Surgent’s Advanced Critical Tax Issues for S Corporations (ACTS) (SSTX08/19)

Loading Events

Event Description

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.

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

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 Subjects

  • The Tax Cuts and Jobs Act of 2017
  • 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 

Prerequisites

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

Instructions

When you purchase a Surgent CPE on-demand course, it must be taken by June 30, 2019, to receive credit.
Within 5 minutes after your purchase, you will receive an email from info@surgent.com that explains how to access your course and materials.
Once you complete a course, please allow up to 30 days to receive you certificate of completion.
If you have further questions, please email info@surgent.com or call 800.778-7436. Their help lines are staffed Monday-Friday from 8:30 am to 5 pm Eastern Time.