S Corporation Taxation: Advanced Issues
Presenter
Gregory Carnes,
Accounting Professor,
University of North Alabama
Overview
This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.
Learning 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.
