
This program examines when the S corporation election is financially and structurally appropriate for a closely held business. Participants analyze the payroll-tax arbitrage between self-employment tax and FICA, the §199A deduction, the recurring compliance-cost stack, and break-even income thresholds. The program applies these principles through worked entity-comparison examples, reasonable-compensation standards, shareholder basis and Form 7203, state-level taxes, and structural disqualifications affecting the S-corporation decision.
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*Self-Study recording available for IRS CE Credit only (NO CPE)
NASBA Field of Study: Taxes
IRS Program #: 7Q3WU-T-00957-26
CTEC Course #: 6248-CE-00310

John began his tax career in 1987 and passed the IRS Special Enrollment Exam in 1995. A National Tax Practice Institute fellow and SUNY Oswego graduate, he specializes in taxation for non-resident aliens, U.S. citizens living abroad, S corps, legal marijuana businesses, and cryptocurrency.
John is passionate about giving back to the profession. Every year on Giving Tuesday, Tax Practice Pro offers a free ethics webinar, and its weekly Tax Update webinars keep tax professionals informed on the latest developments. These programs combine practical guidance, strategies, and insights to help practitioners work smarter, faster, and with confidence.
Whether you’re just starting your career or expanding an established practice, Tax Practice Pro and John Sheeley, EA provide the education, coaching, and community support tax professionals need to succeed.