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. 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.

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 who assist clients with tax planning for S Corporations

Objectives

When you complete this course you will be able to: 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. Apply the corporate reorganization rules to S corporations. Calculate the tax effect of a redemption of S corporation stock. Identify the rules relating to the liquidation of an S corporation. Determine the effect of a shareholder’s death on the S corporation.