Description
Understand the requirements that must be met in order for companies to operate as S corporations.
S Corporations are a powerful tax efficiency vehicle with the savings of Social Security and Medicare taxes, but there are considerations. The webinar will discuss the several reasons why an S Corporation does not make sense but will also highlight ways around some of the rigidity. Next, we will take a deep dive into reasonable shareholder salary which poses one of the largest challenges for tax professionals. Finally, we will wrap up with accountable plan reimbursements, nomadic owners, and revoking the S Corp election.
Date: 2023-11-14 Start Time: 1:00 PM ET End Time: 2:40 PM ET
Learning Objectives
* You will be able to describe what an S corporation is and how it differs from other business structures.
* You will be able to discuss potential downsides related to income and loss allocation.
* You will be able to explain the concepts of taxation and how it works in an S corporation.
* You will be able to identify the advantages of choosing an S corporation.