S Corporation Income Tax – Form 1120S
S Corporation Income Tax – Form 1120S, available at $94.99, has an average rating of 4.54, with 22 lectures, based on 427 reviews, and has 29120 subscribers.
You will learn about How to enter tax data for an S Corporation into form 1120S How to use tax software to input an S Corporation tax return How to use an Excel worksheet to support tax data input for an S corporation How to enter and track Schedule K adjustments How to enter and track M-1 adjustments How to enter and review data for Form K-1 Comparison of Social Security and Medicare tax between an S Corporation and Schedule C Sole Proprietorship This course is ideal for individuals who are Tax professionals or Business owners considering a S Corporation form of business entity or Tax and accounting students It is particularly useful for Tax professionals or Business owners considering a S Corporation form of business entity or Tax and accounting students.
Enroll now: S Corporation Income Tax – Form 1120S
Summary
Title: S Corporation Income Tax – Form 1120S
Price: $94.99
Average Rating: 4.54
Number of Lectures: 22
Number of Published Lectures: 22
Number of Curriculum Items: 22
Number of Published Curriculum Objects: 22
Original Price: $199.99
Quality Status: approved
Status: Live
What You Will Learn
- How to enter tax data for an S Corporation into form 1120S
- How to use tax software to input an S Corporation tax return
- How to use an Excel worksheet to support tax data input for an S corporation
- How to enter and track Schedule K adjustments
- How to enter and track M-1 adjustments
- How to enter and review data for Form K-1
- Comparison of Social Security and Medicare tax between an S Corporation and Schedule C Sole Proprietorship
Who Should Attend
- Tax professionals
- Business owners considering a S Corporation form of business entity
- Tax and accounting students
Target Audiences
- Tax professionals
- Business owners considering a S Corporation form of business entity
- Tax and accounting students
This course currently consists of a comprehensive problem showing the data input process of an S Corporation tax return into Form 1120S.
This course will put together a systematic format of entering data into a Form 1120S that will minimize errors, isolate problems as they happen, and remove the possibility of having to start the process all over again.
We will enter each M-1 adjustment individually into both the tax return and an Excel worksheet so that we fully understand how they work.
We will start by reviewing the data for the comprehensive problem.
Then we will enter the data into an Excel worksheet that will be used to help us organize the information.
We will be using Lacerte Tax software to enter the tax data into Form 1120S. However, we will also provide PDF files of the tax forms so learners can enter the data directly into the tax forms as we go. The tax forms can also be found on the IRS website.
The course will demonstrate how to enter the data into the tax forms in stages to reduce potential mistakes and to identify mistakes as they happen so they can be fixed as easily as possible.
We will start the data input with the balance sheet.
Then we will enter the income statement as it is formatted in the adjusted trial balance.
Next, we will systematically go through Schedule K and M-1 adjustments. We will isolate these adjustments, reviewing them on the tax forms, in the software, and using our Excel worksheet.
We will then review the tax forms.
Next, we will review the Form K-1s and basic calculations.
The course will demonstrate the exporting of the K-1 Form to the individual Form 1040 for an owner of the S corporation.
Course Curriculum
Chapter 1: Comprehensive Problem
Lecture 1: Introduction
Lecture 2: Documents To Download
Lecture 3: C1 S Corp Comprehensive Problem Part 1 Review Data
Lecture 4: C2 S Corp Comprehensive Problem Part 2 Worksheet
Lecture 5: C3 S Corp Comprehensive Problem Part 3 Information Data Input
Lecture 6: C4 S Corp Comprehensive Problem Part 4 Data Impute Balance Sheet
Lecture 7: C5 S Corp Comprehensive Problem Part 5 Data Impute Income Stmt.
Lecture 8: C6 S Corp Comprehensive Problem Part 6 Data Impute Distributions
Lecture 9: C7 S Corp Comprehensive Problem Part 7 Sch. Depreciation
Lecture 10: C8 S Corp Comprehensive Problem Part 8 Sch. K Adj Div & Int
Lecture 11: C9 S Corp Comprehensive Problem Part 9 Sch. K Charity Donation
Lecture 12: C10 S Corp Comprehensive Problem Part 10 M-1 Tax Exempt Interest
Lecture 13: C11 S Corp Comprehensive Problem Part 11 Officer Compensation
Lecture 14: C12 S Corp Comprehensive Problem Part 12 M-1 Meals
Lecture 15: C13 S Corp Comprehensive Problem Part 13 M-1 Bad Debt
Lecture 16: C14 S Corp Comprehensive Problem Part 14 COGS
Lecture 17: C15 S Corp Comprehensive Problem Part 15 Sch. K & M-1
Lecture 18: C16 S Corp Comprehensive Problem Part 16 K-1
Lecture 19: C17 S Corp Comprehensive Problem Part 17
Lecture 20: C18 S Corp Comprehensive Problem Part 18 Diagnostics
Lecture 21: C19 S Corp Comprehensive Problem Part 19 Sch K To Form 1040
Chapter 2: Social Security and Medicare Taxes
Lecture 1: S Corp Compared to Sch. C FICA Taxes
Instructors
-
Robert (Bob) Steele
CPA, CGMA, M.S. Tax, CPI
Rating Distribution
- 1 stars: 6 votes
- 2 stars: 10 votes
- 3 stars: 42 votes
- 4 stars: 113 votes
- 5 stars: 256 votes
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