Advanced Tax Planning S Corporations

Overview

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.

In this CPE self-study course, you will learn about planning and reporting successful complex S corporation transactions. Updated for the tax reform of the Tax Cuts and Jobs Act, this course also explores the uses of qualified subchapter S subsidiaries to help you minimize your client’s tax bill with winning strategies related to this type of entity.

Highlights

Basis in S Corporation Stock Liquidations, Reorganizations, and Redemptions Estate Planning and the Use of Trusts Section 199A

Designed For

Managers and partners in public accounting who assist clients with tax planning for S Corporations

Objectives

Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders. Calculate the basis limitations on losses. Apply the rules for cash distributions. Calculate gain and loss on the distribution of property. Identify the distribution ordering rules when an S Corporation has accumulated earnings andprofits (AE&P). Identify the rules concerning fringe benefits received by S corporation shareholder-employees. Apply the rules relating to qualified subchapter S subsidiaries (QSubs). Recognize when QSubs should be used. Identify the rules relating to the liquidation of an S corporation. Apply the corporate reorganization rules to S corporations. Calculate the tax effect of a redemption of S corporation stock. Recognize the eligibility of trusts as S corporation shareholders. Determine the effect of a shareholder’s death on the S corporation.

Notice

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