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S Corporations: The Fundamentals and More 4173118B
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This course considers a wide range of topics related to S corporations with the purpose of creating or refreshing a solid foundation of knowledge in this specialized area of the tax law. Consider the requirements to elect S corp status, the process of electing and the consequences of the election. Also, discuss the decision to elect or terminate and the sale of the corporate business which create valuable insights and perspective for more advanced S corp study in the future.

8/7/2017
When: 9:30 AM to 5:00 PM
Where: Webcast
CALCPA
4173118B
United States
Presenter: John G. McWilliams, CPA, JD
Contact: April Deneault
801-466-10278


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Curriculums:   Business and Corporate Taxation,Financial Leadership Forum,Business and Industry

NASBA Credit Category:  Taxes

CPE Hours:  8

Description

This course considers a wide range of topics related to S corporations with the purpose of creating or refreshing a solid foundation of knowledge in this specialized area of the tax law. Consider the requirements to elect S corp status, the process of electing and the consequences of the election. Also, discuss the decision to elect or terminate and the sale of the corporate business which create valuable insights and perspective for more advanced S corp study in the future.

Materials are provided as an ebook.



Major Subjects

  • Tax consequences of an S corp election.
  • Qualification requirements to make and maintain an S corp election.
  • Filing the S corp return.
  • Allocation of corporate results to the shareholders.
  • Adjustments to the basis of the stock of an S corp.
  • Limitations on deducting S corp losses.
  • Tax consequences of distributions to shareholders.
  • Tax planning related to S corp elections or terminations.
  • Sale of an S corp business: the basics.

Objectives

  • Determine tax consequences of making the S corp election to the corporation and shareholders.
  • Recall requirements that must be satisfied to elect and maintain S corp status.
  • Determine how to make an effective S corp election.
  • Determine the income and stock basis effect of allocating corporate level items to the shareholders.
  • Identify situations where shareholders could be limited in loss deductions.
  • Identify tax planning opportunities related to election or termination of the S corp status.

Level:  Overview

Designed For

CPAs and attorneys with at least two years of experience advising owners of privately owned businesses.

Advanced Prep:

None.

Prerequisite

Basic understanding of the taxation of corporations, S corps and partnerships.

Price:

Members: $245

Nonmembers: $375

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