S Corporation (Form 1120S) – Formation to Liquidation
Total Credits: 8 including 8 Taxes - Technical
- Average Rating:
- 23
- Categories:
- ACPEN Industry Institute | Tax | ACPEN Tax Institute | IRS Approved
- Faculty:
- J. Patrick Garverick, CPA, MT, CFP®
- Course Levels:
- Intermediate
- Duration:
- 8 Hours
- License:
- Product Setting: Expires 30 day(s) after program date.
Description
With the increasing complexity and ever-changing nature of tax laws and issues, today’s accountant needs a S corporation course focusing on the birth, growth, maturity, and death of a closely held S corporation. This case driven course will deal with S corporation income tax laws from formation to liquidation.
**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- Form a S corporation and calculate the entity’s initial inside basis in the assets and shareholder’s stock basis
- Understand the operational issues during the growth and maturity of a S corporation and how the schedule K items get allocated to the shareholders on their individual Schedule K-1 effecting stock and debt basis
- Prepare a Schedule M-2 and determine how distributions are treated to the shareholders
- Comprehend the tax ramifications of liquidating a S corporation and the sale versus redemption of a shareholder’s stock
Major Subjects
- Extensive review of the S corporation tax laws with an emphasis on any new legislative changes
- Requirements to make an S election (i.e., types and numbers of shareholders and second class of stock issues)
- Fixing late S corporation elections (i.e., Form 2553)
- S corporation formation (§351) and liquidation issues
- Revocation and termination of S corporations
- Schedule K and K-1 – separately stated versus non-separately stated income and expense items
- Detailed Schedule K-1 reporting including the 20% qualified business income (QBI) deduction and 3.8% net investment income tax
- Compensation issues including the tax treatment of fringe benefits
- Built in gains tax and other planning opportunities when converting a C to S corporation
- Preparation of the Schedule M-2 and the ordering rules for distributions out of the AAA, PTI, E&P and OAA accounts
- Tax treatment of stock redemptions (sale or distribution?)
Course Materials
| Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (442.7 KB) | Available after Purchase | ||
| irs-ce-credit-request-form_2023_S Corporation (156.5 KB) | Available after Purchase | ||
| STFL Copyright & Participant Instructions - PLEASE READ & PRINT (3.2 MB) | Available after Purchase | ||
| STFL eBook (7 MB) | Available after Purchase | ||
Faculty
J. Patrick Garverick, CPA, MT, CFP® Related Seminars and Products
Pat Garverick is a Certified Public Accountant who currently lives in the Phoenix, Arizona area. He began his career in public accounting in 1988 after obtaining his Bachelor of Science in Business Administration (BSBA) in Accounting from The Ohio State University. After receiving his Master of Taxation (MT) degree from Arizona State University in 1992, Mr. Garverick began operating his own tax and financial planning business. He also started writing, reviewing, and teaching tax and financial planning continuing professional education courses around the country.
In addition to being a CPA, Pat is also a Certified Financial Planner (CFP®). This role serves to enhance the knowledge he brings as he writes and presents continuing education material. Mr. Garverick is a member of the Arizona Society of Certified Public Accountants, and the American Institute of Certified Public Accountants. Pat has presented continuing education sessions throughout the country and has won awards for both his skills as an instructor as well as for the content he has created. His knowledge, expertise, and high energy have made him one of the profession’s most highly rated speakers. He is in a very small group of instructors that are both extremely knowledgeable and interesting.
During his time in college Pat earned a letter as a member of the Ohio State Basketball squad. He remains a stanch supporter of the sports programs at his alma mater.
Dates
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Thu, Apr 03, 2025 - 07:00am to 02:37pm PDT
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Tue, May 06, 2025 - 07:00am to 02:37pm PDT
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Fri, Jun 06, 2025 - 07:00am to 02:37pm PDT
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Thu, Jul 10, 2025 - 07:00am to 02:37pm PDT
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Wed, Aug 06, 2025 - 07:00am to 02:37pm PDT
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Thu, Sep 18, 2025 - 07:00am to 02:37pm PDT
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Mon, Oct 06, 2025 - 07:00am to 02:37pm PDT
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Thu, Nov 06, 2025 - 07:00am to 02:37pm PST
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Thu, Dec 11, 2025 - 07:00am to 02:37pm PST
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Tue, Jan 06, 2026 - 07:00am to 02:37pm PST
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Fri, Feb 06, 2026 - 07:00am to 02:37pm PST
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Fri, Mar 06, 2026 - 07:00am to 02:37pm PST
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Mon, Apr 06, 2026 - 07:00am to 02:37pm PDT
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Wed, May 06, 2026 - 07:00am to 02:37pm PDT
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Additional Info
Basic Course Information
Prerequisites Background in S corporation and individual income tax lawAdvanced Preparation Background in individual and business income tax law
Designed For Tax professionals (in public or private industry) seeking a case driven income tax return course addressing many common, yet complex Federal S corporation issues and problems
Original Recording Date 08/2023
Course Developer The Tax U
Date Added to Catalog 08/26/2023
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.
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