- NY Credits : 2.0
- TX Credits : 2.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 2.0
This course considers the definition of an S corporation and compares the advantages and disadvantages of its operations to those of a regular C corporation. It explains the requirements to be an S corporation, how to make an S election, as well as the choice of accounting methods and taxable years.
This course is most appropriate for the professional with detailed knowledge in S corporation taxation who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.
Upon successful completion of this course, the user should be able to:
identify the major federal income tax characteristics of S corporation as well as other types of entities,
identify the requirements for electing S status, and
identify the requirement for a valid S election.