CPE Online Course Detail


S Corporations

Price :   $27.95
CPE Credits :   3.0
Course Code :   T012-0165
Category :   Taxation
  

Description:
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.


Delivery Method: Online Self-Study


Level: Overview


Prerequisites: None


Advanced Preparation: None


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Author: Danny Santucci


Category: Taxation


Field of Study: Taxes


Passing Score: 70%


Publication Date: 01/15/2016


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Objectives:
1. Recognize a client's potential use of the S corporation format and its tax advantages and disadvantages, naming the requirements for an S corporation election, identifying 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 the application of passive income taxation, accumulated adjustments accounts, built-in gains, net operating losses, tax preference items, and potential capital gains taxes,
b. Determining a shareholder's stock basis from capitalization and loan activity,
c. Specifying the related party rules including their impact on deductions, available fringe benefits, and tax forms to use when filing as an S corporation.


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NASBA: Yes


QAS: Yes


CPA: Suitable for all CPAs


IRS: Enrolled Agents Program Number 263UK-T-00140-14-S




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