Intro to S-Corps

"Intro to S-Corps" is a digital training course tailored for tax professionals to understand the ins and outs of S-Corporations. This course covers the essential concepts of S-Corps, including who qualifies, how they are taxed, and the benefits of electing S-Corp status. It delves into critical aspects such as reasonable compensation for shareholders, the flow-through taxation method, and the avoidance of double taxation. The course also highlights common IRS red flags, proper filing procedures using Form 1120-S, and how to avoid penalties from late elections. This training ensures tax professionals can confidently guide clients through the process of electing S-Corp status and managing the associated tax filings.