Course ID: FSC

Fundamentals of S Corporations

Learn the advantages and disadvantages of being an S corporation, the eligibility rules and election requirements, operational and reporting rules, and the tax effect of distributions. Participants will gain an understanding of the opportunities provided by S corporations but also the pitfalls to avoid.

In-person and live webcast CPE credit: up to 8.0


Learning Objectives

After completing this course, you will be able to:

  • Indicate if a corporation is eligible to elect to be taxed as an S corporation.
  • Recall the rules for electing S corporation status and terminating S corporation status.
  • Estimate S corporation income and its flow-through to the shareholders.
  • Estimate a shareholder’s basis in their stock and the limitations on the deductibility of flow-through losses.
  • Recognize the tax effects of S corporation distributions to the shareholder and the corporation.

Major Topics
  • Eligibility rules and shareholder requirements
  • Election requirements and terminations
  • Taxation of S corporation income
  • Shareholder basis
  • Distributions (basic)

Who Should Attend

This course is designed for entry level tax practitioners and any tax practitioner who works with S corporate taxation.


Fields of Study
Taxes

Prerequisites

None


CPE Credits
8.0

Level
Basic

This course is available for your group as:

 

Let's Roll!

To learn more or customize this course for your group, complete this form and a BLI team member will get back with you shortly.


Or, contact BLI: or team@blionline.org
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