S Corporation Core Tax Issues from Formation through Liquidation

Oct 26
8:00 - 4:00 p.m.

Penn State Great Valley - Main Bldg
Malvern - Map

8-Tax
CPE Credits

Learn how to prepare complicated S corporation returns. Understand certain advanced concepts of S corporation taxation and how to protect S corporation clients from falling out of eligibility. Use real-life examples for group analysis, discussion, and problem solving.
Highlights

Coverage of recent tax acts and new legislation
Basis calculations
Current private letter rulings reveal the failure in one or more S corporation eligibility requirements that is causing inadvertent terminations
Reporting errors with a new client: what are my options?
Debt vs. equity and Section 385
The $100/day penalty final rule applicable to S corporations
Congressional Budget Office is next in line suggesting SECA tax on pass-through entities
Tracking multiple shareholder debt basis
Basis neither increased by phantom income, nor reduced by nondeducted pass-through losses
Can I accrue expenses payable to a shareholder: can they be accrued and/or deducted?
How Section 179 limitations affect S corporation basis
Liquidation of a C vs. S corporation
Form 2553
Is there a flexible standard of law regarding closely held entities