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10 CPE

Surgent's Advanced Critical Tax Issues for S Corporations

This is a text-based course

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10 CPE

This is a text-based course. To receive credit, you are required to review all content and achieve a minimum score of 70% on the final exam.

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.

Learning 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

Major Topics

  • Final regulations on “eligible terminated S corporations” (ETSCs)
  • 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, including IRS efforts to address underreporing of S corporation officer compensation
  • 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

CPE Credits Available

10 CPE
10
Taxes

Things to Know About This Course

Course Level

  • Advanced

Professional Area of Focus

  • Tax
  • Partnership Tax

Prerequisites

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

Advanced Preparation

None

Intended Audience

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

Provider

Surgent CPE

Purchase This Course

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    $ 189 189
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  • COCPA Non-Member

    $ 246 246
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