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CPE Self-Study

Advanced Tax Planning S Corporations - Tax Staff Essentials

  • $159.00-$199.00
    Advanced Tax Planning S Corporations - Tax Staff Essentials Availability : Online Access Product #: 157774
    AICPA Member: $159.00
    Non-Member: $199.00
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Protect your shareholder/clients with careful compensation planning.

As a tax practitioner, you need to understand the intricacies of the ever-popular S Corporation form of doing business and consider the tax affect various types of S Corporation distributions will have on its shareholders. Updated for Tax Reform, this CPE course examines planning and reporting successful complex S Corporation transactions. The uses of Qualified Subchapter S Subsidiaries are also explored to help you minimize your client's tax bill with winning strategies related to this type of entity. Course materials will include the impact of the Tax Cuts and Jobs Act of 2017 tax reform law.

Learning Objectives

  • 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 andprofits (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.

Key Topics

  • Basis in S Corporation Stock
  • Distributions
  • 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

Discounts

Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

Table of Contents

System Requirements

About the Authors

Brian R. Greenstein, Ph.D

University of Delaware / Kennett Square, PA

Brian R. Greenstein, Ph.D., is an accounting professor at the Lerner College of Business and Economics at the University of Delaware. Previously he served as the Director of Graduate Tax Programs and Chair of the Department of Accounting and Taxation at Seton Hall University. Dr. Greenstein started his career with an international CPA firm and currently maintains an active consulting practice.

Dr. Greenstein has presented hundreds of live seminars on various tax and financial planning topics for State CPA societies, private accounting firms, and the Internal Revenue Service. He has also written numerous articles appearing in national publications such as the Journal of Taxation, The Tax Advisor, the CPA Journal, the Journal of Corporate Taxation, Taxes - The Tax Magazine, Taxation for Lawyers, and the Review of Taxation of Individuals. His research has been quoted by the Supreme Court of the United States in Indopco v. Commissioner, and he actively contributes to the regulatory standard-setting process.

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.