Description
Even though they have been around for several years, the tax laws pertaining to S corporations remain some of the more difficult areas of the Internal Revenue Code. Given the rising popularity of S corporations, understanding how shareholder basis and the equity section of the balance sheet work together for tax purposes is imperative for nearly any tax practitioner.
In this course, we will discuss this relationship. Using examples and illustrations, we will show how contributions, operating transactions, and distributions affect shareholder basis as well as equity.
Required Knowledge: None
Advanced Preparation: None
Who Should Attend: CPAs and tax practitioners who work with S-corporation business clients and S-corporation shareholders
Objective
* Recognize the formula for calculating S-corporation shareholder basis * Identify the items of income and deduction that are allocated to AAA, PTI, AE&P, and OAA * Calculate the tax effects of a distribution on shareholder basis and AAA
Credit Types
- Taxes: 2
Event Speaker(s)
- Enrolled Agent
Registration Fees
| Registration | Type | Price |
|---|---|---|
| Surgent: Live Online (2 hours) | Members | $100.00 |
| Surgent: Live Online (2 hours) | Non Members | $225.00 |
The North Carolina Association of Certified Public Accountants 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/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.