Corporations and their shareholders, including tax deferral, income shifting, and tax-free reorganizations

Learning objective(s)

• Discuss Form 1120S and the skills necessary to prepare the form for S corporations
• Prepare for 1120S

Who should take this program?

CPAs, EAs, attorneys, bankers, and financial planners

Fees

Standard Member Fee	$79.00
Standard Nonmember Fee	$79.00

Related programs

Oct. 16, 2024 | S Corporations: Key Issues, Compliance and Tax Strategies: Tax Staff Essentials | Webinar

Oct. 17, 2024 | Reviewing S Corporation Tax Returns: What Are You Missing? | Webinar

Oct. 24, 2024 | Comprehensive S Corporation Taxation Form 1120S | Webinar

Nov. 12, 2024 | Reviewing S Corporation Tax Returns: What Are You Missing? | Webinar

Nov. 14, 2024 | Comprehensive S Corporation Taxation Form 1120S | Webinar

Related products

Surgent's Form 1120-S Boot Camp: Step-by-Step Preparation With Completed Forms | Self-Study (Downloadable PDF)