Description:

This book is for preparing 2023 taxes. Many tax professionals are expanding their client base to include business clients and, as a result, they need to know how to prepare business returns. This course is designed for tax professionals who are new to preparing S corporation tax returns. The course material will guide tax professionals through Form 1120-S, U.S. Income Tax Return for an S Corporation, and the accompanying schedules. A comprehensive example showing how to apply the guidance ties everything together.

Topics include:

• Identify businesses eligible to make the S election
• Prepare Form 2553, Election by a Small Business Corporation
• Choose a tax year and accounting method for an S corporation
• Prepare a basic Form 1120-S, including Schedules K, K-1, L, M-1 and M-2
• Summarize the unique fringe benefit rules for more-than-2% shareholders
• List income and expense items that differ for book and tax purposes
  
  

Product Details:

Item Number: 23330

Level: Basic

Authors: NATP Staff

Published: 2023

Format: Print

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Corresponding CPE Courses:

Get the e-book FREE when you purchase the corresponding 2023 course when available.