S Corporations: The Fundamentals and More Webinar

Determine tax consequences of making the S corp election to the corporation and shareholders.Understand the application of the "qualified business income" deduction (IRC 199A)Recall requirements that must be satisfied to elect and maintain S corp status.Determine how to make an effective S corp election.Determine the income and stock basis effect of allocating corporate level items to the shareholders.Identify situations where shareholders could be limited in loss deductions.Identify tax planning opportunities related to election or termination of the S corp status.
Highlights
Considers a wide range of topics related to S Corporations with the purpose of creating or refreshing a solid foundation of knowledge in this specialized area of the tax law.Review the requirements to elect S Corp status, the process of electing, and the consequences of the election. Discuss the decision to elect or terminate and the sale of the corporate business which create valuable insights and perspective for more advanced S Corp study in the future.