Preparing S Corporations
Day One - $217 for Members and $259 for Nonmembers
Both Days - $394 for Members and $478 for Nonmembers
Learning the complex area of S corporation taxation is a great way to enhance the services you provide to clients and expand your business. With our two-day workshops, Preparing S Corporation Returns and Intermediate S Corporations, you’ll learn the ins and outs of S corp taxation and walk through the actual preparation of Form 1120S in an illustrative example starting with a trial balance.
When you’re used to preparing individual tax returns and suddenly find yourself faced with preparing your first S corporation return, the task can seem daunting. Many taxpayers utilize S corporations to reduce taxes, so if you’re looking to add the preparation of S corporation returns to your business or to simply get up to speed on the most common areas of S corporation taxation, this is the course for you! Receive the knowledge necessary to accurately prepare Form 1120S, U.S. Income Tax Return for an S Corporation, and the accompanying schedules.
Upon completion of this course, you will be able to:
- List the advantages and 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.
Our instructor and researchers will answer your questions during the presentation. This workshop also includes e-book and access to the recorded version.
Kathryn Keane, EA