1120-S Preparation and Strategies: Part 1 (2024) (Currently Unavailable)
Author: Greg White
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for EAs and OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2027 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
This course is the first in a series of classes authored by Greg White that provides a step-by-step approach to completing Form 1120-S, with deep dives into important topics to successfully prepare Form 1120-S.
Publication Date: April 2024
Designed For
Tax professionals who prepare S corporation income tax returns
Topics Covered
- Electing S corporation status, including late elections
- Choosing the best taxable year for S corporations
- Grouping at-risk activities and passive activities on Form 1120-S
- Fringe Benefits
Learning Objectives
- Identify why tax professionals choose S corporations for clients
- Identify the easiest way to get late filing penalties for S corporations abated
- Recognize how to complete Form 1125-E to report officer compensation
- Determine which fringe benefits are tax free for S corporation shareholders, and how to report them
- Identify the line of Form 1120-S which compensation of officers should be reported on
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
