Preparing S Corporations

Summary

This course is for tax professionals adding the preparation of S corporation returns to their business, and for tax professionals simply looking to get up to speed on the most common areas of S corporation taxation. If you are one of these tax professionals, take this course to receive the knowledge necessary to accurately prepare Form 1120S, U.S. Income Tax Return for an S Corporation, and the schedules that accompany this form. This course guides you through the actual preparation of Form 1120S in an illustrative example starting with a trial balance.

Objectives

Upon completion of this course, you will be able to:

  • List the advantages or disadvantages of forming an S corporation.
  • Identify businesses eligible to make the S election.
  • Make an S election, including a late election.
  • Choose a tax year and accounting method for an S corporation.
  • Complete a basic Form 1120S, including Schedules K, K-1, L, M-1, and M-2.
  • Identify income and expense items that differ for book and tax purposes.
  • Determine amounts to pass-through and allocate to each shareholder.
  • Identify separately-stated items.
  • Summarize the §179 expense rules for S corporations.
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Course Details

Includes online workshop recording, PowerPoint presentation, interactive module, case studies and e-book. CPE is issued after exam is successfully completed.




   

Presented by: Melinda Garvin, EA

How to Earn CPE

To receive credit for this on-demand webinar, you must make at least one attempt to answer each of the review questions included with the webinar video. You also must successfully pass the course exam with a score of 70% or better.

The course and exam will expire one year from the date of purchase.

Cancellation Policy

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

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