myCPE
myCPE

S Corps - Everything You Need to Know 1 Credit

Jun 03, 2022, 01:00 PM ET

S Corps - Everything You Need to Know 1 Credit

Learning mode

Live Webinar
  • Access the course at your convenience
  • Take the assessment test
  • Get your certificate
  • Attend the live interactive session
  • Answer the polling questions
  • Get your certificate
Jun 03, 2022, 01:00 PM ET

Learning Objective

  • To identify the benefits and tax savings of an S Corporation.
  • To define the break-even point calculation to determine when an S Corporation makes sense.
  • To recognize how to follow the tax law requirements of running an S corporation and best practices.
  • To identify the importance of documenting and determining reasonable compensation.
  • To recognize what shareholder loans are and how the IRS treats them.
  • To define the basis and why it's important.
  • To list more tax savings strategies for an S Corporation.

Course Overview

An S corporation, also known as an S subchapter, refers to a type of corporation that meets specific Internal Revenue Code requirements. If it does, it may pass directly to shareholders, without having to pay federal corporate taxes. Usually associated with small businesses, S Corp status effectively gives a business the regular benefits of incorporation while enjoying the tax-exempt privileges of a partnership.

This CE/CPE webinar is designed to raise tax professionals' awareness of all of the concepts and requirements needed to successfully operate an S Corporation.

The primary benefit of filing as an S corporation with the IRS is that you avoid double taxation, as this is considered a pass-through entity. A business that files as an S-Corp isn't taxed by the federal government.

Attendees of this CE/CPE Tax course will better understand the benefits and downfalls of S Corps to help clients make better decisions, legally pay less in taxes, and keep more money in their business.

The recent situations have come with a lot of changes in the laws governing business entities. It not only covers the updates in the law but its practical application such as submission as well. Especially in the case of S Corporation, there have been significant changes that have affected the operations and tax aspects in a major way. This webinar encompasses major updates that are significant for the S corporation. Further, it takes a business perspective that can help you in your practice.

This Tax Strategy CE/CPE webinar covers simple and powerful tax strategies that can be implemented today, along with sample agreements and worksheets for use in practice.

On Demand Credits for All Qualifications

Nano Credits for All Qualifications

On Demand Credits for All Qualifications

Live Webinar Credits for All Qualifications

License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0742) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0742) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0742) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
License details Credits Status
Taxes for Certified Public Accountants (CPA-US) 1 CPE Approved
Federal tax-related matters for Enrolled Agents (EA) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Federal tax-related matters for Annual Filing Season Program (AFSP) 1 CE Approved
Federal tax-related matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0742) 1 CE Approved
Federal tax-related matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved
Certified Wealth Strategist (CWS) 1 CE Eligible
Certified Fiduciary and Investment Risk Specialist (CFIRS) 1 CE Eligible
Federal tax-related matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00799-21-O) 1 CE Approved

Additional Information

Credit

1

Course Level

Basic

Instructional Method

QAS Self Study
Group Internet Based

Pre-requisites

None

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 aintenance 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.

About Instructor

Joshua Standley
Joshua Standley

Account Executive, DKK Accounting, Inc.

  • 4.6
  • rating
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Josh believes small businesses care about what they do and need the resources to keep their passion alive. He decided to dedicate his career to making small businesses better by providing them with the tools and knowledge necessary to succeed. Having earned his degree in Accounting, he is an Enrolled Agent and Accredited Business Accountant. He is also a Registered Tax Planner and Certified QuickBooks ProAdvisor. When Josh is not in the office, you will find him spending time with his family and friends.

On Demand FAQs

What is Self Study (QAS)?

Self Study QAS (Quality Assurance Service) is a NASBA and other regulatory bodies approved program designed for Professionals to complete their Continuing Professional Education credits through self-paced, interactive courses that meet the highest standards of quality and compliance. We are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn CPE credits through self-study?

To earn CPE credits, you must complete the self-study course, pass the required assessments, and submit the necessary documentation. Credits are awarded based on the completion of course hours and successfully passing the assessments.

Are the self-study courses approved by NASBA and other regulatory bodies?

Yes, all our self-study courses are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the rigorous standards for quality and educational content set by these organizations.

What are the requirements to maintain compliance with self-study courses?

To maintain compliance, you must follow the guidelines set by NASBA and other regulatory bodies, which include completing the course within the specified timeframe, passing the assessments, and keeping accurate records of your learning activities.

How can I access my course completion certificates?

After successfully completing a self-study course and passing the assessments, you can access and download your course completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Live Webinar FAQs

What is a Live Webinar Group Internet-Based Credit?

A Live Webinar Group Internet-Based Credit is an interactive, real-time online seminar where professionals can earn Continuing Education credits by participating in live sessions led by experts in various fields. These sessions meet the standards set by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies.

How do I earn credits through live webinars?

To earn credits, you must attend the entire live webinar, actively participate in any polls or questions, and complete any required evaluations or assessments. Credits are awarded based on your attendance and participation in the live session.

Are the live webinars approved by NASBA and other regulatory bodies?

Yes, all our live webinars are approved by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies, ensuring they meet the high standards for quality, interactivity, and educational content set by these organizations.

What are the requirements to maintain compliance with live webinar courses?

To maintain compliance, you must adhere to the guidelines set by NASBA and other regulatory bodies, which include attending the full duration of the webinar, participating in interactive elements, and completing any post-webinar evaluations or assessments.

How can I access my webinar completion certificates?

After successfully attending a live webinar and fulfilling all participation requirements, you can access and download your completion certificates from your account dashboard on our platform. These certificates are recognized by NASBA, IRS, CFP Board, HRCI, SHRM, Payroll Org, FP Canada, and 25+ other regulatory bodies for compliance and reporting purposes.

How are credits reported to governing bodies?

We issue instant credit certificates, ensuring they are valid for presentation to governing bodies. Typically, we report IRS, CTEC, CFP, IDFP, IWI, VBOA Ethics credits within 7 days – the fastest in the industry.

Reviews and Ratings

out of 5

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Very Good

Average

Poor

Terrible

TK

Tami Krauss, EA
5

I wish that 10 years ago when I was starting to really ramp up my knowledge of the S Corporation and entity choice classifications that this course was available. This instructor would really be doing a service to our community to do a training on all entity choices in one CPE Training, like an ALL Day event. Using court cases and items of concern etc. This was very good!

DK

Denelle Keeler, EA
5

Great speaker with a real world working knowledge on the topic of S-Corp taxation. I liked how he kept it understandable for everyone, regardless of the level of S-Corp experience, the attendees had.

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