Identify and discuss various tax planning opportunities related to the operation of a corporate business with an S corporation election. Topics range from annual recurring planning to unusual transactions, such as stock redemptions and the sale of the corporate business.
Target Audience
CPAs
Course Objectives
Identify built-in gain tax planning
Understanding how to plan to minimize the impact of the loss limitation rules
Determining the tax considerations related to buying or selling an S corporation
Identifying tax planning opportunities at the death of the shareholder of an S corporation
Determine how to minimize tax related to the distribution
Tax planning ideas related to transfers of property to S corporation for stock
Subjects
Overview of the taxation of corporations and shareholders, including making the S corporation election
Built-in Gain Tax Planning
Self-employment tax and S corporations
Distribution tax planning
Planning to minimize the impact of loss limitations
Tax planning for years with both distributions and losses
Termination Planning
Tax planning regarding the transfer of appreciated assets to an S corporation
Buying and selling S corporations—tax planning ideas
Tax considerations of using the QSUB, Section 338(h)(10), or 336(e) elections
Tax Issues to consider at the death of S corporation shareholder
Stock redemptions as a tax planning tool
Accommodating a "non-qualified" investor
Trusts and tax-exempt shareholders
The second class of stock risks
Prerequisites
Understanding the basics of S corporation federal tax law.
