S Corp A To Z - Part 2 (Self-Study Video)

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

The second part of a three-part series on S Corporations, an entity type where a lot of clients have chosen to play the ‘beat the FICA tax game’. S Corporations are also looked at to get the maximization of the 199A deduction. In this course, Chis Province, CPA, will take you through more of the operating aspects of an S Corporation including non-separately stated items, separately stated items, new disclosure on the K1 with the shareholder loans (new for 2020-2021).   Also mentioned in part 2 is the new form 7203 that the IRS is in the process of developing, where we’re going to have to report additional information on stock basis and debt basis. Chris will cover compensation planning, reasonable compensation- code section 199a, and he will give you specific examples from his tax practice of how he has saved his clients tens of thousands of dollars with proper tax planning.

Learning Objectives

  • Cite issues and requirements for the operating aspects of an S Corp
  • Identify non-separately and separately stated items
  • Cite aspects of the new disclosure on the K1 with shareholder loans
  • Identify elements of the new form 7203- additional reporting on stock basis and debt basis
  • Cite issues related to compensation planning and reasonable compensation
  • Identify rules and regulations related to fringe benefits

Course Specifics

Course ID
8222845SSVID
Revision Date
April 13, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02001-22-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1738
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Robert “Chris” Province, CPA

Robert “Chris” Province, CPA, has over 20 years of experience in delivering, instructing, and designing training courses. In addition to his speaking, Chris is currently a self-employed CPA specializing in taxation of high net worth individuals and closely-held businesses with clients located in many states throughout the United States. Chris has also served as a tax partner and senior tax member for several local, regional, and national CPA firms. He was a member of the national AICPA S-Corporation Technical Resource Panel and the Qualifications Committee for the California Board of Accountancy. Chris is a licensed Certified Public Accountant in California, …

Robert “Chris” Province, CPA Read More »

S Corp A To Z - Part 2 (Self-Study Video)

CPE CREDITS
2 Credits: Taxes

$98.00

Icon_Self-Study
QAS Self-Study
Icon_Level
Overview
Credits
CPE Credits
2 Credits: Taxes

Course Description

The second part of a three-part series on S Corporations, an entity type where a lot of clients have chosen to play the ‘beat the FICA tax game’. S Corporations are also looked at to get the maximization of the 199A deduction. In this course, Chis Province, CPA, will take you through more of the operating aspects of an S Corporation including non-separately stated items, separately stated items, new disclosure on the K1 with the shareholder loans (new for 2020-2021).   Also mentioned in part 2 is the new form 7203 that the IRS is in the process of developing, where we’re going to have to report additional information on stock basis and debt basis. Chris will cover compensation planning, reasonable compensation- code section 199a, and he will give you specific examples from his tax practice of how he has saved his clients tens of thousands of dollars with proper tax planning.

Learning Objectives

  • Cite issues and requirements for the operating aspects of an S Corp
  • Identify non-separately and separately stated items
  • Cite aspects of the new disclosure on the K1 with shareholder loans
  • Identify elements of the new form 7203- additional reporting on stock basis and debt basis
  • Cite issues related to compensation planning and reasonable compensation
  • Identify rules and regulations related to fringe benefits

Course Specifics

Course ID
8222845SSVID
Revision Date
April 13, 2022
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02001-22-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1738
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Robert “Chris” Province, CPA

Robert “Chris” Province, CPA, has over 20 years of experience in delivering, instructing, and designing training courses. In addition to his speaking, Chris is currently a self-employed CPA specializing in taxation of high net worth individuals and closely-held businesses with clients located in many states throughout the United States. Chris has also served as a tax partner and senior tax member for several local, regional, and national CPA firms. He was a member of the national AICPA S-Corporation Technical Resource Panel and the Qualifications Committee for the California Board of Accountancy. Chris is a licensed Certified Public Accountant in California, …

Robert “Chris” Province, CPA Read More »

S Corp A To Z - Part 2 (Self-Study Video)

CPE CREDITS
2 Credits: Taxes

$98.00