S Corporation Fundamentals
Thursday, August 15, 2019 – Thursday, April 30, 2020
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 self-study course 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.
? 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 how to make a proper S corporation election.
? Determine income or loss that passes through to the shareholder.
? Define and explain the concept of distributions.
? Recognize active and passive income and determine material participation as it relates to an individual S corporation shareholder.
S Corporation Qualifications
Electing S Corporation status
Termination of S Corporation Status
S Corporation Tax on Built-in Gains
S Corporation Pass-Through to Shareholders, Basis and Losses
S Corporation Distributions
Taxable Year of S Corporations
S Corporation Passive Activity Rules, Fringe Benefits, and Other Considerations