Buying and Selling S Corporations: Tax Planning Opportunities Webinar

Identify potential tax advantages or costs of making an S corp election.Recognize tax considerations of liquidating an S corp.Determine when to use Secs. 338(g), 338(h) (10), 336(e) and qualified subchapter S subsidiary elections.Identify allocation taxable income or loss between the buyer and shareholder.Determine how to use an ESOP to sell stock to employees.Identify the basics of acquisitive reorganizations and S corps.
Highlights
Buying or selling an interest in a closely held corporate business is an important transaction. CPAs must be prepared to fully consider the unique tax characteristics of an S corp to advise their clients, whether sellers or buyers.We'll consider buyer and seller perspectives, relevant law, tax planning opportunities, pitfalls to avoid and necessary compliance issues. Review rules related to determining stock basis of an S corp, treatment of suspended losses, distributions, accumulated adjustment accounts, the built-in gain tax, excess net passive income tax, allocation of income and losses related to changes in ownership of an S corp, and tax treatment of S corp election terminations.Finally, consideration of different tax consequences of asset sales and stock sales, including Sect. 338 and 336(e) elections. The significant changes made by 2017 TCJA are discussed and analyzed.