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

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

Date Friday, January 27, 2023
Time 10:00am - 12:00pm
Central Time
Location Online
CPE credits CPE 2.0
Field(s)
of study
Taxes - Technical (2.0)
Fees
Standard Member Fee $79.00
Standard Nonmember Fee $109.00

Description

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.

Who should take this program?

CPAs and attorneys.

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.

Notes:

Course code Code 22WC-1113
Sponsor CalCPA Education Foundation
NASBA ID#: 104822
Level Overview
Format Group Internet Based
Prerequisites Prereq. Understanding the basics of taxation of individuals, corporations, S Corporations and partnerships.
Advance
prep
None

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

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