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S Corporations: QSUB Elections Webinar

CPE

When
July 18
1:00 - 2:00 p.m.

CPE Credits
1-Tax

Details

 Pricing

PICPA Member: $49 | Nonmember: $79


 More Information

Course No.
4193333A
Level
Overview
Prerequisites
Understanding the basics of the taxation of corporations, S corporations and partnerships.

Description

  • Recognize the immediate and long term tax consequences of making or not making a QSUB election.
  • Identify situations where the QSUB election can be made.
  • Analyze the result of the "deemed liquidation" including unusual facts which can create complications.
  • Discuss situations where the election could be desirable or undesirable.
  • Explain the tax compliance requirements necessary to successfully make the QSUB election.

Highlights

Consider the factors that determine whether a QSUB election should be made. Discuss topics covering both immediate and long-term tax consequences and the process necessary to make the election.

If an S corporation owns 100% of the stock of another corporation, the tax consequences of the operation of the subsidiary will depend on whether the S corporation makes a 'qualified subchapter S subsidiary election' (QSUB election). This course will examine the tax compliance requirements necessary to successfully make the QSUB election.

Materials are provided as an ebook for this course.



Speaker(s)

John McWilliams, CPA, JD is Professor of Accounting at Golden Gate University. Previously he was a Professor of Accounting at San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 30 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. Areas of expertise include tax issues related to buying and selling privately held businesses, financially troubled businesses, business restructuring and reorganization and ownership succession to employees or family members. Mr. McWilliams is active in CalCPA, having served as president of the San Francisco Chapter, chair of the Financial Literacy Initiative, a member of the CalCPA Board of Directors serving as Vice Chair. He is currently a member of the Taxation Committee, the Financial Literacy Committe, and the Accounting Education Committee. He has served as a California representative to the AICPA Council and is currently a member of the AICPA Financial Literacy Commission. Mr McWilliams is author of two chapters of the CCH Expert Treatise Library : Federal Taxation of Corporations & Shareholders.


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