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S-Corps Certificate Program: Introduction to S-Corps

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Description

S-Corps Certificate Program: Introduction to S-Corps
IRS Program #:
X9QQU-T-00899-22-O
CTEC #: 6257-CE-0092
CE: 2 IRS CE credits & 2 CTEC credits
Speakers: Iris K. Palma, J.D; Thomas J. Williams, EA

Upon receiving an approved IRS election, the S-corporation tax classification allows the taxpayer to pass through its income, expenses, credits, and losses to the shareholders. In this presentation, we will provide a review of essential elements and limitations. Plus, we’ll show you how to comprehend and communicate the advantages and disadvantages of subchapter “S” corporations from a tax standpoint.

In this class, you’ll learn how to:

  • Review election criteria, including eligible shareholders
  • Define reasonable compensation
  • Identify taxable and non-taxable distributions
  • Apply for late election relief
  • Verify late filing penalties

Contributors

  • Iris K. Palma, JD

    Thomas J. Williams, EA, USTCP and Iris K. Palma, JD, operate a Florida-based virtual boutique tax practice founded in 2009. They are also the co-authors of a series of tax books and guides for small business owners and individual taxpayers, including the award-nominated Deducting The Right Way: Untangling Small Business Accounting & Taxes.

    Both presenters support the NAEA’s endeavors: Tom participated in the Congressional Fly-In Day (2019), co-presented a webinar for the FSEA Orlando Chapter (Dec 2019), and co-wrote articles for the EA Journal. In addition, the pair spoke at the NAEA 2021 Winter Academy in Scottsdale, AZ, and the 2022 Tax Summit in Las Vegas.

  • Thomas J. Williams, EA, USTCP

    Thomas J. Williams, EA, USTCP and Iris K. Palma, JD, operate a Florida-based virtual boutique tax practice founded in 2009. They are also the co-authors of a series of tax books and guides for small business owners and individual taxpayers, including the award-nominated Deducting The Right Way: Untangling Small Business Accounting & Taxes.

    Both presenters support the NAEA’s endeavors: Tom participated in the Congressional Fly-In Day (2019), co-presented a webinar for the FSEA Orlando Chapter (Dec 2019), and co-wrote articles for the EA Journal. In addition, the pair spoke at the NAEA 2021 Winter Academy in Scottsdale, AZ, and the 2022 Tax Summit in Las Vegas.

October 25, 2022
Tue 2:00 PM EDT

Duration 2H 0M

This live web event has ended.

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(855) 880-NAEA (6232) press option 2