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S Corporations (Fourth Edition)

Charles Herbst

This course reviews the taxation of S Corporations and their shareholders. The course examines the passthrough system and its effects on both shareholders and on the corporation. It provides essential information surrounding the election of S Corporation status and taxation rules under Subchapter S of the Internal Revenue Code. It outlines the rules concerning the tax computations for income, loss, deductions, or credit, for S corporations and their shareholders.

The American Jobs Creation Act of 2004 (AJCA 2004) made a number of changes to the S corporation rules, which are discussed throughout the course.

Topics include:

  • General tax rules imposed on corporations electing S status and tax rules imposed on operating S corporations
  • Limitations on the fringe benefits that may be offered to shareholder-employees
  • Direct taxation of S corporations in a few limited situations, such as conversion from C to S status

Course Details
Price:  $65.00
Field of Study:  Taxes
Prerequisites:  None
Level:  Basic
CTEC course number:  1075-CE-3237
Course was last updated on:  05/31/05
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Technical Requirements:
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Credit Available For: Units
CPE 4 CPE
QAS 4 CPE
CFP® (Accepted by the CFP Board) 4 CPE
Enrolled Agent (Accepted by the IRS) 4 CPE
CTEC Federal 4 CE

Note: Recommended CPE credit is based on a 50-minute hour. Participants earning credits for states that require self-study to be based on a 100-minute hour will receive half the recommended CPE credits for successful completion of this course.

Since Continuing Professional Education requirements vary from state to state and are subject to change without notice, please contact your state board of accountancy for information on your CPE requirements and the applicability of this course to meet those specifications.

CCH has been approved by the California Tax Education Council to offer courses that provide federal and state credit towards the annual "continuing education" requirement imposed by the State of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

User Reviews
Reviewer: Nicole P. submitted on 12/03/2008
The formant
Reviewer: Ryan D. submitted on 01/03/2007
Information well organized and clear
Reviewer: Liz B. submitted on 11/13/2007
The course included a lot of details that I use with my current client base.
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