Overview
Look beneath the surface of S corporation taxation in this discussion of special topics concerning S corporations.
Prerequisites
Working knowledge of S corporation taxation
Objectives
- Interpret the rules relating to the adjustment of basis in stock by S corporation shareholders.
- Calculate gain and loss on the distribution of property.
- Apply the distribution ordering rules when an S corporation has accumulated earnings and profits.
- Evaluate the rules concerning fringe benefits received and expenses incurred by S corporation shareholder-employees.
- Apply the rules relating to qualified subchapter S subsidiaries (QSubs).
- Assess the corporate reorganization rules on S corporations.
- Calculate the Section 199A deduction.
Highlights
-Basis in S corporation stock
-Distributions
-Compensation planning
-Qualified subchapter S subsidiaries
-Liquidations, reorganizations and redemptions
-Estate planning and the use of trusts
-Section 199A
