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S Corporation Taxation: Comprehensive (Form 1120S) Webinar

CPE

When
Dec. 3
9:30 a.m. - 5:00 p.m.

CPE Credits
8-Tax

Details

 Pricing

PICPA Member: $245 | Nonmember: $345


 More Information

Course No.
4193578G
Level
Update
Prerequisites
General knowledge in individual and S corporation income taxation.

Description

  • Identify how to form an S corp and calculate its initial inside basis in the assets and shareholder's stock and debt basis.
  • Show how to prepare a basic S corp (Form 1120S) Schedule K and Schedule M-2, including the reporting of cash and non-cash distributions.
  • Determine how Schedule K items get allocated to the shareholders on their individual Schedule K-1.
  • Recognize three main reasons for calculating a shareholder's basis in a S corp.
  • Calculate a shareholder's stock and debt and determine if losses and deductions are limited on their individual income tax return.

Highlights

Get a comprehensive review of the laws and regulations impacting S corporations. Be prepared to handle the IRS' 2017 announcement that targets the improper reporting and calculations of stock basis.

Course topics cover issues surrounding reasonable compensation, distribution taxation, the use of Qualified Subchapter S Subsidiaries, allocation of annual operational income and loss and proper methods for calculating basis of stock and debt calculations. Learn how to properly prepare a Form 1120S by addressing difficult compliance issues and common errors.



Speaker(s)


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