Surgent's S Corporation Core Tax Issues From Formation Through Liquidation
Available Anytime
Location:
Online
8Credits
Technical Business
Registration is Open
FICPA Members
Nonmembers
$215.00 Regular Price
Product Code: SU24-SCTI-SSDL
Level: Intermediate
Vendor: Surgent
Field of Study: Taxes
Overview:
As experienced staff members master the preparation intricacies of an 1120-S 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.Objectives:
- Prepare more complicated S corporation returns
- Understand certain advanced concepts of S corporation taxation
- Protect S corporation clients from falling out of S corporation eligibility
Major Topics:
- What exactly is terminating S corporations, including recent rulings
- Schedules K-2 and K-3 reporting requirements and filing exceptions
- Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations
- Shareholder changes Living Trust and causes S termination
- LLCs electing S status, changing agreement could terminate election
- Inherited a new client with reporting errors? What are my options?
- Debt vs. equity and §385; Federal Express battled and won, how do we?
- Are we to expect SECA tax on pass-through entities?
- Shareholders losing “substance over form” argument
- Basis neither increased by phantom income, nor reduced by non-deducted pass-through losses
- Can I accrue expenses payable to a shareholder? Sure, but can I deduct them?
- How §179 limitations affect S corp. basis
- Comparison of liquidation of a C corporation vs. the liquidation of an S corporation
- Did not timely file Form 2553? A simple method to correct
- Is there a “flexible standard of law” in regard to closely held entities?
Designed For:
Experienced Accounting and Financial Professionals desiring a comprehensive case approach to understand reasonably complex S corporation issues and problems; also, Accounting and Financial Professionals who want a comprehensive, intermediate-level S corpoPrerequisite:
Basic knowledge of and experience with S corporation taxationAdditional Info:
You will receive an email from [email protected] with instructions on how to log onto your course shortly. If you do not receive the email within the hour, please check your spam filter.
For technical support, registration questions or other customer service-related inquiries, please call (800) 778-7436 or email [email protected]. Phones are staffed from 8:30 a.m. to 5:00 p.m. Eastern Time, Monday through Thursday, and 8:30 a.m. to 4:00 p.m. Eastern Time on Friday.