Table of Contents.
Description:
Many small business owners file as S corporations to reduce taxes, so if you’re looking to add the preparation of S corporation returns to your business, or to simply get up to speed on the most common areas of S corporation taxation, this is the textbook for you! Receive the knowledge necessary to accurately prepare Form 1120S, U.S. Income Tax Return for an S Corporation, and the schedules that accompany it.
Preparing S Corporation Returns covers:
- The advantages and disadvantages of forming an S corporation.
- Types of businesses eligible to make the S election.
- Making an S election, including a late election.
- Choosing a tax year and accounting method for an S corporation.
- Completing a basic Form 1120S, including Schedules K, K-1, L, M-1 and M-2.
- Identifying income and expense items that differ for book and tax purposes.
- Determining the amounts to pass-through and allocate to each shareholder.
- Identifying separately stated items.
- The §179 expense rules for S corporations.
Product Details:
Level: Basic level
Author: NATP Staff
Publisher: NATP
Publication Date: 2018
Format: Electronic
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Preparing S Corporation Returns Self-Study Course
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