Advanced Tax Planning S Corporations - Tax Staff Essentials

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

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by AICPA.