Everything S-Corp! FLEXCAST

Overview

This course covers many current S-Corp issues related to tax, compliance, QBI, shareholder reimbursement plans, reasonable comp, basis, and more. Plus, conversion from C Corp to S Corp, asset transfers, changes in shareholder %, closing an S Corp, etc.

Highlights

S Corp General Taxation. Preparing form 2553. Fixing S-Elections. Stock Basis Ordering Rules. S Corporation Health Insurance.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents and attorneys.

Objectives

Become familiar with many tax planning, tax compliance, and tax savings aspects of S corps. Develop comprehensive plans and processes for managing clients’ S Corp compliance matters. Recognize expense and deduction issues unique to S Corp’s and how to maximize the tax savings. Identify, advise, and correctly report changes to S Corp shareholder ownership, changes from another business entity converting to an S Corp, and selling or closing an S Corp. Demonstrate how the business side of S Corps pass through and impact the taxes, loss limitations, and basis considerations of shareholders.

Preparation

None.

Notice

This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.