Understand the advantages and disadvantages of forming an S Corporation.
Corporations can find the double taxation of income a burden. By qualifying as an S Corporation, the corporation can avoid double taxation. The requirements to elect S Corporation status are specific and must be followed to avoid losing S Corporation status. This topic will help you guide your clients when determining if S Corporation status is the right business structure for their needs, help you prepare the necessary S Corporation election forms and help you prepare the Form 1120-S tax return and accompanying Schedule K-1s.
John T. Alfonsi, CPA/ABV/CFF, CFE, CVA, MST
Cendrowski Corporate Advisors
- Managing director of Cendrowski Corporate Advisors
- Practice is focused on the taxation of high-net-worth individuals and investment entities, including partnerships and S corporations
- Adjunct assistant professor at Walsh College where he teaches courses in their Masters of Science in Taxation program (partnership taxation and tax accounting)
- Recognized valuation and economic damages expert in federal and various state circuit courts
- Frequent speaker for the Michigan Association of Certified Public Accountants on topics covering taxation, business valuation, and forensic accounting
- Member of the AICPA, MICPA, ACFE, NACVA, and MVCA
- M.S. degree in taxation; B.A. degree in business administration, University of Michigan - Dearborn
- Can be contacted at 866-717-1607 or [email protected]
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