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Advance Tax Planning S-Corporations

Friday, November 4 8:00am - 4:00pm

(Check-In 7:30am)

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Hilton Garden Inn

3720 N Reserve St
Missoula, MT 59808

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8.00 Credits

Member Price $275.00

Price will increase by $50 after 10/14

Non-Member Price $325.00

Price will increase by $50 after 10/14

Overview

All materials will be electronic only

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 who assist clients with tax planning for S Corporations.

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 the basis limitations on losses. ·
  • Apply the rules for cash distributions. ·
  • Calculate gain and loss on the distribution of property.
  • Apply the corporate reorganization rules to S corporations. ·
  • Calculate the tax effect of a redemption of S corporation stock. ·
  • Identify the rules relating to the liquidation of an S corporation. ·
  • Determine the effect of a shareholder's death on the S corporation. ·

Preparation

None

Leader(s):

Leader Bios

Gregory Carnes

Gregory Carnes Florence, AL Dr. Gregory Carnes serves as Dean of the College of Business at the University of North Alabama. He came to UNA in 2007 as the Raburn Eminent Scholar of Accounting. He previously served as President of the Accounting Program Leadership Group, President-Elect of the Federation of Schools of Accountancy, and Secretary of the American Taxation Association. Dr. Carnes has also served as chair of the Department of Accountancy at Northern Illinois University and Dean of the College of Business at Lipscomb University. Dr. Carnes has published approximately 30 articles in journals such as The Journal of Economic Psychology, Journal of the American Taxation Association, Advances in Taxation, The Journal of International Accounting, Auditing, and Taxation, The Tax Adviser, Taxation for Accountants, Taxation for Lawyers, and The CPA Journal. He is a contributing author on South-Western Federal Taxation: Individual Income Taxes, a popular textbook used in undergraduate taxation courses. He also authors material for Wiley/CPA Excel, one of the nation’s leading CPA Review courses. He has also provided tax training for national accounting firms and the AICPA. He is a member of the AICPA, the American Accounting Association, the Alabama Society of CPAs, and the American Taxation Association.

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Non-Member Price $325.00

Member Price $275.00