Surgent's Advanced Critical Tax Issues for S Corporations

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  • Location
    • Your Space
      Your Space
      Self Study - Surgent, ID 00000
  • Credits
    • 10.00
  • Credit Type(s)
    • Taxes (Technical) (10.00)
  • Prerequisites
    • A basic course in S corporations; some experience in advising S corporations and their shareholders

  • Vendor
    • Surgent McCoy CPE, LLC
  • Level
    • Advanced
  • Fields of Study
    • Taxes
  • Message
    • When & Where You Want

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.

  • Course Type: Download

  • Qualifies for IRS CE
  • 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

    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

    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

    Advanced Prep

    None

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