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S Corporations: Key Issues, Compliance, and Tax Strategies

  • 07/01/2021
  • 9:30 AM - 5:30 PM


Registration is closed
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 webcast 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.

Topics Discussed:

  • S Corporation qualifications 
  • Election of S Corporation status 
  • Termination or revocation of S Corporation status 
  • Pass-through of income and loss items to the shareholder 
  • Distributions to S Corporation shareholders 
  • Reporting and filing requirements 
  • Choice of year-end 
  • Shareholder basis

Designed For: Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations

Learning Objective:

  • Recall the advantages of electing S Corporation status 
  • Identify the requirements to qualify for an S Election 
  • Recognize individuals and entities that are eligible to own S Corporation stock 
  • Recall how to make a proper S Corporation election 
  • Recall how income or loss passes through the S Corporation to the shareholders 
  • Recognize the complex rules of distributions 
  • Recognize active and passive income and determine material participation 
  • Recall key points related to the Section 179 deduction

Level: Basic

Instructor: Deborah Phillips

Developer: AICPA

CPE Credits: 8

Area of Study: Taxes

Prerequisite: None

Visit Us:

3100 South Columbia Road
Suite 500
Grand Forks, ND 58201

Contact Us: 

 (701) 775-7111
or (877) 637-2727

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