S Corporation Taxation: Advanced Issues (SCA4)

This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.

Accounting and Financial Professionals whose practices include S corporations and their shareholders

Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations Describe corporate level taxes Describe the rules governing the redemption and liquidation of an S corporation Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business, in particular after criticism of the Treasury Inspector General for Tax Administration of the IRS efforts to address underreporting of S corporation officer compensation Be familiar with the results of the case studies that reinforce key learning points

Detailed rules governing basis in the shareholder's debt and stock AAA Built-in gains incurred from the sale of assets Redemptions and liquidations Compensation planning for shareholders, including planning strategies under the SECURE Act Tax Cuts and Jobs Act of 2017 and the various stimulus acts, as applicable

Experience in S corporation tax return preparation