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Intermediate S Corporations

Day Two - $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.

Summary

This hands-on course is ideal for tax professionals who have prepared S corporation returns and are looking to improve their skills to better assist clients with their continuing needs. In order to become more proficient in S corporations, it is imperative to know more than how to prepare Form 1120S. Topics covered include reasonable compensation, built-in-gains tax, distributions, shareholder basis, shareholder loss limitations, ownership changes, and liquidation issues.

Objectives

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

  • Determine if an S corporation is paying a reasonable salary to its shareholder-employees.
  • Identify corporations subject to built-in gains tax.
  • Compute and report the built-in gains tax.
  • Compute the shareholder’s stock basis in the S corporation.
  • Determine the timing and ordering rules for basis adjustments.
  • Summarize how distributions from an S corporation are taxed.
  • Report the repayment of reduced-basis debt.
  • Compare and contrast AAA, stock basis, and retained earnings.
  • Report the sale of stock of an S corporation.
  • Predict how income and losses are allocated when there is an ownership change.
  • Identify an inadvertent termination of the S election and summarize how to fix it.
  • Prepare Form 1120S in its liquidation year.
  • Report expenses that are incurred post-liquidation.

Course Details

Our instructor and researchers will answer your questions during the presentation. This workshop also includes e-book and access to the recorded version.






   

Presented by: Kathryn Keane, EA

How to Earn CPE

To receive full credit for this online workshop, you must provide us with at least 70% of the polling words that are communicated by the instructor throughout the workshop.

These polling words should be entered in the survey tool that launches automatically when the GoToWebinar window is closed at the conclusion of the workshop. If you are unable to access the survey, polling words can be emailed to learn@natptax.com​.

Please allow up to 7 days for us to verify attendance and issue certificates.​

Cancellation Policy

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

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