Understand the intricacies of the ever-popular S corporation form of doing business and consider the tax effect that various types of S corporation distributions will have on the corporation’s shareholders. Updated for the latest guidance on recently enacted tax legislation, this course examines planning and reporting successful complex S corporation transactions. The uses of Qualified Subchapter S Subsidiaries are also explored to help you minimize your client's tax bill with winning strategies related to this type of entity.
DESIGNED FOR
Managers and partners in public accounting firms, CPA sole proprietors specializing in taxation of S corporations,
Tax planning professionals
BENEFITS
- Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
- Calculate gain and loss on the distribution of property.
- Identify the rules concerning fringe benefits received by S corporation shareholder-employees.
- Apply the corporate reorganization rules to S corporations.
- Calculate the tax effect of a redemption of S corporation stock.
- Apply the rules relating to Qualified Subchapter S subsidiaries.
HIGHLIGHTS
S corporation current developments: tax planning impact
Compensation planning
Basis in S corporation stock
Distributions
Use of qualified subchapter S subsidiaries
Liquidations, reorganizations, and redemptions
Estate planning and use of trustsCOURSE LEVEL
Advanced
PREREQUISITES
Basic knowledge of S corporation taxation