Virtual
S Corporations: Tax Planning Ideas and Strategies 2023
Date: June 14, 2023
Time: 8 a.m. – 3:30 p.m. PT
CPE: 8
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
1000001614-116016
Credit Type
CPE: 8CPE-Technical: 8CTEC-TX: 8IRS-TX: 8MCLE: 6.5MCLE LS-TX: 6.5Accessibility
Closed Captioning Available
Intended Audience
CPA's and attorneys.
NASBA Field of Study
Taxes
Level of Difficulty
Advanced
Prerequisites
Basic understanding of the taxation of individuals, corporations, S corporations and partnerships.
Advance Preparation
None
Learning Objectives
Major Subjects
- Overview of the taxation of corporations and shareholder including making the S corporation election
- The decision to elect S corporation status—factors to consider
- Explanation and analysis of the application of the "qualified business income deduction (IRC 199A)
- 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 exempt shareholders
- The second class of stock risks
- S corporation election compared to Section 1202 stock incentive
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,...
More about John G McWilliamsAdditional Details
This course was recorded on 04/12/2023. The instructor will be available via the chat feature to answer questions during the presentation.