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21WC-0238: S Corporations: Tax Planning Ideas and Strategies (Webinar)

If you have questions about this event, please call us at 952-831-2707.

Tuesday, June 29, 2021
10:00am - 5:30pm Central Time
8 CPE (8 technical)

Identify and discuss various tax planning opportunities related to the operation of a corporate business with an S Corporation election. Topics range from annual recurring planning to unusual transactions, such as stock redemptions and sale of the corporate business.

Major subjects

  • Overview of the taxation of corporations and shareholder including making the S Corporation election
  • The decision to elect S Corporation status -- factors to consider
  • Explanation and analysis of the application of the "qualified business income deduction (IRC 199A)
  • Self-employment tax and S Corporations
  • Distribution tax planning
  • Planning to minimize the impact of loss limitations
  • Tax planning for years with both distributions and losses
  • Termination Planning
  • Tax planning regarding the transfer of appreciated assets to an S Corporation
  • Buying and selling S Corporations -- tax planning ideas
  • Tax considerations of using the QSUB, Section 338(h)(10), or 336(e) elections
  • Tax Issues to consider at the death of S Corporation shareholder
  • Stock redemptions as a tax planning tool
  • Accommodating a "non-qualified" investor
  • Trusts and tax-exempt exempt shareholders
  • The second class of stock risks
  • S Corporation election compared to Section 1202 stock incentive

Learning objective(s)

  • Understanding the tax consequences of making the S Corporation election to the corporation and shareholders.
  • Understand the application of the "qualified business income" deduction ( IRC 199A).
  • Determining the tax costs and benefits of making or terminating the S Corporation election.
  • Identifying self-employment / FICA - Medicare tax planning opportunities.
  • Understanding how to plan to minimize the impact of the loss limitation rules.
  • Identifying tax planning opportunities in years with losses and distributions.
  • Understanding tax planning ideas when the S election is terminated.
  • Determining the tax considerations related to buying or selling an S Corporation.
  • Determining when to make the QSUB, Section 338(h)(10), or 336(e) elections.
  • Identifying tax planning opportunities at the death of the shareholder of an S Corporation.
  • Recall ideas to accommodate a "non-qualified" investor.
  • Understanding the law related to trusts and tax-exempt shareholders including ESOP's.
  • To be able to evaluate the risk of disqualification based on the second class of stock.
  • S Corporation election compared to the Section 1202 stock tax incentive.

Who should take this program?

CPA's and attorneys.

Fees

Our records indicate you are a nonmember. If you register, you will be charged $389.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.
Standard Member Fee $289.00
checkmark Standard Nonmember Fee $389.00

More program information

Location Online
Area
of study
Taxation
Field(s)
of study
Taxes - Technical (8.0)
Level Advanced
Format Group Internet Based
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Prerequisites Prereq. Basic understanding of the taxation of individuals, corporations, S Corporations and partnerships.
Advance
prep
None
Cancellation
policy
Receive a full refund if you cancel at least four business days before the event start date. Learn more

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If you have questions about this event, please call us at 952-831-2707.