S Corporation Taxation: Advanced Issues (SCA4)

This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.

Learning Objectives:

•Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations 

•Describe corporate level taxes 

•Describe the rules governing the redemption and liquidation of an S corporation 

•Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business, in particular after criticism of the Treasury Inspector General for Tax Administration of the IRS efforts to address underreporting of S corporation officer compensation 

•Be familiar with the results of the case studies that reinforce key learning points

Who will benefit: Accounting and Financial Professionals whose practices include S corporations and their shareholders