Identify and discuss various tax planning opportunities related to the operation of a corporate business with an S corporation election. Topics range from annual recurring planning to unusual transactions, such as stock redemptions and the sale of the corporate business.
Learning Objectives
- Identify built-in gain tax planning
- Understanding how to plan to minimize the impact of the loss limitation rules
- Determining the tax considerations related to buying or selling an S corporation
Major Topics
- Overview of the taxation of corporations and shareholders, including making the S corporation election
- Built-in Gain Tax Planning
- Self-employment tax and S corporations
- Distribution tax planning
- Planning to minimize the impact of loss limitations
- Tax planning for years with both distributions and losses
- Termination Planning
- Tax planning regarding the transfer of appreciated assets to an S corporation
- Buying and selling S corporations-tax planning ideas
- Tax considerations of using the QSUB, Section 338(h)(10), or 336(e) elections
- Tax Issues to consider at the death of S corporation shareholder
- Stock redemptions as a tax planning tool
- Accommodating a "non-qualified" investor
- Trusts and tax-exempt shareholders
- The second class of stock risks
