Understanding S-Corporation Taxation: The Next Level

Description

For the right taxpayer, S-Corporations can present many tax advantages, including less self-employment income for shareholders and tax-free distributions. However, in order to take full advantage of these attributes, practitioners need to know all the nuances of these unique entities.  When do we need to worry about the built-in gains tax?  Are there any limits to the amount of compensation that may be paid to the shareholders?  When are distributions considered in the basis ordering rules?  Using practical examples from everyday situations practitioners encounter, this course will explore these issues and many more!

*Pricing includes catered lunch, coffee, and refreshments.

Level: Intermediate
Field of Study: Taxes
Who Should Attend: Tax and financial advisors who regularly deal with S-Corporations and S-Corporation Shareholders
Required Knowledge: Basic understanding of S-Corporation taxation
Advanced Prep: None

Speaker: Peters, David

Details

Objective

• State the ordering rules for calculating a partner’s tax basis• Calculate the reallocation of items of gains and loss under IRC 704(b) when a qualified income offset is present• Recall the tax effects of contributing assets to a partnership that are encumbered by debt• Describe the key differences between liquidating and non-liquidating distributions• Determine any applicable tax gains and losses of cash and property distributions• State the ordering rules for hybrid distributions that involve both cash and property• Identify the tax implications of a constructive liquidation scenario• Recall the calculation of minimum gains and its effects on nonrecourse debt allocation

Credit Types

Taxes: 8