October 2024 TAXPRO Exam
1 CPE for AFSP, EA, CRTP
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Summary
According to IRS statistics, S corporations have been the most common corporate entity for the past 30 years. Tax professionals who work with S corporations and their shareholders need a solid grasp of several key concepts, including reasonable compensation, shareholder basis and distribution payments. This article will provide an introduction to the mechanics and implications.
Objectives
Upon completion of this course, you will be able to:
- Identify what increases and decreases a shareholder’s stock basis in an S corporation
- Explain factors that may determine reasonable compensation for a shareholder in an S corporation
Exam Details
Materials will include the Essentials of S Corp Compliance article, printable exam questions for study purposes and the online exam. CPE will be issued after the exam is successfully completed.
Course Year: 2024
Course Level: Basic
Prerequisite: None
Advanced Preparation: None
Deliver Method: QAS Self Study
| CPE Credits | Designation | Field of Study |
|---|
| IRS | 1 | AFSP | Federal Tax Law Topic |
| IRS | 1 | EA | Federal Tax Law Topic |
| NASBA | 1
| CPA | Taxes
|
| CTEC | 1 | CRTP | Federal Tax Law Topic |
| CFP Board | 0 | CFP® | N/A |
How to Earn CPE
To receive credit for this article and exam, you must successfully pass the course exam with a score of 70% or better. We also recommend completion of the review questions and feedback provided with the article.
The course and exam will expire one year from the date of purchase.
Registration/Cancellation Policy
You must be a current Professional or Premium level member to register for this exam. To access this member benefit, register before October 2025. You have one year from registration to complete the course to earn CPE. Because this is an online education offering, it is nonrefundable.
