Understand the intricacies of the ever-popular S corporation form of doing business and consider the tax effect that various types of S corporation distributions will have on the corporation’s shareholders. Updated for the latest guidance on recently enacted tax legislation, this course examines planning and reporting successful complex S corporation transactions. The uses of Qualified Subchapter S Subsidiaries are also explored to help you minimize your client's tax bill with winning strategies related to this type of entity.
Learning Objectives
When you complete this course, you will be able to: • Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
• Calculate gain and loss on the distribution of property.
• Identify the rules concerning fringe benefits received by S corporation shareholder-employees.
• Apply the corporate reorganization rules to S corporations.
• Calculate the tax effect of a redemption of S corporation stock.
• Apply the rules relating to Qualified Subchapter S subsidiaries
Major Topics
• S corporation current developments: tax planning impact
• Compensation planning
• Basis in S corporation stock
• Distributions
• Use of qualified subchapter S subsidiaries
• Liquidations, reorganizations, and redemptions
• Estate planning and use of trusts
