The course is designed to assist experienced staff in taking the next step by taking a deeper analysis into critical issues affecting present S corporation clients.
DESIGNED FOR
Experienced CPAs who desire a comprehensive S corporation course that will enable them to understand reasonably complex S corporation problems and issues; also, CPAs who want a comprehensive, intermediate-level S corporation practice manual.
BENEFITS
- Prepare more complicated S corporation returns
- Understand certain advanced concepts of S corporation taxation
- Protect S corporation clients from falling out of S corporation eligibility
HIGHLIGHTS
- Recent tax acts and any new legislation enacted before presentation
- Current private letter rulings
- How to avoid those terminating errors
- The $100/day penalty and transitional relief
- Affordable Care Act reporting issues and Shared Responsibility
- S Corporations and self-employment tax
- Detailed review of basis calculation rules, deducting losses, stock vs. loan and “at-risk” basis
- Final regulations regarding open debt and the handling and repayment of shareholder loans
- Taxable distribution in excess of basis and reporting issues to shareholders
- How §179 limitations affect S corporation basis
- Liquidation of the S corporation
- Flexible standard of law
COURSE LEVEL
Intermediate
PREREQUISITES
Basic knowledge of S corporation taxation.
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- This seminar qualifies for IRS credit.
Help Feed Those in Need- The NJCPA Emerging Leaders Council is hosting a Food Drive to benefit the Community FoodBank of New Jersey. Please bring your nonperishable items and canned goods to this event. Peanut butter and tuna fish are always needed.