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 course 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.
Advantages vs. disadvantages of S Corporations , S Corporation Qualifications, Electing S Corporation status, Termination of S Corporation Status, S Corporation Tax on Built-in Gains, S Corporation Pass-Through to Shareholders, Basis and Losses, S Corporation Distributions, Taxable Year of S Corporations, S Corporation Passive Activity Rules, Fringe Benefits, and Other Considerations.
Identify the advantages and potential disadvantages of operating as an S corporation. -Recognize individuals and entities that are eligible to own S corporation stock. -Determine how to make a proper S corporation election. -Identify causes of voluntary and involuntary termination. -Recall methods of allocating income for the short years caused by a termination. -Calculate the tax on built-in gains. -Identify the items of income, gain, loss, and deduction that adjust basis of shares and indebtedness and the order of application of the items. -Determine how accumulated earnings and profits, accumulated adjustments account, other adjustments account, and the shareholder’s basis are affected by distributions. Recognize when a Section 444 election and resulting required payments should be made. Determine whether and to what extent passive losses can be deducted against other income. Identify which fringe benefits are deductible by the shareholders.
Non-Member Price $339.00
Member Price $279.00