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Wednesday, October 16, 2024 Live Webcast

S Corporations: Key Issues, Compliance, and Tax Strategies - Tax Staff Essentials (X3-4514874)

9:00 AM - 5:00 PM EDT
webcast

Vendor Platform

8 CPE Credits in TX

OVERVIEW

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.

DESIGNED FOR

public accounting firm staff and senior associates CPAs S corporation Tax filers

BENEFITS

  • 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.

HIGHLIGHTS

  • S corporation qualifications
  • Election of S corporation status
  • Termination or revocation of S corporation status
  • Pass-through of income and loss items to the shareholder
  • Distributions to S corporation shareholders
  • Reporting and filing requirements
  • Choice of year-end
  • Shareholder basis
  • COURSE LEVEL

    Basic

    PREREQUISITES

    None

    INSTRUCTOR

    Deborah Phillips

    Deborah A. Phillips, CPA, MST

    Surgent Professional Education

    Debbie operates her own tax controversy practice, specializing in partnership and S corporation tax law as well as IRS audits and procedures. She has been successful petitioning and resolving tax issues under the jurisdiction of the United States Tax Court. She is proficient in Section 199A provisions and computations as well as the Tax Cuts and Jobs Act. She prepares all types of tax returns and utilizes her forensic accounting skills for potential IRS criminal prosecution. Having spent more than 32 years at the IRS, Debbie retired from its Large Business and International Division, where she was a senior manager in the Flow-Through Issue Practice Group, which specialized in S corporation and partnership tax. She was the operations and technical assistant to the Deputy Commissioner International; the technical assistant to the Director of PFTG; a territory manager in the retail, food and pharmaceuticals industries; a team manager in the heavy manufacturing industry; and the IRC Section 263A Technical Advisor. Debbie taught accounting and taxation as an adjunct at Delaware State University, Wilmington College and Goldey-Beacom College. She has been a seminar presenter for over 24 years and a textbook author. She regularly receives the Surgent Outstanding Discussion Leader Award.

    PRICING

    $332.00 - Member

    $403.00 - Nonmember

    Pre-Registration Closed

    Online pre-registration for this event is now closed.

    ADDITIONAL OPTIONS

    Print a registration form

    COURSE DEVELOPER

    AICPA/NJCPA

    AREAS OF INTEREST