This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.
August 7, 2026
Live Webcast
NASBA 8
Instructor
William Taylor
View Bio
Instructor
William
Taylor
View Bio
Mr. William Taylor
Bio
William F. (Bill) Taylor, CPA is President of Lifetime Financial Solutions, LLC, a financial coaching firm, and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS, he has served as an adjunct assistant professor in the MBA program at the University of Mississippi. Bill has worked in the employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS, office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals & Actuaries, CPA and bar associations in 45 states, and many private organizations. He has been awarded both the AICPA Outstanding Discussion Leader award and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.
This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.
Learning Objectives
Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations
Describe corporate level taxes
Describe the rules governing the redemption and liquidation of an S corporation
Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business, in particular after criticism of the Treasury Inspector General for Tax Administration of the IRS efforts to address underreporting of S corporation officer compensation
Be familiar with the results of the case studies that reinforce key learning points
Major Topics
Detailed rules governing basis in the shareholder’s debt and stock
Applicable OBBBA (One Big Beautiful Bill Act) provisionsÂ
AAA
Built-in gains incurred from the sale of assets
Redemptions and liquidations
Compensation planning for shareholders
CPE Credits Available
NASBA 8
4
Taxation (NYSED) (Taxation) - NASBA
4
Taxes (NASBA) (Taxation) - NASBA
Things to Know About This Course
Course Level
Advanced
Prerequisites
Experience in S corporation tax return preparation
Advanced Preparation
Experience in S corporation tax return preparation
Intended Audience
Accounting and Financial Professionals whose practices include S corporations and their shareholders