Description
This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know. Even if you have attended other S corporation courses, you will learn something new in this course.
Highlights
- The Tax Cuts and Jobs Act of 2017 and summaries of the relevant provisions of the various stimulus acts
- Final regulations on “eligible terminated S corporations” (ETSCs)
- Cases, rulings, and tax law changes affecting S corporations
- Compensation planning in S corporations, including limitations in a family-controlled business; self-employment tax issues
- Use of redemptions: still some advantages
- Planning for the liquidation of an S corporation
- Tax issues for family ownership of S corporation stock
- Impact of the tax on net investment income on sales of S corporation stock
- Stock basis: Loss limitations, AAA, and distribution issues in depth
- Debt basis: what the regulations on back-to-back loans mean to investors
- Estate planning for S corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance
- Built-in gains: the 5-year recognition period
- S corporation structuring: one class of stock
- Methods of accounting
- Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates
Objectives
- Understand how stock basis, AAA, and other limitations are determined
- Appreciate how corporation planning can be used in an S corporation to change the effects of the one-class-of-stock rule
- Understand what S corporation issues are being debated with the Service, settled in courts, and guided by administrative decisions
Designed For
All practitioners and controllers who have attended a basic S corporation course and want to understand more complex issues and their practical implications
Registration for this course has passed.
Course Pricing
WYOCPA Member Fee
$189.00
Non-Member Fee
$246.00
Your Price
$246.00
Upcoming Courses
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Fixing Your Chart of Accounts
April 19, 2024
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How SAS Nos. 134-145 Improve Risk-Based Audits
April 19, 2024
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Financial Storytelling: The Key to Growing Your Organization
April 19, 2024
View all upcoming courses