Business Entities

Understand how to address taxation, basis, and reporting issues for C corporations, S corporations, partnerships, and exempt organizations.

  • Our courses are valid for CPAs, EAs, and tax preparers in all 50 states!
  • AFSP/IRS and CTEC approved.
  • Average satisfaction rating for our courses is 4.95 out 5.


CPE/CE Hours: 4 Credit Hours. One 50-minute period equals one CPE/CE Credit Hour.
Start Ship Date: 9/15/2016
Price: $49
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How it Works

  • Study guide will be mailed to you.
  • Read and review the course. When ready, complete your final exam in the Education Center Online.
  • After achieving a passing grade, print your certificate of completion. Results are regularly uploaded to the IRS and CTEC.
  • Note: Final exam can be completed up to one year from time of shipment.

Course Overview

This course provides continuing professional education for tax professionals to address taxation, basis, and reporting issues for C corporations, S corporations, partnerships, and exempt organizations. Problems with organization and administration of these business entities are examined by use of court decisions that illustrate how tax rules apply in real-life situations, with focus on distributions from the business entity to individuals with an ownership interest.

Valid in all 50 States

Our courses are valid for CPAs, EAs, and tax preparers in all 50 states! (More)

National Registry of CPE Sponsors QAS California Tax Education Council Internal Revenue Service

Additional Course Information

Coming soon!

Learning Objectives

Chapter 1: C Corporations
  • Define requirements for nontaxable transfers to corporations under IRC section 351.
  • Determine how recent court decisions affect treatment of loan disbursements and repayments to C corporations.
  • Determine whether distributions from C corporations are taxable or nontaxable.

Chapter 2: S Corporations
  • File Form 2553, Election by a Small Business Corporation, and apply the proper Revenue Procedure to request relief for a late election.
  • Compute taxable income from S corporation distributions and determine the effect on a shareholder’s stock basis.
  • Recognize the potential of S corporation termination because of shareholder revocation, failure of qualification, or violation of passive income restrictions.

Chapter 3: Partnerships
  • Identify separately stated items of partnership income or loss and report those items properly on Schedule K-1, Form 1065, U.S. Return of Partnership Income.
  • Identify recourse and nonrecourse liabilities and determine the effect on a partner or LLC member’s ownership basis.
  • Determine gain or loss on current distributions or liquidating distributions made to a partner or LLC member.

Chapter 4: Exempt Organizations
  • Determine whether an entity qualifies as a tax-exempt organization under Internal Revenue Code section 501(c)(3), based on organizational structure, operation, and purpose.
  • Identify the filing requirements and required disclosures for a tax-exempt organization.
  • Identify unrelated business income and requirements for filing Form 990-T, Exempt Organization Business Tax Return.

Excellent Courses at Low Prices

You will enjoy our courses! In fact, the average satisfaction rating for our courses is 4.9 out 5. It is our passion to provide the best courses at the best prices.

Course Option Retail Price Price Per Hour
20 Online Credit Hours - Best Value! $159.00 $7.95
8 Online Credit Hours $89.00 $11.13
1 Online Credit Hour $16.00 $16.00
4 Hour Printed Course $49.00 $12.25
3 Hour Printed Course $45.00 $15.00
2 Hour Printed Course $38.00 $19.00

Compare Print to Online

Determine which format you prefer.

Online Print
Study Guide Format PDF Format - print yourself or review online. Study guide will be mailed to you.
Course Options Use your credit hours to complete any CPE/CE course. Select courses available in print.
Course Availability Available immediately! New courses released throughout the year. New courses are released yearly in September.
Grading Final exams are completed online. No extra charges for grading.

"The courses are laid out very well."
Paul Detrick
Carlisle, PA

"Keep up the good work."
Robert Hearn
Los Altos, CA

"Thank you! Material was easy to read and understand."
Lisa Markwith
Redding, CA

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