Even though they have been around for several years, the tax laws pertaining to S corporations remain some of the more difficult areas of the Internal Revenue Code. In this course, we will examine how S corporations break away from the normal tax rules for flow-through entities.
This course features a live instructor and has been specifically designed for the NJCPA.
DESIGNED FOR
Tax and financial advisors with clients who have formed S corporations
BENEFITS
- Recognize the factors to consider when evaluating the reasonableness of S corporation shareholder compensation
- Recall which fringe benefits will result in additional W-2 income for S corporation shareholders
- Calculate the built-in gains tax and excess passive income tax
- Identify the federal income tax implications of a PTE election at the state level
HIGHLIGHTS
- Reasonable compensation
- Fringe benefits for S corporation shareholders
- Built-in gains tax
- Excess passive income tax
- Notice 2020-75: PTE elections
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES