On-Demand
S Corporations: Tax Planning 2024-25
CPE: 4
Overview
Identify and discuss various tax planning opportunities related to the operation of a corporate business with an S corporation election. Topics range from annual recurring planning to unusual transactions, such as stock redemptions and the sale of the corporate business.
Product Code
1000003705
Credit Type
CPE: 4CPE-Technical: 4Format
Online Self-Study
NASBA Field of Study
Taxes
Level of Difficulty
Intermediate
Prerequisites
Understanding the basics of S corporation federal tax law.
Advance Preparation
None.
Learning Objectives
Major Subjects
- Overview of the taxation of corporations and shareholders, including making the S corporation election
- Built-in Gain Tax Planning
- Self-employment tax and S corporations
- Distribution tax planning
- Planning to minimize the impact of loss limitations
- Tax planning for years with both distributions and losses
- Termination Planning
- Tax planning regarding the transfer of appreciated assets to an S corporation
- Buying and selling S corporations—tax planning ideas
- Tax considerations of using the QSUB, Section 338(h)(10), or 336(e) elections
- Tax Issues to consider at the death of S corporation shareholder
- Stock redemptions as a tax planning tool
- Accommodating a "non-qualified" investor
- Trusts and tax-exempt shareholders
- The second class of stock risks
Faculty
John G McWilliams
John McWilliams, CPA, JD. has been a professor of accounting at Golden Gate University and San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 40 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. His areas of expertise include tax issues related to buying and selling privately held businesses, financially troubled businesses,...
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