Course curriculum

    1. Introduction

    1. Test Your Knowledge: The filing deadline for S Corps is:

    2. General Information & Penalties

    1. Test Your Knowledge: Either a Corporation or LLC can file for 2848 to elect S Corp Treatment.

    2. S-Corp Qualifications

    1. Test Your Knowledge: What is the maximum number of shareholders allowed in an S Corp?

    2. S-Corp Election

    1. Test Your Knowledge: Who must consent to revoking the S Corporation?

    2. Termination

    1. Test Your Knowledge: Distributions up to shareholder’s basis are taxed at:

    2. S-Corp Stock Basis: Part 1

    3. Test Your Knowledge: The S Corporation is responsible for tracking shareholder basis.

    4. S-Corp Stock Basis: Part 2

    5. Test Your Knowledge: Losses in excess of basis reduce taxable income on the shareholder return.

    6. S-Corp Stock Basis: Part 3

About this course

  • $99.00
  • 18 lessons
  • 1.5 hours of video content
  • 2 IRS CEs, 0 CPE

Learning Objectives:

By the end of the course, participants will:

  • Become familiar with preparing the 1120S Return: Gain a comprehensive understanding of the intricacies involved in preparing the IRS Form 1120S, including the various sections, schedules, and reporting requirements specific to S Corporations.

  • Learn how to elect and revoke S Corp status: Explore the process of electing S Corporation status, including the eligibility criteria, advantages, and potential implications. Understand the steps involved in revoking S Corp status and transitioning to other business entities.

  • Understand Penalties related to S Corps: Familiarize yourself with the common pitfalls and errors that can lead to penalties related to S Corps. Gain insights into how to navigate compliance issues and avoid costly mistakes.

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