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Adjustments to Shareholder Debt Basis11 mins
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Expansion of Cash Method of Accounting for Small Business42 mins
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Corporate Formation85 mins
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Procedural Requirements118 mins
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Form 1120S & Schedule K/K-1 Reporting153 mins
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Form 1120S Instructions to Schedule K-1, Line 17185 mins
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Qualified Business Income Deduction227 mins
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Modifications of Limitation on Business Interest272 mins
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Ordering Rules of Distributions295 mins
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Issue of Converting from a C to S corpotation364 mins
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- Presenter
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Course Description
Course Description
With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs an S corporation course focusing on the hottest tax topics and most frequently encountered issues. This case-driven online CPE/CE webinar will deal with both S corporation and shareholder developments addressing the most common, yet complex Federal S corporation issues and problems.
This online CPE/CE class will review S corporation tax law by looking at case studies addressing issues and problems at both the S corporation and shareholder level. Each attendee will receive the most comprehensive reference manual with numerous practice aids and real-world examples and case studies.
The IRS-Approved online CPE/CE Tax Course covers the following topics:
- An extensive review of the S corporation tax laws with an emphasis on any new legislative changes (SECURE & CURES Act) including the Tax Cuts & Jobs Act (TCJA) new 20% qualified business income (QBI) deduction and changes to the interest deduction, fringe benefits, and entertainment expenses
- Requirements to make an S election (i.e., types and numbers of shareholders and the second class of stock issues)
- Fixing late S corporation elections (i.e. Form 2553)
- S corporation formation (§351) and liquidation issues
- Revocation and termination of S corporations
- Schedule K and K-1 – separately & non-separately stated income and expense items
- Compensation issues including the tax treatment of fringe benefits
- Built-in gains tax and other planning opportunities when converting a C to S corporation
- Preparation of the Schedule M-2 and the ordering rules for distributions out of the AAA, PTI, E&P and OAA accounts
- Tax treatment of stock redemptions (sale or distribution?)
- Overview of a shareholder stock and debt basis and deductibility of losses
J. Patrick Garverick is one of the most admired and best-reviewed Tax Speaker in the country and we are offering the classes at a much-discounted price during the pandemic. His courses have been best-reviewed time and again
- For Quality of Content
- For Relevance and Practical Case studies
- For Best Teaching Approach
- For Best Course Material
Awards and Accolades
- Award for Instructor Excellence for California Education Foundation
- Award for Outstanding Course materials for California Education Foundation.
- Rated top tax instructor in nearly every location he has presented
- One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge.
During this webinar, you will get Free E-Book worth $200. The book will be shared with you during the webinar. The book is copyright protected.
Free E-Book Worth $200Get copyright protected E-Book related to course worth $200 for absolutely free, if you register now. Limited Period offer! |
Learning Objectives
- To Form and liquidate an S corporation and determine any tax ramifications to the corporation and shareholders
- To Calculate the corporation’s initial inside basis in the assets and shareholder’s stock and debt basis
- To Understand how the schedule K items get allocated to the shareholders on their individual Schedule K-1 and the effect on a shareholder’s stock and debt basis
- To Prepare a Schedule M-2 and determine how distributions are treated to the shareholders
Recommended For
- This CE/CPE Online course is for CPA & Enrolled Agent helping clients in formation and preparation of S corporations
- This Online CE Tax Classes Approved by IRS are for AFSP & All Tax Professionals interest in learning everything about tax laws for S corporations
Who Should Attend?
- Accountant
- Accounting Firm
- Accounting Managers
- Accounts Director
- Annual Filing Season Program
- Bookkeepers & Accountants & Tax Preparers
- Business Owner
- Certified Management Accountant (CMA)
- Certified Public Accountant (CPA)
- Certified Valuation Analysts
- Cloud Accountants
- Cloud Firms
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Enrolled Agent
- Entrepreneurial CPA
- Maryland Tax Preparers
- Oregon Tax Preparers
- Senior Accountant
- Staff of Accounting Firm
- Tax Accountant (Industry)
- Tax Attorney
- Tax Director (Industry)
- Tax Firm
- Tax Managers
- Tax Practitioners
- Tax Preparer
- Tax Professionals
- Young CPA
Course Qualification
Webinar Qualifies For
- 8 CE Credit for Enrolled Agents (EA) (Approval No. GEHNZ-T-00292-20-S)
- 8 CPE Credit for Certified Valuation Analyst (CVA)
- 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
- 8 CE Credit for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0300)
- 8 CE Credit for Annual Filing Season Program (AFSP)
- 8 CE Credit for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00292-20-S)
- 8 CE Credit for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00292-20-S)
- 8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
- 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
- 8 CE Credit for Certified Wealth Strategist (CWS)
- 8 General Credit for Accountant/Bookeeper
Additional details
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Course Level :Basic
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Credits :8
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Instructional Method :QAS Self Study
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Pre-requisites :None
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Advance Preparation :None
IRS APPROVED
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.
NASBA APPROVED
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
CTEC APPROVED
MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478
MY-CPE LLC (Sponsor ID# : 6273) 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, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.
Presenter
About Presenter
J. Patrick Garverick, CPA (US)
Accounting Manager, The Garvs, LLC
Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.
In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.
During his time in college, Pat earned a letter as a member of the Ohio State Basketball squad. He remains a staunch supporter of the sports programs at his alma mater.
Awards & accolades
- Multi-time winner of the California Education Foundation’s 1) Award for Instructor Excellence and 2) Award for Outstanding Course materials
- Rated top tax instructor in nearly every location he has presented
- One of the few instructors to have received perfect scores (multiple times) from attendees for both presentation skills and knowledge.
About Company
The Garvs, LLC
Since 1993 award winning author and instructor J. Patrick “Pat” Garverick, CPA, MT, CFP® has been providing tax and financial training educational courses to business professionals through out the country. Pat is recognized as one, if not THE best tax instructor in the country.
Faq
FAQs content
- To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
- Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
- You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
- Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
- This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
- If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
- Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
- You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
- As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
- myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.
Ratings and Review
4.5
25 Ratings
CW
Carole Whitlock, Accountant, EA
May 28th, 2022
This course was well done. I enjoyed Mr. Garverick's presentation of the material. It was well-organized and the supporting handouts were exceptional.
MO
Mo Omar, Accountant, CPA (US)
Jan 19th, 2022
There are a few errors in the quiz and I reported them.
AR
Adam Rook, EA
Oct 23rd, 2021
I understand why he went through the material he did as it's more complicated than a lot of other S-Corp concepts, but I was hoping for something that would have more application to small business clients who don't make millions of dollars per year or have pretty unusual circumstances involving property transfers or C-Corp conversions. Instructor was good at presenting though and I appreciated the pauses he included so I could process the information.
$120
8 Credits
Subject Area
Taxes
