Professional Services Agreements in Construction Live Webinar

S Corporations: How to Avoid Common and Often Overlooked Pitfalls (Simple to Complex) (OnDemand Webinar)

$219.00

SKU: 410766EAU

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: End Time:

Learning Objectives

S Corp Benefits
• Downsides With States
• Pitfalls With Sep IRA / 401K

S Corp Elections
• S Corp Eligibility
• Late Elections
• Qsub

Multi Entity Structures, Flexible Profit Splits, Autonomy

Reasonable Compensation
• Theory
• Tax Court Cases
• How to Approach
• Rc Reports
• W-2 Conversion
• Qbid Optimization

Fringe Benefits (Health, HSA, HRA, Di, LTC, Automobile)

Distributions, Timing

Accountable Plan Reimbursements, Home Office Limits

Adding Spouse, Kids to Payroll

Nomadic S Corp Owners

Expat S Corps

Revoking S Corp

CLE (Please check the Detailed Credit Information page for states that have already been approved) ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Jason Watson, CPA-WCG Inc.

Professional Services Agreements in Construction Live Webinar

S Corporations: How to Avoid Common and Often Overlooked Pitfalls (Simple to Complex) (OnDemand Webinar)

$219.00

SKU: 405574EAU

Description

Be aware of all the requirements that must be met in order for companies to operate as S corporations.
Are you aware of all the requirements that must be met in order for companies to operate as S corporations? With tax reform in the rearview mirror, now more than ever, the S corporation is an attractive type of entity in that it offers limited liability for its shareholders while avoiding the double taxation experienced by C corporations. In addition, S corporation income is subject to beneficial tax rates in respect of qualified business income passed through to shareholders. However, there are several rigid requirements that must be met in order for companies to do business as S corporations that, if not met, may result in undesirable consequences. These pitfalls may lead to termination of the S election and additional tax for the corporation or the shareholder, or both.
This topic helps you understand the tax rules that govern S corporations and their shareholders and avoid unintended consequences. We will highlight common transactions that have negative, but avoidable, impacts and will also present opportunities for S corporations and their shareholders that exist in the current regulatory environment. This information is critical for you to ensure proper operation of your client’s business from a tax perspective and quality tax services for your clients.

Date: 2019-01-31 Start Time: End Time:

Learning Objectives

Corporate and Shareholder Requirements
• One Class of Stock
• Number
• Type

Shareholder Basis
• Importance of Basis
• Stock Basis; Debt Basis

Entity Level Taxes
• Built-in Gains Tax
• Excess Net Passive Income
• LIFO Recapture

Reasonable Compensation to Shareholder
• Reasonable Compensation • Significant Employment Tax Savings by Making Distributions
• Unreasonable Compensation

M&A Deals Involving S Corporations
• Section 338(h)(10) and Section 336(e)
• Net Investment Income Tax Considerations

New Tax Bill
• 20% Deduction of Pass-Through Income
• Post-Conversion Distributions
• Deferral of Mandatory Repatriation

CPE ,Additional credit may be available upon request. Contact Lorman at 866-352-9540 for further information.

Richard Chou-Blank Rome LLP, Jeffrey M. Rosenfeld – Blank Rome LLP, Andrew Woodman – Blank Rome LLP