Intricacies of the S corporation form
S corporations represent a special tax structure with unique rules and limitations. Become familiar with matters related to S corporations:
Basis in S corporation stock Compensation planning Use of qualified subchapter S subsidiaries S corporations in estate planning
Updated for recent developments
It's important to stay current on legislation and IRS publications that affect S corporations. Learners gain insight into the procedures that the IRS issued in recent years to cure a defective S corporation election.
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
Learning 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.
Major Topics
ยท 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
