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Sessions | Instructor | Event Registration |

Event Information

S Corporations: The Fundamentals and More Webcast | 4203118B
Date: August 6, 2020
Event Start time: 8:30 AM   End time: 4:00 PM
Location: Webcast

Facility: Webcast Rebroadcast

 


Member:       $289
Nonmember: $389

CPE Credits:

8.00 CPE: Continuing Professional Education Technical
8.00 CTEC-TX: CTEC - Federal Tax Law Hours Technical
8.00 IRS-TX: IRS Federal Tax Update Technical
6.50 MCLE: MCLE Technical


 

Considers a wide range of topics related to S Corporations with the purpose of creating or refreshing a solid foundation of knowledge in this specialized area of the tax law.

Review the requirements to elect S Corp status, the process of electing, and the consequences of the election. Discuss the decision to elect or terminate and the sale of the corporate business which create valuable insights and perspective for more advanced S Corp study in the future.

 
 

Objectives:
 
  • Determine tax consequences of making the S corp election to the corporation and shareholders.
  • Understand the application of the "qualified business income" deduction (IRC 199A)
  • Recall requirements that must be satisfied to elect and maintain S corp status.
  • Determine how to make an effective S corp election.
  • Determine the income and stock basis effect of allocating corporate level items to the shareholders.
  • Identify situations where shareholders could be limited in loss deductions.
  • Identify tax planning opportunities related to election or termination of the S corp status.
 
 

Major Subjects:
 
  • Tax consequences of an S corp election.
  • Explanation and analysis of the "qualified business income deduction" (IRC 199A)
  • Qualification requirements to make and maintain an S corp election.
  • Filing the S corp return.
  • Allocation of corporate results to the shareholders.
  • Adjustments to the basis of the stock of an S corp.
  • Limitations on deducting S corp losses.
  • Tax consequences of distributions to shareholders.
  • Tax planning related to S corp elections or terminations.
  • Sale of an S corp business: the basics.
 
 

Level of Difficulty:
Overview

Field of Interest:
Taxes

Prerequisites:
 

Basic understanding of the taxation of individuals, corporations, S corps and partnerships.

 
 

Designed For:
 

CPAs and attorneys.

 
 

Advanced Prep:
 

None.

 
 

Event Notes:

This course will adjourn at 4 p.m.

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