Event Description

S-Corporation taxation has lots of pieces. There are helpful elections you can make that can potentially save your client money. There are rigid rules to be adhered to. For example, if there is more than one class of stock, it can terminate the S-election. Learning how to successfully navigate these rules can make all the difference. In this course, we will be discussing some of the more common specialty areas experienced by practitioners – late filing relief for S-elections, disproportionate distributions, and selling S-Corporation shares. While these items may not come up on every single Form 1120-S, you will be able to add more value to clients when they do!

Enrolled Agent Approved

Designed For

Tax and financial advisors who have clients who have formed S- Corporations.

Objectives

• Recall the rules for a late S-election 
•  Identify the tax implications of an S-Corporation making disproportionate distributions to S-Corp shareholders 
•  Recognize the tax rate applicable to the sale of S-Corporation shares