Form 1120S - Preparation and Analysis
Total Credits: 2 including 2 Taxes - Technical
- Average Rating:
- 41
- Categories:
- ACPEN Tax Institute | Tax
- Faculty:
- Arthur Werner
- Course Levels:
- Basic
- Duration:
- 2 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
This course provides an in-depth exploration of Form 1120S, the tax return form used by S corporations. Students will learn the intricacies of preparing and analyzing this form, including how to determine the taxable income of the S corporation, how to properly report and allocate income, deductions, and credits, and how to calculate the shareholder's basis in the S corporation.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.
Basic Course Information
Learning Objectives- Discuss Form 1120S and the skills necessary to prepare the form for S corporations
- Prepare for 1120S
Major Subjects
- Understanding the definition and requirements of an S corporation, the benefits and limitations of choosing this entity type, and the eligibility requirements for shareholders
- Income and Deductions: Understanding the different types of income and deductions that an S corporation can have, including ordinary income, capital gains and losses, depreciation, and expenses.
- Shareholder Basis: Understanding the shareholder’s basis in the S corporation, how to calculate it, and the impact of distributions on the basis.
- Reporting Requirements: Understanding the different reporting requirements for Form 1120S, including Schedule K-1, Schedule L, Schedule M-2, and Schedule M-3
- Tax Planning: Understanding the tax planning strategies available to S Corporations and their shareholders, including tax deferral, income shifting, and tax-free reorganizations
Course Materials
| Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (442.7 KB) | Available after Purchase | ||
| IRS Credit Request Form- ONLY COMPLETE FOR IRS CREDIT ONLY (137 KB) | Available after Purchase | ||
| Form 1120S - Preparation and Analysis Handout (625.1 KB) | Available after Purchase | ||
| Form 1120S (52.3 KB) | Available after Purchase | ||
Faculty
Arthur Werner Related Seminars and Products
Werner-Rocca Seminars, Ltd.
Arthur Joseph Werner, JD, MS (Taxation), is the president and is a shareholder in the lecture firm of Werner-Rocca Seminars, Ltd. Mr. Werner’s lecture topic specialties include business, tax, financial and estate planning for high net worth individuals. In addition, Mr. Werner is an adjunct professor of taxation in the Master of Science in Taxation program at the Philadelphia University. Mr. Werner received his B.S. in Accounting and his M.S. in Taxation from Widener University. He holds a J.D. in Law from the Delaware Law School.
Mr. Werner lectures extensively in the areas of Estate Planning, Financial Planning, and Estate and Gift Taxation to Certified Public Accountants and Financial Planners, and has presented well in excess of 2500 eight-hour seminars over the past twenty-five years as well as numerous webinars and video presentations. Mr. Werner has been rated as having the highest speaker knowledge in his home state of Pennsylvania by the Pennsylvania Institute of Certified Public Accountants, was awarded the AICPA Outstanding Discussion Leader Award in the State of Nevada, the Florida Institute of CPAs Outstanding Discussion Leader Award, and the South Carolina Association of CPAs Outstanding Discussion Leader Award.
Dates
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Tue, Dec 24, 2024 - 02:00pm to 03:49pm CST
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Tue, Dec 31, 2024 - 11:00am to 12:49pm CST
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Wed, Jan 15, 2025 - 02:00pm to 03:49pm CST
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Sat, Jan 25, 2025 - 09:00am to 10:49am CST
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Tue, Feb 04, 2025 - 11:00am to 12:49pm CST
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Wed, Feb 05, 2025 - 02:00pm to 03:49pm CST
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Wed, Feb 26, 2025 - 02:00pm to 03:49pm CST
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Tue, Mar 11, 2025 - 11:00am to 12:49pm CDT
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Wed, Mar 19, 2025 - 02:00pm to 03:49pm CDT
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Sat, Mar 29, 2025 - 09:00am to 10:49am CDT
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Wed, Apr 09, 2025 - 02:00pm to 03:49pm CDT
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Tue, Apr 15, 2025 - 11:00am to 12:49pm CDT
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Wed, Apr 30, 2025 - 02:00pm to 03:49pm CDT
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Tue, May 20, 2025 - 11:00am to 12:49pm CDT
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Wed, May 21, 2025 - 02:00pm to 03:49pm CDT
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Sat, May 31, 2025 - 09:00am to 10:49am CDT
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Wed, Jun 11, 2025 - 02:00pm to 03:49pm CDT
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Tue, Jun 24, 2025 - 11:00am to 12:49pm CDT
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Additional Info
Basic Course Information
PrerequisitesThis course is designed for individuals who have a basic understanding of cybersecurity and the importance of protecting sensitive data. No prior experience with the IRS Cybersecurity Checklist is necessary.
Advanced Preparation
None
Designed For
CPAs, EAs, attorneys, bankers, and financial planners
Original Recording Date
05/2023
Course Developer
Werner-Rocca Seminars
Date Added to Catalog
3/31/2023
Yellow Book
No
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement
Business Professionals' Network, Inc. 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
Instructional Delivery Method
Group Internet Based
Course Registration Requirements
Online Registration
Refund/Cancellation Policy
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
Promo Video
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