S Corporations: Key Issues, Compliance, and Tax Strategies
Get the knowledge you need to speak effectively to new and current clients about how you can make the S Corporation business model work for them. Be prepared to explain the benefits and drawbacks of electing S Corporation status and why more business taxpayers favor the pass through entity over the C Corporation. Discuss the most misunderstood areas of S Corporations taxation and how businesses and shareholders can use them to their advantage.
Recall the advantages of electing S Corporation status. Identify the requirements to qualify for an S Election. Recognize individuals and entities that are eligible to own S Corporation stock. Recall how to make a proper S Corporation election. Recall how income or loss passes through the S Corporation to the shareholders. Recognize the complex rules of distributions. Recognize active and passive income and determine material participation. Recall key points related to the Section 179 deduction.
Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations.
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