Advanced Tax Planning S Corporations - Tax Staff Essentials
- 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.
Learning 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.
Major Topics
- 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
