CONTACT THE BUSINESS LEARNING INSTITUTE
Name*
Email Address*
Phone Number:
Message:
Please enter the following text in the box below:
captcha
ADDRESS: 901 Dulaney Valley Road, Suite 800
Towson, MD 21204
PHONE: 888-481-3500
FOLLOW BLI:
Preparing Form 1120S: Understanding the BasicsCOURSE ID: PF0S
DESCRIPTION

The most popular entity type for – “for profit” organizations is the S corporation. This course looks at the issues that arise in the preparation of Form 1120S for an S corporation from the perspective of an accountant who is comfortable with basic business taxation provisions and is preparing the tax return for an S corporation. The course will also provide the core knowledge needed for the CPA to be ready to expand his/her knowledge to assist clients in tax planning that may involve S corporations.

DESIGNED FOR: Accountants who prepare or will be preparing Forms 1120SFIELD OF STUDY: TaxesLEVEL: IntermediatePREREQUISITES: NONECOURSE PRODUCER: Nichols Patrick CPE, IncCREDITS: 8.0OBJECTIVES:
  • The importance of understanding and documenting stock rights and obligations
  • S status election options, including late election relief
  • Separating items to be reported on Page 1 from those reported elsewhere on the Form 1120S
  • Understanding the taxes that may apply to the S corporation itself and how to compute them
  • Computing and reporting the proper pro-rata share of corporate items on shareholders' K1s
  • Be able to determine if the corporation must file Schedule M-3 in lieu of Schedule M-1
  • Computing an S corporation's accumulated adjustment account to report on Schedule M-2 and understand the uses of the AAA account
HIGHLIGHTS:

*What the Accountant Needs to Know Before Preparing the Form 1120S for the Corporation *Preparing Form 1120S Page 1 – Income and Expense from a Trade or Business *Preparing Form 1120S Page 1 – Taxes That May Apply to the S Corporation *Preparing Form 8825 – Reporting Rental Income and Expenses *Preparing Schedules K and K-1 – Shareholders Prorata Items *Preparing Schedules L *Preparing the M Schedules – M-1, M-2 and M-3 *Preparing Schedule B and Other S Corporation Issues

INSTRUCTOR
-TBD-
Download the 2016 Business Learning Institute Course Catalog DOWNLOAD PDF
Business Learning Institute - Course Catalog
SUBSCRIBE TO THE BLI BLOG