Advanced Tax Planning S Corporations - Tax Staff Essentials (7.5 hours)

Overview

Intricacies of the S corporation form

S corporations represent a special tax structure with unique rules and limitations. For those who’ve mastered the basics of the S corporation form, this course delves into advanced matters related to the ever-popular form:

• Basis in S corporation stock
• Compensation planning
• Use of qualified subchapter S subsidiaries
• S corporations in estate planning

Updated for recent developments, including H.R. 1

It's important to stay current on legislation and IRS publications that affect S corporations, including H.R. 1, commonly referred to as OBBBA. Learners also gain insight into instances in which the IRS has permitted cures of a defective S corporation election or an involuntary S termination.

The course also includes:

• Recently released revenue procedures
• New private letter rulings
• Other key pronouncements that are crucial to providing quality services to S corporation clients

Part of Tax Staff Essentials Level 4
This self-study online course is part of Tax Staff Essentials Level 4, a comprehensive learning program that provides tax managers, directors, and partners with the advanced technical training required to work with their most sophisticated clients.

Highlights

• 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

Foundational knowledge of S corporation taxation

Designed For

• Managers and partners in public accounting firms
• CPA sole proprietors specializing in taxation of S corporations
• Tax planning professionals

Objectives

• Calculate an S corporation shareholder's stock basis at the end of a taxable year
• Calculate gain and loss on the distribution of property.
• 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.
• Evaluate the effects of a shareholder's death on an S corporation.
• Calculate the Section 199A deduction.

Notice

“Adding to Calendar” does not register you for this event. Please either register online by clicking “Add to Cart” or contacting OSCPA at 503-641-7200 / 800-255-1470, ext. 3. Thank you!