For those who have mastered the basics of the 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, updated for the effect of H.R. 1, commonly
referred to as OBBBA, examines planning and reporting successful complex S
corporation transactions. The uses of qualified subchapter S subsidiaries are also
explored to help minimize client tax bills with winning strategies related to this type of
entity.
DESIGNED FOR
Managers and partners in public accounting firms, CPA sole proprietors specializing in taxation of S corporations,
Tax planning professionals
BENEFITS
- Interpret the rules relating to the adjustment of basis in stock by S corporation
shareholders.
- Calculate gain and loss on the distribution of property.
- 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 for S corporations.
- Evaluate the effects of a shareholder’s death on the S corporation.
- Calculate the Section 199A deduction.
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
Basic knowledge of S corporation taxation
ADVANCE PREPARATION
None