Master the preparation of Form 1120 and other issues concerning the alternative minimum tax, personal holding companies, and accumulated earnings. Analyze partnership Form 1065 and S corporation Form 1120S. Understand compensation issues, fringe benefits, and certain business tax credit. Highlights
Complete coverage of new legislation regarding corporations and partnerships and their respective owners’ entity choice
Pros and cons of these various entity choices: sole proprietorship, C corporation, S corporation, partnership
Pension and profit-sharing plans: SEPs, SIMPLEs, 401(k)s, MSAs, HSAs, and cafeteria plans
Tax-free incorporation procedures under Section 351, including initial-year elections, accounting periods, and methods available
Benefits of Sections 1202 and 1244, stock sales and losses
Income and expense items receiving special treatment for tax purposes for all business entities
Schedule M1 alternative minimum tax overview and depreciation adjustments
Personal service corporations: special rules
Multiple corporations: How to identify brother-sister corporations and apply special rules
Dividends, redemptions, and liquidations
S corporations: In-depth analysis of eligibility to operating rules and distributions
Partnerships: formation, operation, and liquidation
Registration
PICPA Member: $549 Nonmember: $649
More Information
Course No.
772400
Level:
Intermediate
Prerequisites:
None
Speaker(s)
Christopher Wills
MillerSearles LLC
Christopher T. Wills, CPA
Chris is a partner with MillerSearles LLC. He has been affiliated with
the firm, as well as its predecessor, for over 20 years. Prior to that
time, Mr. Wills had approximately 4 years of "Big 4" experience in a tax
department with KPMG Peat Marwick. He graduated in 1989 from the
University of Maryland with a Bachelor of Science degree, Magna Cum Laude.
Mr. Wills' primary area of expertise includes individual and corporate tax
planning and consulting. He is the tax partner in the firm who spends much
of his time researching technical tax issues as well as reviewing business and
individual tax returns. He has worked with numerous industries including
warehousing and logistics, health care, and retail and wholesale sales.