S Corporations: Key Issues, Compliance, and Tax Strategies - Tax Staff Essentials
Tuesday, November 19, 2024
Webcast or Webinar, Online
9:00 AM - 5:00 PM (opens at 8:30 AM) EST
8Credits
Technical Business
Registration is Open
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$332.00 Regular Price
Non-Members
$403.00 Regular Price
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Course Type: Webcast
Course Code: 24/AI514324
Level: Basic
Vendor: AICPA CPE Division
Field of Study: Taxes
Overview:
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.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.