S Corporation Update After Tax Reform

Webinar: ID# 1010251
About This Course:
This course addresses the S corporation rules that every CPA needs to know, from basics such as qualification of an entity as an S corporation and basis rules, to hot topics such as the pass through entity deduction and the new ability of nonresidents to be beneficiaries of a trust owning S corporation stock, to advanced topics such as special issues for trusts owning S corporation stock and tax planning using multiple types of entities including S corporations to achieve results not possible with a single entity type.

Don't miss the discussion; don't miss the ideas.

Agenda / Covered Topics
  • S Corporation Update
  • Tax Reform
  • Qualification as a Subchapter S corporation including restrictions on shareholders and the one class of stock rule
  • 199A, the pass-through entity deduction, as applied to S corporations
  • Reasonable compensation for S corporation owners and the impact on employment taxes and the net investment income tax
  • S corporation operations including the per share per day rule, basis rules, distribution rules and dealing with third party debt for basis purposes
  • Inheritance of S corporation stock and special issues for trusts owning S corporation stock including available elections and the new ability of non-residents to be permissible current beneficiaries of a trust owning S corporation stock
  • Tiered entity structures involving S corporations including qualified subchapter S subsidiaries, disregarded entities and using partnership entities including LLCs in conjunction with S corporations
Included Materials

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