Description

Look beneath the surface of S corporation taxation in this discussion of special topics concerning S corporations.

Target Audience

- managers and partners in public accounting firms

- CPA sole proprietors specializing in taxation of S corporations

- tax Planning professionals

Course 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.

-Apply the distribution ordering rules when an S corporation has accumulated earnings and profits.

-Evaluate the rules concerning fringe benefits received and expenses incurred by S corporation shareholder-employees.

-Apply the rules relating to qualified subchapter S subsidiaries (QSubs).

-Assess the corporate reorganization rules on S corporations.

-Calculate the Section 199A deduction.

Subjects

-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

Prerequisites

Working knowledge of S corporation taxation