Webinar

S Corporations: Key Issues, Compliance and Tax Strategies: Tax Staff Essentials

If you have questions about this event, please call us at 952-831-2707.

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New or existing clients and businesses 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 business taxpayers may favor the pass-through entity over the C corporation. This course will give you the knowledge you need to speak effectively to potential business clients and existing shareholders about the S Corporation business model that may work for them.

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 objectives

• Determine when an S Corporation may be advantageous for a business
• Identify the potential disadvantages of operating as an S Corporation
• Identify the requirements that must be met to qualify as an S Corporation
• Recognize individuals and entities that are eligible to own S Corporation stock
• Determine when the S election becomes effective
• Identify causes of voluntary and involuntary termination
• Determine whether an S Corporation is subject to tax
• Determine income or loss that passes through to the shareholder
• Identify situations in which a fiscal year is allowable
• Recognize active and passive income
• Determine material participation

Who should take this program?

• Public accounting firm staff and senior associates, CPAs and S Corporation tax filers

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $403.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.