Advantages and Disadvantages of Electing to be Taxed as an S-Corporation 

Includes a Live Event on 12/10/2015 at 2:00 PM (EST)

S-Corporations continue to be the most popular entity for a small business. Is it the best choice for your client?

In this session, we will cover the tax advantages and disadvantages of electing to be taxed as an S-Corporation. You will better understand issues such as: the built in gains tax; NIIT, double taxation; flow through; insufficient basis and at-risk rules; debt basis; fringe benefits; distributions vs payroll; dividends; small business stock sale; one class of stock; inability to make special allocations; limited shareholders; limited liability; perpetual life; strict administration and avoiding accumulated earnings tax.

We will present scenarios and provide resources you need so you can be confident when you meet with your client.

Learning Objectives:

• Upon completion of this course, you will be able to:
• Define the advantages of being taxed as an S-Corp
• Recognize the difference of taxation as a S-Corp compared to a C-Corp
• Discuss how profit distributions and payroll are taxed in a S-Corp
• Determine if this is a good tax entity choice for your client
• Explain how to make the S-Corp election

NASBA CE: 1 Hour/Taxes
IRS CE: 1 Hour/Federal Tax Law

Presented by Kathy Hettick, EA, ABA, ATP and Gene Bell, EA, ATA, CFP

NSA ConnectED Webinar Series
Program Level: Basic
Prerequisites: None
Advance Preparation: None
Delivery Method: Group-Internet Based

No refunds or exchanges for cancellations. For more information regarding refund, complaint and/or program cancellation policies, please contact NSA toll-free at 800-966-6679.

NSA is approved by NASBA, the IRS, ACAT, and CTEC as a provider of continuing professional education.

The National Society of Accountants 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.learningmarket.org.

NSA has been approved by the California Tax Education Council to offer the above courses to go towards the annual "continuing education" requirement imposed by the state of California. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone at (877) 850-2832, or on the Internet at www.ctec.com.