Description
EAs and Other Tax Preparers, after passing the exam you MUST click on the link “GET YOUR CERTIFICATE” to have your hours reported to the IRS.
In this course, the intricacies of setting up and terminating an S corporation are detailed and taxation is discussed. The numerous advantages and disadvantages of this entity are identified to help practitioners determine whether the S corporation is most suitable for their clients. Eligible domestic corporations can avoid double taxation by electing to be treated as an S corporation under the rules of Subchapter S. Subchapter S provides an optional method of corporate taxation and allows small business corporations to elect unusual tax treatment. The S corporation is taxed like a partnership, but in other respects, S corporations are taxed like C corporations.
Learning Objectives
Upon completion of this course, you will be able to:
1. Recognize S corporation tax advantages and disadvantages, cite the requirements for an S corporation election, identify eligible S corporation shareholders, specifying the one-class-of-stock regulations, and determining the ways an S corporation election can be terminated.
2. Identify the concepts of S corporation taxation by:
a. Recognizing separately stated pass-through items, the application of passive income taxation, §1374 built-in gains, net operating losses, potential estimated taxes, and §465 at-risk provision, and
b. Specifying the related party rules, including their impact on deductions, available fringe benefits, and Form 1120S filing requirements.
To complete this course participants need to: Read the material provided and answer chapter review questions, successfully complete the qualified assessment with a minimum of 70% accuracy to receive your certificate. Clicking on the Certificate link will show the course as 100% Complete
A course evaluation form is provided for your feedback and participants have 1 year from the date of purchase/enrollment to complete this course. .
Our Refund policy can be found at: https://cpeprime.com/cancellation-and-refund/
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