Advanced Tax Planning S Corporations - Tax Staff Essentials

Overview

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

Prerequisites

Working knowledge of S corporation taxation

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.

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