S Corporations: Key Issues, Compliance and Tax Strategies

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.

• Qualifies for IRS CE

This event is part of ISCPA's 2024 Tax School, designed to provide a convenient, comprehensive education about tax fundamentals for early-career tax staff in a series of courses. This series, designed for the ever-changing and complex world of tax, features high-quality presentations and an interactive, colleague-to-colleague approach to ensure participants develop the skills to apply their knew knowledge in practical settings.

Public accounting firm staff and senior associates, CPAs, and S corporation tax filers

When you complete this course, you will be able to:

• Determine when an S corporation may be advantageous for a business.
• Identify the requirements to qualify for an S election.
• Recognize individuals and entities that are eligible to own S corporation stock.
• Determine when the S election becomes effective.

 

This stand-alone event is also part of the 2024 ISCPA Tax School, which is designed to:

• Provide a comprehensive education about tax fundamentals for early-career tax staff in a series of courses.
• Ensure the newest members of the tax force are well-prepared to begin their careers and support their firms.
• Provide new staff with relevant technical and professional skills that focus on real-world issues and solutions.

• 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

• Manual
  • If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
  • If you did purchase a printed manual and would also like an electronic copy be sure to download it
• Review ISCPA Parking Map - found in your email confirmation

If you need this reported to the IRS for CE credit, email CPE@idcpa.org