Advanced Tax Planning S Corporations - Tax Staff Essentials

Overview

A look beneath the surface of S corporation taxation. A discussion of special topics concerning S corporations.

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.

Course Instructor: Deborah Phillips

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 trusts

Prerequisites

Basic knowledge of S corporation taxation

Designed For

Managers and partners in public accounting firms

CPA sole proprietors specializing in taxation of S corporations

Tax planning professionals

Objectives

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.

Notice

This course is provided by a third-party vendor. Please note that login instructions will not be available in the ‘My Upcoming CPE’ section of the NESCPA website. Instead, the login instructions will be sent directly to you via email by AICPA. Upon completing the course, your hours will be recorded in the ‘My CPE Tracker’ section of the NESCPA website.