Corporate Tax Planning: Strategies and Ideas

Description

Review a variety of tax subjects to effectively use a corporation to conduct a business. Cover information with regard to deciding to make or not make an S corp election. Determining how to minimize double taxation while benefitting from lower corporate tax rates. Review topics such as the sale of the corporate business, stock redemptions, transfers of assets for stock, the risk of imposition of the personal holding company tax, and the accumulated earnings tax.

Highlights

• Taxation of corporations and shareholders: potential double tax.
• Tax-deductible payments to avoid double tax.
• Non-liquidating distributions, including constructive dividends.
• Corporation and shareholder partnerships: lessening double tax.
• Sales of corporate businesses.
• Making or terminating the S corp election.
• Stock sales using Section 1045, 1042 or 1202.
• Losses on stock dispositions.
• Tax planning using redemptions.
• Risk of personal holding company or accumulated earnings tax.
• Transfers of property for stock: Section 351

Objectives

• Identify the schemes used to misstate revenue, inventory, asset overstatements, estimates, and other accounts
• Distinguish suspicious journal entries
• Recognize the red flags associated with fraud schemes concerning revenue, inventory, asset overstatements, estimates, and other accounts
• Apply analytical procedures to detect various types of fraud
• Compare particular fraud schemes to landmark cases

Designed For

CPAs, attorneys and tax practitioners.