Understand the intricacies of the ever-popular S corporation form of doing
business and consider the tax effect that various types of S corporation
distributions will have on the corporation's shareholders.
Updated for the latest guidance on recently enacted tax legislation, this 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.
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.
- Apply the corporate reorganization rules to S corporations.
•
- Calculate the tax effect of a redemption of S corporation stock.
•
- Identify the rules relating to the liquidation of an S corporation.
•
- Determine the effect of a shareholder's death on the S corporation.
•
Major Topics
- S Corporation current developments: tax planning impact
- Compensation planning
- Basis in S Corporation stock
- Distributions
- Use of qualified subchapter S subsidiaries
- Liquidations, reorganizations, and redemptions
- Estate planning and use of trusts