LCSC
SURGENT McCOY'S CASE STUDIES IN THE LIFE CYCLE OF AN S CORPORATION

In this course participants use one continuous sample case to apply federal tax rules to their client's S corporations. This case deals with complex S corporation issues for the group's analysis, discussion, and problem-solving. Participants will be able to understand tax saving and planning opportunities during the entire life cycle of a typical S corporation.

Major topics include:
  • Complete coverage of The Small Business and Work Opportunity Tax Act of 2007
  • Follow one case study from the incorporation decision, S election, built-in gain issues, excess passive investment income, fringe benefits, and compensation issues through final liquidation.
  • Review and analyze complex S cases and proposed solutions to these complex cases
  • Examine a multitude of cases dealing with many varied S corporation issues to be analyzed, discussed and resolved.
  • Discuss planning opportunities with new eligible shareholders including parent S corporations and tax-exempt organizations including ESOPs
  • Understand new procedures to adopt, retain, or change to a fiscal year-end without sanctions
  • Learn computation of the built-in-gain tax and planning opportunities
  • Study pass-through of income and expenses to shareholders including fringe benefit restrictions
  • Look at limitation of losses to S corporation shareholders in light of new regulations and court decisions on 'at-risk' basis limitations
  • Discuss tax on excess passive investment income

Designed for: Experienced CPAs who desire a comprehensive S corporation course that will enable them to understand reasonably complex S corporation problems and issues.

Level of knowledge: Intermediate

Field of study: Taxes