This seminar will go beyond the basics and address important, practical issues that every experienced practitioner must know about S corporations.
All practitioners and controllers who have attended a basic S corporation course and want to understand more complex issues and their practical implications.
- 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
- Cases, rulings and tax law changes
- Compensation planning
- Using redemptions
- Planning for liquidation
- Tax issues for family ownership
- Impact of the new tax on net investment income on sales of S corporation stock
- Stock basis: loss limitations, AAA and distribution issues
- Debt basis: what the regulations on back-to-back loans mean to investors
- Estate planning, including buy-sell agreements, QSubs, ESBTs and uses of life insurance
- Built-in gains: the 5-year recognition period
- S corporation structuring
- Methods of accounting
- New legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates
A basic course in S corporations; some experience in advising S corporations and their shareholders.
- This seminar qualifies for CFP credit.
- This seminar qualifies for IRS credit.