1120S Preparation and Planning 2: Business Income, Deductions and Tax Payments (2018 Edition) (Currently Unavailable)

Author: Barbara Weltman, Sidney Kess

CPE Credit:  5 hours for CPAs
5 hours Federal Tax Related for EAs and OTRPs
5 hours Federal Tax Law for CTEC

This course, the second in the series, reviews S corporation income tax return preparation. It covers the reporting of trade and business income and deductions on Form 1120S.

Publication Date: October 2017

Designed For
Tax practitioners.

Topics Covered

  • Reviews S corporation income tax return preparation
  • The reporting of trade and business income and deductions on Form 1120S

Learning Objectives

  • Correctly report gross receipts and inventory (including the cost of goods sold) on Form 1120S
  • Recognize what other income is included in trade or business income
  • Correctly report trade or business deductions on Form 1120S
  • Describe built-in gains tax issues
  • Identify when an S corporation may be subject to Income tax
  • Describe estimated tax requirements

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Taxes (5 hours)

Program Prerequisites
1120S Preparation and Planning 1: Tax Fundamentals

Advance Preparation
None

">
 Chat — Books Support