Self-Study

Surgent's Advanced Critical Tax Issues for S Corporations (ACTS)

  • Wednesday, May 1, 2019 – Thursday, April 30, 2020

  • 10
    CREDITS
    Taxes

This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know. Even if you have attended other S corporation courses, you will learn something new in this course.

Objectives

  • Understand how stock basis, AAA, and other limitations are determined
  • Appreciate how corporation planning can be used in an S corporation to change the effects of the one-class-of-stock rule
  • Understand what S corporation issues are being debated with the Service, settled in courts, and guided by administrative decisions

Highlights

  • The Tax Cuts and Jobs Act of 2017
  • Section 199A proposed regulations and Notice 2018-64 (including a Supplement of examples)
  • Cases, rulings, and tax law changes affecting S corporations
  • Compensation planning in S corporations, including limitations in a family-controlled business; self-employment tax issues
  • Use of redemptions: still some advantages
  • Planning for the liquidation of an S corporation
  • Tax issues for family ownership of S corporation stock
  • Impact of the tax on net investment income on sales of S corporation stock
  • Stock basis: Loss limitations, AAA, and distribution issues in depth
  • Debt basis: what the regulations on back-to-back loans mean to investors
  • Estate planning for S corporation shareholders, including buy-sell agreements, QSubs, ESBTs, and uses of life insurance
  • Built-in gains: the 5-year recognition period
  • S corporation structuring: one class of stock
  • Methods of accounting
  • Legislation on mortgage interest reporting, basis, statute of limitations, and tax return due dates 

Additional Information

Designed For

All practitioners and controllers who have attended a basic S corporation course and want to understand more complex issues and their practical implications

Vendor

Surgent

Advanced Preparation

None

Credits

10.00 Taxes

Prerequisite

A basic course in S corporations; some experience in advising S corporations and their shareholders

Course Number

1925378

Level of Knowledge

Advanced

Add to Cart

View All Courses