The most popular form of business entity is the S corporation. S corporations create special reporting and transactional issues because they follow the “entity” approach applicable to all corporations. The tax result can be a combination of provisions found in subchapter C and subchapter S. For this reason, although both partnerships and S corporations are flow through entities, the tax result of similar transactions can be very different in the two entity types.
This session is “Part I” of a two-part program on the taxation of S corporations and their shareholders. This session will review many of the basic provisions of subchapter S and will help prepare both staff and management for dealing with more complex tax concepts applicable to both S corporations and their shareholders.
In this four-hour course, nationally recognized tax expert and instructor James Hamill, CPA, Ph.D., will explain the taxation of S corporations by use of commonly encountered transactions. The session will generally follow a “life cycle” approach, beginning with a review of what “entity” concepts mean and then leading into the formation of an S corporation. It will then begin to address common transactions that S corporations engage in during their “lives.”
Instructional MethodGroup: Internet-based
NASBA Field of Study
Taxes (4 hours)