4 Hour Live Virtual Training on S Corps: Crucial Insights Part 1
Training TypeLive Training
About the Course
We’ll take a deep dive into the cost of converting a C corporation to an S Corporation. We’ll discuss whether to choose S corp or C corp status.
We’ll cover steps to help you avoid loss of S corporation status. We’ll also cover the special considerations for stock held by estates or trusts of deceased shareholders. Your benefits from taking the course will include a deep understanding of some of the essential elements of tax planning for S corporations.
How do you determine reasonable compensation? We’ll cover every important case and provide practical methods to calculate how much compensation is reasonable. We’ll also cover basis increases that arise from shareholder debt: what works and what doesn’t work. Finally, we’ll cover what happens when an S corporation is inadvertently terminated – how you can get the train back on the track.
Identify situations where S corporations result in a lower Federal tax burden than C corporations.
Recognize the cost of converting from C corp to S corp status.
Identify some of the traps that can result in the loss of S corporation status.
Identify strategies for restoring S corp status retroactively.
Discover the rules for stock held by estates and trusts, including elections (QSST and ESBT).
Identify methods to determine reasonable compensation.
Learn to how to restructure loans to provide basis to a shareholder.
Learn what actions you can take if an S corp has ineligible shareholders or two classes of stock.
Who is the Target Audience?
Tax practitioners looking to expand their S corporation tax planning strategies.
There are no prerequisites