Description
Gain technical knowledge and expertise to respond to the needs of new and existing clients with S corporations.
Designed For
- Managers and partners in public accounting firms
- CPA sole proprietors specializing in taxation of S corporations
- Tax planning professionals
Objectives
- Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
- Calculate gain and loss on the distribution of property and apply the rules for cash distributions.
- Identify the distribution ordering rules when an S corporation has accumulated earnings and profits (AE&P).
- Identify the rules concerning fringe benefits received by S corporation shareholder-employees.
- Apply the rules relating to qualified subchapter S subsidiaries (QSubs).
- Apply the corporate reorganization rules to S corporations and identify the rules relating to the liquidation of an S corporation.
- Calculate the Section 199A deduction and subdivide activities into SSTBs and non-SSTBs.
- Determine whether an S corporation is the optimal entity based upon a given set of facts and circumstances.
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