S Corporations: Key Issues, Compliance, and Tax Strategies - Tax Staff Essentials

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.

Learning 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.

Who will benefit:

· Public accounting firm staff and senior associates

· CPAs

· S corporation tax filers

THIS IS AN AICPA HOSTED WEBCAST. YOU WILL LAUNCH THE COURSE FROM YOUR OSCPA LEARNING PORTAL. AICPA WILL ISSUE AND MAINTAIN YOUR CREDITS. PLEASE MAKE SURE TO DOWNLOAD YOUR CPE CERTIFICATE FROM AICPA WEBCAST PORTAL AT THE CONCLUSION OF THE WEBCAST.