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8.0 Credits

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 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.

Major Topics

 S Corporation qualifications  Election of S Corporation status  Termination or revocation of S Corporation status  Pass-through of income and loss items to the shareholder  Distributions to S Corporation shareholders  Reporting and filing requirements  Choice of year-end  Shareholder basis

Designed For

Staff and senior associates in public accounting who assist clients with tax compliance for closely held S Corporations


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Materials Option

How would you like to receive your course materials?:

Your registration fee includes an electronic copy of the course manual. Your eMaterials will be available for download in the "My CPE" area of the website one week before the program date. Please note: Program cancellations will not be allowed once you have downloaded your eMaterials from the website. Copyright note: Reproduction or distribution of the manual or any portion of it is prohibited unless written permission is obtained from the course provider.

We will print a manual and provide it to you at registration the morning of the program.

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AICPA members take $30 off the price