This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know. Even if you have attended other S corporation courses, you will learn something new in this course.
DESIGNED FOR
All practitioners and controllers who have attended a basic S corporation course and want to understand more complex issues and their practical implications.
BENEFITS
- Final regulations on “eligible terminated S corporations” (ETSCs)
- Cases, rulings, and tax law changes affecting S corporations
- Compensation planning in S corporations, including limitations in a family-controlled business; self-employment tax issues, including IRS efforts to address underreporing of S corporation officer compensation
- Use of redemptions: still some advantages
- Planning for the liquidation of an S corporation
- Tax issues for family ownership of S corporation stock
- Impact of the tax on net investment income on sales of S corporation stock
- Stock basis: Loss limitations, AAA, and distribution issues in depth
- Debt basis: what the regulations on back-to-back loans mean to investors
- Estate planning for S corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance
- Built-in gains: the 5-year recognition period
- S corporation structuring: one class of stock
- Methods of accounting
- Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates
HIGHLIGHTS
- Understand how stock basis, AAA, and other limitations are determined
- Appreciate how corporation planning can be used in an S corporation to change the effects of the one-class-of-stock rule
- Understand what S corporation issues are being debated with the Service, settled in courts, and guided by administrative decisions
COURSE LEVEL
Advanced
PREREQUISITES
A basic course in S corporations; some experience in advising S corporations and their shareholders
ADVANCE PREPARATION
None
ADDITIONAL NOTES
- This seminar qualifies for CFP credit.
- This seminar qualifies for IRS credit.
Please call Surgent Help, 800-778-7436, if you need a EA/IRS or CFP CPE Certificate.