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

Webinar: ID# 1036591
Recorded On-Demand
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About This Course:
Are you aware of all the requirements that must be met in order for a company to operate as an S corporation?

With tax reform in the rearview mirror, now more than ever, 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. In addition, S corporation income is subject to beneficial tax rates in respect of qualified business income passed through to shareholders.

However, there are several rigid 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.

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
  • M&A Deals Involving S Corporations
    • Section 338(h)(10) and Section 336(e)
    • Net Investment Income Tax Considerations
  • Bew Tax Bill

    • 20% Deduction of Pass-Through Income
    • Post-Conversion Distributions
    • Deferral of Mandatory Repatriation
What You'll Learn:
  • You will be able to identify the general tax consequences in respect of M&A deals involving S corporations
  • You will be able to review entity level taxes
  • You will be able to explain shareholder basis in S corporation stock
  • You will be able to discuss corporate and shareholder requirements for operating as an S corporation
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S Corporations: How To Avoid Common And Often Overlooked Pitfalls (Simple To Complex)
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