Form S-Corp Education and Training

Get training and education to form and manage an S-Corp company

There are some things you need to know before you form S-Corp. Education and training starts with finding out more about S-Corp formation requirements and benefits. It can also include advanced training to help run an S-Corp, file taxes, or advise others about S-Corp and other incorporation.

An S-Corp is a form of incorporation that divides its income and losses among shareholders, instead of paying an income tax directly. They have the same liability protection as businesses that are organized into a partnership. There are several requirements that a company must meet to organize as an S-Corp, such as shareholder limits and characteristics. Corporations also have deadlines each year to file as an S-Corp.

There are other regulations that S-Corps must follow, including additional tax regulations. In some states and localities, including California and New York City, S-Corps must pay additional taxes. To get more knowledge about the formation of S-Corp businesses, do the following:

1. Find out more about the formation of S-Corp companies through articles and online guides.

2. Get books and worksheets that thoroughly explain S-Corp and other types of business organizing.

3. Enroll in advanced training to learn more about running an S-Corp and filing taxes.

 

Get information from a form S-Corp provider or adviser

If you think your business is ready to go to S-Corp filing, read up on some of the requirements, benefits and drawbacks before making a decision. There is a wealth of basic information available online.
Try: First, get S-Corp information, including requirements and filing information, from the Internal Revenue Service. CPA-Resource, a division of Lorman Business Center, lists articles and information about S-Corp formation. The Company Corporation and NOLO also provide general facts and information about S-Corporations.

Read books about form S-Corp information

Choose a book when you want to do a more thorough analysis without enrolling in courses. Find one that gives the pros and cons of different types of business formations and includes worksheets and legal information.
Try: Choose the "Ultimate Book on Forming Corporations, LLCs, Sole Proprietorships and Partnerships," which offers tips and information from an experienced attorney. It’s available from Entrepreneur Press. Barrister Books offers "Incorporate Your Business: A Legal Guide to Forming a Corporation in Your State."

Enroll in advanced training to form or run an S-Corp company

Advanced training in business and taxes can be a boon to anyone who plans to run or advise and S-Corp. Besides standard business training at colleges and universities, many organizations provide online training. Self-paced courses are a good alternative for people who are busy running a business.
Try: MicroMash offers online courses about taxes and incorporation. Distance-Education provides search options and directories to help prospective students find the right business training programs. The site also includes a forum and other tools. WorldWideLearn offers courses for those interested in starting a business. H&R Block offers advanced tax training online courses for business owners and tax preparers. The Small Business Administration offers free online courses for business development and tax training.

 

• Remember to stay up to date on filing and eligibility requirements for your S-Corp company. The IRS may change requirements from time to time, so it's helpful to do some refresher reading and research every year.

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