Tax Reform Impact on S Corps & Partnerships Self-Study
The Tax Cuts and Jobs Act of 2017 affects most small businesses, which presents an additional opportunity to assist your clients in maximizing tax savings. This hands-on course will look at partnerships and S corporations, their elections and adjustments, as well as how the new tax law affects them.
Upon completion of this course, you will be able to:
- Describe the taxation of partnerships.
- Identify the effects of partnership elections.
- Calculate required basis adjustments.
- Identify adjustments to be made on Form 1065, Schedules M-1 and M-2.
- Describe the taxation of S corporations.
- Compute and report the built-in gains tax.
- Compare and contrast AAA, stock basis and retained earnings.
- Identify the effects of S corporation elections.
- Identify adjustments to be made on Form 1120S, Schedules M-1 and M-2.
- Identify the provisions of the Tax Cuts and Jobs Act that affect partnership and S corporation taxation.
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.