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Course/Product Description
Title:

S Corporations: How To Avoid Common And Often Overlooked Pitfalls (Simple to Complex)

SKU:WC-1021673
Date / Time: Recorded
Format: Webinar
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Description:

The S corporation is an attractive type of entity in that it offers limited liability for its shareholders while avoiding the double taxation experienced by C corporations.

However, there are several requirements that must be met in order for companies to do business as S corporations that, if not met, may result in undesirable consequences. These pitfalls may lead to termination of the S election and additional tax for the corporation or the shareholder, or both.

Furthermore, given the tumultuous legislative environment, the tax rules that apply to S corporations and their shareholders are constantly changing, providing both pitfalls and opportunities.

This webinar helps you understand the tax rules that govern S corporations and their shareholders and avoid unintended consequences. We will highlight common transactions that have negative, but avoidable, impacts and will also present opportunities for S corporations and their shareholders that exist in the current regulatory environment.

This information is critical for you to ensure proper operation of your client's business from a tax perspective and quality tax services for your clients.

AGENDA

Corporate and Shareholder Requirements

  • One Class of Stock
  • Number
  • Type
Shareholder Basis
  • Importance of Basis
  • Stock Basis; Debt Basis
Entity Level Taxes
  • Built-in Gains Tax
  • Excess Net Passive Income
  • LIFO Recapture
Reasonable Compensation to Shareholder
  • Reasonable Compensation - Significant Employment Tax Savings by Making Distributions
  • Unreasonable Compensation
  • Negative Economic Consequences of Reducing Compensation
Other
  • Election to Distribute CE&P Before AAA
  • Deemed Dividend Election
About The Presenters

Giovanni F. Di Censo
  • Cleveland Tax Managing partner
  • Tax principal in the Mergers & Acquisitions Transactions Services Practice of Deloitte
  • More than 17 years of experience at Deloitte, 12 as a dedicated M&A specialist and 5 years of international tax and transfer pricing experience
  • Advises clients on tax structuring, cash modeling, tax due diligence and transaction documents in connection with mergers, acquisitions, dispositions, IPOs, debt workouts and restructurings and recapitalizations
  • Barred in Ohio, PA and NJ, member of the American Bar Association
  • J.D. degree, Ohio Northern University’s Pettit College of Law; LL.M. degree in International and comparative laws, Georgetown University Law School; B.A. degree in Philosophy, University of Notre Dame
Aubrey C. Markota
  • Senior manager in the Business Tax Services Group of Deloitte
  • Worked for Deloitte for more than ten years, of which two were overseas, two were in Miami and the remaining years in Cleveland
  • Experience with tax compliance and consulting for both public and private companies including corporate returns, pass-throughs, trust taxation, state and local tax compliance, and tax provision review
  • CPA, Tax Club of Cleveland, and AICPA member
  • B.S. degree in accounting, The University of Akron


Cannot Attend The Live Presentation?

This presentation is also available in a recorded format, in CD version, as shown in the pricing options below.

About Webcasts / Audio Conferences / Podcasts:

Webcasts, audio conferences, and podcasts are presentations that you attend via the Internet, phone, or mobile device at a specified date and time for "live" versions, or at your convenience for "recorded" and "On-Demand" versions.

The live versions are interactive, meaning that participants can ask questions in real time, plus are a very cost-effective form of training because 1) you receive fast, convenient learning without any out-of-office time; 2) you can invite as many colleagues as you'd like to listen in on a single phone line; 3) you incur no travel expenses; and 4) you and your colleagues are back at work immediately after the session ends!

And though with recorded versions you do lose the ability to ask questions, you gain the ability to hear the presentation numerous times and to share it with others in your office.

Handout materials and the phone number for live presentations are made available to you prior to the event via email from the presenter and from the "MyAccount" link on the menu bar. Copies of the presentations are included with recorded versions.

About The Provider: Lorman Education Services has provided educational seminars and online training for professionals since 1987.

Since then, we've kept thousands of professionals in the United States and internationally current on the most pressing topics in a rapidly changing marketplace of ideas. Like you, we understand the need for concise, accurate information.

That understanding underlies each Lorman course, presenting the latest information on the laws and regulations critical to your organization's successful daily operations.

Moreover, each course receives our painstaking attention to be certain both the faculty and participants receive the individual attention necessary to achieve maximum benefit from the materials.
More Info: Contact Us For More Information
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