22WS-1340: Surgent's S Corporation Core Tax Issues From Formation Through Liquidation (Webinar)
If you have questions about this event, please call us at 952-831-2707.
Tuesday, January 10, 2023
9:00am - 5:00pm Central Time
8 CPE (8 technical) | 8 IRS CE
As experienced staff masters the preparation intricacies of an 1120S tax return, they are expected to understand and apply the underlying concepts, principles and laws governing S Corporation status. This course is designed to illustrate in both theory and practice overarching principles that govern S Corporations from formation to revocation, termination and liquidation. Experienced client-facing staff should be aware of the pitfalls that may inadvertently cause an S-status termination or may generate unintended tax consequences to shareholders.
Major subjects
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What exactly is terminating S Corporations, updated for 2020/2021 rulings
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Shareholder changes Living Trust and causes S termination
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LLCs electing S status, changing agreement could terminate election
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Basis calculation worksheet
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Inherited a new client with reporting errors? What are my options?
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Debt vs. equity and Section 385; Federal Express battled and won, how do we?
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Are we to expect SECA tax on pass-through entities?
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Tracking multiple shareholder debt basis. Revamped 1120S K-1 form and instructions
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Impact of CARES and Tax Relief Acts of 2020: Section 163(j) modifications, effect of PPP loan forgiveness on partners' outside bases
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Shareholders losing "substance over form" argument
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Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
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Can I accrue expenses payable to a shareholder? Sure, but can I deduct them?
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How Section 179 limitations affect S Corp. basis
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Comparison of liquidation of a C Corporation vs. the liquidation of an S Corporation
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Did not timely file Form 2553? A simple method to correct
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Is there a "flexible standard of law" in regard to closely held entities?
Learning objective(s)
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Prepare more complicated S Corporation returns
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Understand certain advanced concepts of S Corporation taxation
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Protect S Corporation clients from falling out of S Corporation eligibility
Who should take this program?
Experienced CPAs desiring a comprehensive case approach to understand reasonably complex S Corporation issues and problems; also, CPAs who want a comprehensive, intermediate-level S Corporation practice manual
Fees
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