S Corporation Taxation: Advanced Issues
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Virtual
4.00 Credits
Member Price $219.00
Non-Member Price $309.00
Overview
You could pay $0 for this course!
This course qualifies for EA/IRS and CFP credit. If you need EA/IRS credit, please contact Tyler Dion (tdion@masscpas.org) after you have registered and provide him your PTIN number.
This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.
This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-13026. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.
Highlights
Detailed rules governing basis in the shareholder’s debt and stock AAA Built-in gains incurred from the sale of assets Redemptions and liquidations Compensation planning for shareholders, including planning strategies under the SECURE Act Tax Cuts and Jobs Act of 2017 and the various stimulus acts, as applicable
Prerequisites
Experience in S corporation tax return preparation
Designed For
Accounting and Financial Professionals whose practices include S corporations and their shareholders
Objectives
Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations Describe corporate level taxes Describe the rules governing the redemption and liquidation of an S corporation Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business, in particular after criticism of the Treasury Inspector General for Tax Administration of the IRS efforts to address underreporting of S corporation officer compensation Be familiar with the results of the case studies that reinforce key learning points
Preparation
None
Leader(s):
Leader Bios
Michael Frost, Surgent McCoy CPE LLC
Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with “high honors and distinction” from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.
Non-Member Price $309.00
Member Price $219.00