Advanced Tax Planning S Corporations - Tax Staff Essentials
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The tax practitioner needs to understand the intricacies of the ever- popular S Corporation form of doing business. It is important to consider the tax affect various types of S Corporation distributions will have on your shareholders and protect shareholder/clients with careful compensation planning.
This CPE course examines how to successfully plan and report complex S Corporation transactions. It also explores how Qualified Subchapter S Subsidiaries may be utilized to help minimize your client's tax bill with winning strategies related to this type of entity.
This course will prepare you to:
- Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders
- Calculate the basis limitations on losses
- Apply the rules for cash distributions
- Calculate gain and loss on the distribution of property
- 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)
- Recognize when QSubs should be used
- Identify the rules relating to the liquidation of an S corporation
- Apply the corporate reorganization rules to S corporations
- Calculate the tax effect of a redemption of S corporation stock
- Recognize the eligibility of trusts as S corporation shareholders
- Determine the effect of a shareholder's death on the S corporation
- Basis in S Corporation Stock
- Compensation Planning
- Qualified Subchapter S Subsidiaries
- Liquidations, Reorganizations, and Redemptions
- Estate Planning and the Use of Trusts
Who Will Benefit?
- Managers and partners in public accounting who assist clients with tax planning for S Corporations
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