Advanced Tax Planning: S Corporations

Overview

For those who’ve mastered the basics of the ever-popular S corporation form, this course delves deep into the tax effects that various types of distributions will have on an S corporation’s shareholders. 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

Basis in S corporation stock, Distributions, Compensation planning, Qualified subchapter S subsidiaries, Liquidations, reorganizations, and redemptions, Estate planning and the use of trusts, Section 199A

Prerequisites

Completion of AICPA & CIMA’s course S Corporations: Key Issues, Compliance, and Tax Strategies or equivalent knowledge and experience

Designed For

Managers and partners in public accounting firms - CPA sole proprietors specializing in taxation of S corporations - Tax planning professionals

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 gain and loss on the distribution of property. Apply the distribution ordering rules when an S corporation has accumulated earnings and profits. Evaluate the rules concerning fringe benefits received by and expenses incurred by S corporation shareholder-employees. Apply the rules relating to qualified subchapter S subsidiaries (QSubs). Assess the corporate reorganization rules on S corporations. Calculate the Section 199A deduction.