Professionals gain the skills needed to navigate S corporation matters confidently with this bundle of S corporation and small business courses. **This product has been updated to reflect changes under H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act or OBBBA.** S corporation taxation, from basic to advanced You’ll learn both basic and advanced S corporation concepts. You also learn to apply those concepts during tax planning to reduce taxes for small business clients. Courses in this series include: - S Corporations: Key Issues, Compliance, and Tax Strategies, a basic-level course - Advanced Tax Planning S Corporations, an advanced-level course - Tax Planning for Small Businesses, an intermediate-level course Step back and assess the S corporation status Not all entities are fit for S corporation status. Through the series, you encounter situations where the S corporation election is and is not advantageous for a business. You also learn: - Requirements to elect S corporation status - Ongoing requirements to maintain S corporation status - Termination of S corporation status, voluntarily or involuntarily The course also discusses core matters related to S corporations: - Compensation to shareholder-employees - Pass-through income and distributions - Basis - Passive losses - Fringe benefits Who Will Benefit Tax professionals seeking in-depth training on S corporation income taxes Key Topics - Advantages and disadvantages of S corporations - S corporation tax on built-in gains - S corporation distributions - Basis in S corporation stock - Qualified subchapter S subsidiaries - Section 199A and the qualified business income deduction - Reasonable compensation - Depreciation, Section 179, and bonus depreciation Learning Outcomes - Recognize the advantages and disadvantages of S corporation status. - Identify shareholder consent rules and causes of invalid elections. - Recognize events causing involuntary termination. - Recognize when an S corporation is subject to tax at the entity level. -Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders. - Apply the rules relating to qualified Subchapter S subsidiaries (QSubs). - Differentiate the advantages available for small businesses based on entity type. - Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.