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Charles Herbst, J.D., LL.M.
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.
Topics covered include:
- General tax rules that are imposed on corporations wanting to elect S status and the 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
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Course Details
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Price: $60.00
Field of Study: Taxes
Prerequisites: None
Level: Basic
CTEC course number: 1075-CE-5127
Course was last updated on: 03/21/08
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Library:
Technical Requirements:
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| Credit Available For: |
Units |
| CPE |
4 CPE |
| QAS |
4 CPE |
| Enrolled Agent (Accepted by the IRS) |
4 CPE |
| CTEC Federal |
4 CE |
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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.
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