Understanding S-Corp Taxation - Compensation Issues & Entity Level Taxes
Available Until
Self-study
2.00 Credits
Member Price $79.00
Non-Member Price $99.00
Overview
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. In this course, we will examine how S-Corporations break away from the normal tax rules for flow-through entities. We will explore which employee benefits are disallowed for S-Corporation shareholders, as well as which taxes are assessed at the entity level. Finally, we will discuss how state level taxation may have changed permanently with the addition of PTE elections!
Highlights
- Reasonable Compensation
- Fringe Benefits for S
- Corp Shareholders
- Built
- In Gains Tax
- Excess Passive Income Tax
- Notice 2020
- 75: PTE Elections
Prerequisites
Basic understanding of tax rules for flow-through entities
Designed For
Tax and financial advisors who have clients who have formed S-Corporations.
Objectives
- Recognize the factors to consider when evaluating the reasonableness of S
- Corp shareholder compensation
- Recall which fringe benefits will result in additional W
- 2 income for S
- Corp shareholders
- Calculate the Built
- In Gains tax and Excess Passive Income Tax
- Identify the federal income tax implications of a PTE election at the state level.
Preparation
None
Notice
This is a self-study/on demand course offered by a 3rd party vendor and will not be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.
Leader(s):
Leader Bios
David Peters, Peters Professional Education LLC
DAVID R. PETERS, CPA, CFP, MST, CPCU, CLU
David Peters is the Founder and Owner of Peters Professional Education and Peters Tax Preparation & Consulting, PC. He is also a financial advisor for Peters Financial, LLC. David has over twenty years of experience in financial services, including 3 years in the hedge fund industry and 14 years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for more than three years.
In addition to running his own professional education website, David is a National Instructor for the AICPA, Surgent, Kaplan, and Don Farmer Tax Seminars. He was a recipient of Surgent's Outstanding Discussion Leader award in 2019 and 2022, as well as the AICPA's Outstanding Facilitator Award in 2021 and 2023. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA's Interim Report, SCACPA's CPA Report, and VSCPA's Disclosures. David was also a co-author of the 2018, 2019, and 2020 Virginia CPA Ethics courses - a required course for all CPA's licensed in the Commonwealth of Virginia.
- Website: www.petersprofessionaleducation.com
- YouTube: www.youtube.com/@DavidPetersFinancial
- LinkedIn Company: https://www.linkedin.com/company/95657499/admin/analytics/updates/
- LinkedIn Personal: https://www.linkedin.com/in/david-peters-financial/
- Facebook: https://www.facebook.com/davidpetersfinancial
- Twitter/X: https://x.com/DavidPFinancial
Non-Member Price $99.00
Member Price $79.00