Tax Staff Essentials - S Corporation Bundle

Overview

Professionals gain the skills needed to navigate S corporation matters confidently with this bundle of S corporation and small business courses.

Highlights

Key Topics

• Advantages and disadvantages of S corporations
• S corporation tax on built-in gains
• S corporation distributions
• Basis in S corporation stock
• Qualified subchapter S subsidiaries
• Section 199A and the qualified business income deduction
• Reasonable compensation
• Depreciation, Section 179, and bonus depreciation

Prerequisites

Basic understanding of pass-through taxation

Designed For

Who Will Benefit

Tax professionals seeking in-depth training on S corporation income taxes

Objectives

Learning Outcomes

• Recognize the advantages and disadvantages of S corporation status.
• Identify shareholder consent rules and causes of invalid elections.
• Recognize events causing involuntary termination.
• Recognize when an S corporation is subject to tax at the entity level.
  -Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
• Apply the rules relating to qualified Subchapter S subsidiaries (QSubs).
• Differentiate the advantages available for small businesses based on entity type.
• Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.