CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS
Webcast

S Corp A to Z – Part 2

2 Credits: Taxes

$98.00

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S Corp A to Z – Part 2

Format
Webcast
Course Level
Overview
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.

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Learning Objectives

Upon completing this course you will understand:

  • Operating aspects of S Corp
  • Non separately and separately stated items
  • New disclosure on the K1 with shareholder loans
  • New form 7203- additional reporting on stock basis and debt basis
  • Compensation planning and reasonable compensation
  • Fringe benefits
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Course Specifics

Course ID
WC1821257468
Revision Date
October 13, 2021
Prerequisites

None

Advanced Preparation

None

Compliance Information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02161-22-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1646
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 registration 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. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.

CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. 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, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.

Meet The Experts

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, …

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