2024 MSCPA Annual Convention: Details

Advanced Tax Planning S Corporations - Tax Staff Essentials

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Tuesday, June 4, 2024 @ 8:00am – 4:00pm
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Description

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.

Prerequisites

Basic knowledge of S corporation taxation

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

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.

Credits

Category Amount
Taxation 8.00