Advanced Tax Planning S Corporations - Tax Staff Essentials

Intricacies of the S corporation form

S corporations represent a special tax structure with unique rules and limitations. For those who've mastered the basics of the S corporation form, this course delves into advanced matters related to the ever-popular form:

• Basis in S corporation stock
• Compensation planning
• Use of qualified subchapter S subsidiaries
• S corporations in estate planning

Updated for recent developments

It's important to stay current on legislation and IRS publications that affect S corporations. Learners gain insight into the procedures that the IRS issued in recent years to cure a defective S corporation election.

The course also includes:

• Recently released revenue procedures
• New private letter rulings
• Other key pronouncements that are crucial to providing quality services to S corporation clients

Part of Tax Staff Essentials Level 4

This self-study online course is part of Tax Staff Essentials Level 4, a comprehensive learning program that provides tax managers, directors, and partners with the advanced technical training required to work with their most sophisticated clients.

This course can be purchased individually or as part of the Tax Staff Essentials Level 4 bundle.

Who Will Benefit

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

Key Topics

• Basis in S corporation stock
• Distributions
• Compensation planning
• Qualified subchapter S subsidiaries
• Liquidations, reorganizations and redemptions
• Estate planning and the use of trusts
• Section 199A

Learning Outcomes

• Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
• Calculate gain and loss on the distribution of property.
• Evaluate the rules concerning fringe benefits received by and expenses incurred by S corporation shareholder-employees.
• Apply the rules relating to qualified subchapter S subsidiaries (QSubs).
• Assess the corporate reorganization rules for S corporations.
• Evaluate the effects of a shareholder’s death on the S corporation.
• Calculate the Section 199A deduction.