1120S Preparation and Planning 2: Business Income, Deductions and Tax Payments (2018 Edition)
Authored by Barbara Weltman, Sidney Kess
About this Course
Topics covered include:
Reviews S corporation income tax return preparation;
The reporting of trade and business income and deductions on Form 1120S.
Upon completing this course, you should be able to:
Correctly report gross receipts and inventory (including the cost of goods sold) on Form 1120S;
Recognize what other income is included in trade or business income;
Correctly report trade or business deductions on Form 1120S;
Describe built-in gains tax issues
Identify when an S corporation may be subject to Income tax;
Describe estimated tax requirements.
1120S Preparation and Planning 1: Tax Fundamentals