Hands-On Training

Gain practical experience in preparing S Corporation tax returns using Drake Tax Software

Comprehensive Problem Solving

Learn effective problem-solving techniques specific to S Corporation tax filing

Pre-sale Access

Get ahead with early access to the 2025 tax software release and start mastering S Corporation tax filing today

About the Course

Join our comprehensive course to learn how to confidently prepare S Corporation business tax returns using Drake Tax Software. Get a head start with pre-sale access to the 2025 tax software release and receive free instant access to the 2024 tax year course. Gain hands-on training and master problem-solving techniques specific to S Corporation tax filing. Enroll now and take your tax filing skills to the next level!

Kateryna’s Story: From Burnout to Freedom with a 6-Figure Seasonal Tax Business

I know what it’s like to be exhausted—working all day just to survive, studying at night, running on caffeine and hope.  For years, I woke up before sunrise to start my shift, then rushed straight to class in the evening, only to stay up late doing homework. I was tired. But I had a dream. Eventually, I earned my CPA license. I worked in the music industry, then at one of the Big Four firms—Ernst & Young—preparing complex tax returns for major clients. It was valuable experience, but deep down, I wanted something more: Freedom. Flexibility. My own business. So I left. I’ve now been self-employed for 5 years, working only during tax season—and taking the rest of the year for myself. Tax preparation gave me the life I dreamed of. If you’re tired but still dreaming—this is for you

Curriculum

5 Chapters · 29 Lessons

  1. 1

    Module 1 - Business Structures

    1. (Included in full purchase)

      Chapter 1.1 - Introduction to the Course Structure

    2. (Included in full purchase)

      Chapter 1.2 - History of S Corps - Why tax prep saves the world, enhances economy, importance of taxes

    3. (Included in full purchase)

      Chapter 1.3 - Differences between C-Corps, S-Corps, Partnerships and LLCs

    4. (Included in full purchase)

      Chapter 1.4 - Advantages and Disadvantages of S Corporations :Qualifications for S Corporation Status

    5. (Included in full purchase)

      Chapter 1.5 - S Corporation Election

    6. (Included in full purchase)

      Module 1 - Quiz

  2. 2

    Module 2 - Tax Forms

    1. (Included in full purchase)

      Chapter 2.1 - Form 1120S, Page 1 : Income and Deductions, Taxes and Payment

    2. (Included in full purchase)

      Chapter 2.2 - Schedule B: Other Information

    3. (Included in full purchase)

      Chapter 2.3 - Schedule K: Shareholders’ Pro Rata Share Items

    4. (Included in full purchase)

      Chapter 2.4 - Schedule L - Balance Sheet : Reconciliation and Distributions

    5. (Included in full purchase)

      Chapter 2.5 - Schedule M-1 - Reconciliation of Income (Loss) per Books with Income Tax Return

    6. (Included in full purchase)

      Chapter 2.6 - Schedule M-2 - Analysis of Accumulated Adjustments Account

    7. (Included in full purchase)

      Chapter 2.7 - Schedule M-3 - Expansion of the information provided on Schedule M-1

    8. (Included in full purchase)

      Module 2 - Quiz

  3. 3

    Module 3 - PRACTICE (Simple S Corporation Example)

    1. (Included in full purchase)

      Chapter 3.1 - Overview of Drake Tax - Installation and Functionalities

    2. (Included in full purchase)

      Chapter 3.2 - Understanding S-Corporation Structure & Documents (Before Form 1120S)

    3. (Included in full purchase)

      Chapter 3.3 - Entering a Basic S Corp Tax Return - Form 1120S, Page 1 (Income Statement)

    4. (Included in full purchase)

      Chapter 3.4 - Entering a Basic S Corp Tax Return - Schedule L (Balance Sheet)

    5. (Included in full purchase)

      Chapter 3.5 - Reconciliation of Income (Loss) per Books with Income Tax Return

    6. (Included in full purchase)

      Practice - Module 3

  4. 4

    Module 4 - Comprehensive Problem

    1. (Included in full purchase)

      Not Available - Chapter 4.1 - PRACTICE - Entering Data (Review Data, Excel Worksheet, Prior Year Tax Return, Beginning Balances, Depreciation, Capital Loss Carryovers, Other Carryovers)

    2. (Included in full purchase)

      Not Available -- Chapter 4.2 - PRACTICE - Entering Income Statement

    3. (Included in full purchase)

      Not Available -- Chapter 4.3 - PRACTICE - Schedule L (Entering Balance Sheet)

    4. (Included in full purchase)

      Not Available - Chapter 4.4 - PRACTICE - Reconciliation of Income (Loss) per Books with Income Tax Return

    5. (Included in full purchase)

      Not Available - Chapter 4.6 - PRACTICE - Sch K To Form 1040

    6. (Included in full purchase)

      Answers

  5. 5

    Module 5 - Do-It-Yourself Comprehensive Problem with Answers - Check Yourself Video & Encouragement

    1. (Included in full purchase)

      Documents for Exercise

    2. (Included in full purchase)

      Available 01/25 - Chapter 5 - Do-It-Yourself Comprehensive Problem with Answers - Check Yourself Video & Encouragement

    3. (Included in full purchase)

      Answers

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