Ethics: Avoiding the Slippery Slope of Ethical Pressures

Description

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

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

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.

Designed For

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