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Advanced Tax Planning S Corporations - Tax Staff Essentials

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Webcast Only

8.00 Credits

Member Price $352.00

Non-Member Price $443.00

Overview

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.

Highlights

  • 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

    Prerequisites

    Basic knowledge of S corporation taxation

    Designed For

    managers and partners in public accounting firms CPA sole proprietors specializing in taxation of S corporations Tax planning professionals

    Objectives

    • 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.
  • Leader(s):

    Leader Bios

    Deborah Phillips, Surgent McCoy Self Study

    Deborah A. Phillips, CPA, MST, operates her own tax controversy practice where she specializes in partnership and S corporation tax law as well as IRS audits and procedures. Debbie recently retired from the Large Business and International Division (LB&I) of the Internal Revenue Service (IRS), where she was a Senior Manager in the Flow Through Issue Practice Group (IPG). The IPG specializes in S corporation and partnership tax issues for LB&I. Debbie worked for the IRS for over 31 years, and she has extensive accounting and taxation knowledge of individual, corporate, and partnership federal tax returns. She was the Operations and Technical Assistant to the Deputy Commission International, the Technical Assistant to the Director of PFTG, a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team Manager in the Heavy Manufacturing Industry, and the IRC Section 263A Technical Advisor. Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for over 17 years as well as a textbook author. Debbie earned her master’s degree in taxation from Widener University.

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    Non-Member Price $443.00

    Member Price $352.00