4 Hour Live Virtual Training on S Corporations: Crucial Insights Part 2
In this Part 2 of S Corporation (S Corp ) Income Tax Course, you will learn credits affecting S corporations and corporate income taxes, when a shareholder identified income and losses.
Productivity
4 Hours
Description
We’ll take a deep dive into maximizing the QBID for S corporations. We’ll also the tax consequences of property distributions from an S corp (including circumstances where ordinary income is triggered). We’ll discuss how to decide whether shareholders should provide funds through loans or contributions.
We’ll also cover when clients can get ordinary losses on sales or worthless of S corp stock. We’ll discuss exit strategies for S corporation owners. We’ll take a deep dive into “land banks” – using S corporations to maximize capital gains on the sale of land that will later be developed. You’ll gain a deep understanding of strategies that minimize Federal taxes when your clients dispose of their S corporation businesses.
Course Objectives
Identify strategies to maximize the section 199A deduction for clients in the context of S corporations.
Identify key considerations in making additional contributions to an S corporation.
Identify when an S corporation is the best choice for new clients.
Discover methods to provide a “step-up” to new shareholders – like the step-up that partnerships provide under §743.
Identify strategies to restructure intercompany debt to provide basis to shareholders.
Identify the requirements to take ordinary losses on the sale of S corporation stock.
Explore a wide variety of exit strategies for S corporation shareholders.
Identify the K-1 “conformity” requirements that apply to shareholders.
Identify a method to create an ordinary loss on the sale of S corporation stock.
Discover the downside of contributing appreciated property to an S corporation.
Target Audience
Tax practitioners who want to expand tax planning strategies of S corporations.
Basic Understanding
Some background in preparing S corporation returns.
Course Content
No sessions available.
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