22WC-1113: S Corporations: Conversions (Webinar)

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

Friday, January 27, 2023
10:00am - 12:00pm Central Time
2 CPE (2 technical)

Electing S Corporations may find it desirable or necessary to terminate this election and convert to a C Corporation. Alternatively, qualifying C Corporations may determine the S status to be the preferred tax status. Terminating or electing S Corporation status can be desirable with important current and future tax considerations. We'll consider situations when such conversions are desirable -- identifying and discussing tax planning opportunities and complications at conversion.

Major subjects

• Reasons to terminate an S Corporation election
• Involuntary terminations
• Voluntary revocations the process and the consequences
• Tax planning opportunities related to the termination of S Corporation status
• Complications arising from a mid-year termination
• Limitations on re-electing S Corporation status
• Making the S Corporation election how and why
• Built-in gain planning

Learning objective(s)

• Discuss and analyze situations where terminating an S Corporation election could be desirable.
• Consider common situations where S-election may involuntarily terminate.
• Understand the process and tax planning opportunities related to a voluntary revocation.
• Evaluate complications related to mid-year termination of S Corporation status.
• Discuss and evaluate limitations on re-electing S Corporation status.
• Consider tax result from making the S Corporation election - how and the why
• Discuss built-in gain tax planning.

Who should take this program?

CPAs and attorneys.

Fees

Standard Member Fee	$79.00
Standard Nonmember Fee	$109.00