This course takes a look at deductions that may be available to the corporation, including officers' compensation, salaries and wages paid to employees, and repair and maintenance expenses. In addition, it discusses the deductibility of bad debts, rents, taxes, and interest. It also reviews depreciation methods, the luxury auto rules, the IRC Sec. 179 expensing election, cost and percentage depletion, advertising expenses, as well as pension and profit-sharing plans, employee benefit programs, amortization of start-up costs, and expenses subject to the deduction limitation rules. This intermediate level course is most appropriate for the professional with detailed knowledge in S corporation taxation who may be at a mid-level position within an organization with operational or supervisory responsibilities, or both.

By proceeding to the examination, you acknowledge and confirm that you have completed the required coursework.