​Basics of Business Entity Taxation Online Training – Oct. 17-24

Instructor-led sessions on Oct. 17, Oct. 22 and Oct. 24 from 10:00 a.m. - 2:00 p.m. CT

Summary

Preparing a business entity tax return requires knowledge in both tax law and its application. After you’ve learned tax law, you must learn how to apply it to the tax return. This course uses a unique hybrid learning approach to teach the application of tax law to the tax return.

During this training, you’ll learn a variety of business entity tax topics such as entity structure; how to properly record and report the business activity in the books and records and on the tax return; differentiate between assets that are expensed and those that need to be capitalized and depreciated; and determine what is included in income and which expenses are deductible. Using examples, we’ll walk through the procedures to complete basic tax returns for partnerships, S corporations and C corporations. At the end of this session, we’ll provide a case study for you to complete to test your knowledge on preparing partnership, S corporation and C corporation tax returns and to be able to compare the results to determine the best entity option for your client.

Objectives

Upon completion of this course you will be able to:

• Summarize basic bookkeeping procedures
• Distinguish between taxable and nontaxable income, and deductible and nondeductible expenses
• Differentiate between capital assets and expendable repairs
• Summarize the differences between MACRS, §179 and bonus depreciation
• Compare and contrast the various entity structures
• Summarize the tax effects of forming partnerships, S corporations and C corporations
• Prepare basic partnership, S corporation and C corporation tax returns

Course details

Completion of reading assignments prior to the instructor-led sessions is highly recommended. Instructor-led sessions will occur Oct. 17, Oct. 22 and Oct. 24 from 10:00 a.m. - 2:00 p.m. CT. During the sessions, the instructor will discuss main concepts and apply real-life scenarios. Throughout the sessions the learners will have the opportunity to ask questions. Learners will be provided with a recording of each session. The course ends with homework to complete a case study. After completing the case study tax returns, you’ll be able to analyze and recommend an entity structure.

View course outline​

Instructor: Sheri Fronsee, CPA

How to earn CPE

The self-study portion of this online training includes the Basics of Business Entity Taxation course​ with access to 12 CPE for AFSP, EA, CPA, CRTP. To earn CPE, you must complete a final examination.

​Cancellation policy

​Because this is an online education offering, it is nonrefundable.​​​