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S Corporations' Converting to C Corporation 4173334A
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Electing S corporations may find it desirable or necessary to terminate the S corporation election converting to a C corporation. This course considers situations when such a conversion is desirable. Tax planning opportunities and complications at conversion are identified and discussed. Limitations on re-electing S corporation status are discussed and evaluated. Recent and/or pending legislation will be considered.

8/21/2017
When: 11:00 AM to 1:00 PM
Where: Webcast
CALCPA
4173334A
United States
Presenter: John G. McWilliams, CPA, JD
Contact: April Deneault
801-466-10328


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

NASBA Credit Category:  Taxes

CPE Hours:  2

Description

Electing S corporations may find it desirable or necessary to terminate the S corporation election converting to a "C corporation. This course considers situations when such a conversion is desirable. Tax planning opportunities and complications at conversion are identified and discussed. Limitations on re-electing S corporation status are discussed and evaluated. Recent and/or pending legislation will be considered.

Materials are provided as an ebook for this course.



Major Subjects

  • Reasons to terminate an S corporation election
  • Involuntary terminations
  • Voluntary revocations the process and the consequences
  • Tax planning opportunities related to termination of S corporation status
  • Complications arising from a mid-year termination
  • Limitations on re-electing S corporation status
  • Recent or proposed legislation affecting decision to terminate the S corporation election

Objectives

  • Discuss and analyze situations where terminating an S corporation election could be desirable.
  • Consider common situations where S election may involuntarily terminate.
  • Understand the process and tax planning opportunities related to a voluntary revocation.
  • Evaluate complication related to mid-year termination of S corporation status.
  • Discuss and evaluate limitations on re-electing S corporation status.
  • Consider recent and proposed legislation which could affect the decision to terminate the S corporation election

Level:  Overview

Designed For

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

Advanced Prep:

None.

Prerequisite

Understanding the basics of taxation of corporations, S corporations and partnerships.

Price:

Members: $60

Nonmembers: $94

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