S Corporations: Key Issues, Compliance, and Tax Strategies - Tax Staff Essentials
Tax planning strategies for new businesses considering electing S corporation status, and the pros and cons of switching from a C corporation to an S corporation.
Format
Webcast
Date
Oct 31, 2025
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
8
Instructor
J. William Harden
Availability
Product Number
VTSESCF251031
Explaining the misunderstood
The S corporation form of entity is unique and often misunderstood. You'll learn how to assist your clients with the most misconstrued areas of S corporation taxation and how they can use S status to their advantage.
Updated for recent legislation
The world of taxation is never static. The course is updated for recent legislative and regulatory changes, including:
- Schedules K-2 and K-3 filing requirements
- Inflation Reduction Act
- SECURE 1.0 and 2.0
- Beneficial ownership information reporting
Weighing the pros and cons
S corporation status doesn't suit every business. Throughout the course, you'll learn when it is advantageous or disadvantageous to be taxed as an S corporation.
Making the model work
You'll be exposed to methods of effectively communicating with potential business clients and existing shareholders about how you can make the S corporation business model work for them.
Key Topics
- Advantages and disadvantages of S corporations
- Electing S corporation status
- Termination of S corporation status
- S corporation tax on built-in gains
- S corporation pass-through to shareholders, basis and losses
- S corporation distributions
- Taxable year of S corporations
- S corporation passive activity rules, fringe benefits and other considerations
Learning Outcomes
- Recognize when an S corporation may be advantageous for a business.
- Identify the potential disadvantages of operating as an S corporation.
- Identify permitted fiscal years, elections, and user fees.
- Recognize when the S election becomes effective.
- Identify shareholder consent rules and causes of invalid elections.
- Recognize events causing involuntary termination.
- Recall the path to making a new election after termination.
- Recognize when an S corporation is subject to tax at the entity level.
Who Will Benefit
- Public accounting firm staff and senior associates
- CPAs
- S corporation tax filers
Group ordering for your team
2 to 5 registrants
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US customers call 1-800-634-6780 (option 1)
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