The discussion of S Corporations begins with formation issues & tests and includes elections using Form 2553, late "S" elections, allowed shareholders, reasonable compensation, basic rules, distributions and accounting issues as well as the use of ESBT's, QSST';s and the Q-Subf.
The "S" discussion provides the forms, elections and statements needed to convert a sole proprietor to an S Corporation or to convert an LLC to an S Corporation, as well as the guidance needed to convert a C Corporation.
The rare 338 step-up election for S Corporations is discussed in example form and we also provide the instructions and elections to make a deemed dividend election or to distribute E&P before AAA.
We also discuss troublesome operating issues such as officer compensation, suspenced losses and non-cash distributions. We analyze the effects of fringe benefits on the owner of he S Corporation. The course includes in-depth discussion of the new built in gains permanent change and concludes with a case study on S Corporation liquidations.
October 5, 2017 08:00 am
$295 - $350
October 5, 2017 04:00 pm
8 Hours Federal Tax
IRS Program Number
2-4 years tax preparation experience
Field of Study
Holiday Inn Itasca
860 W Irving Park Road
Itasca, IL 60143 Phone
630-773-2340 Website Visit Venue Website
IAAI has always been dedicated to increasing and maintaining a high standard of proficiency and integrity among its members; cultivating a spirit of professional cooperation among its members; and establishing good will and understanding between the public and the membership.
Bill Leonard CPA, CFFA holds licenses and memberships in Massachusetts, Rhode Island, Alaska and Singapore. He is the sole shareholder of W.A. Leonard & Company, P.C. and PT W.A. Leonard employing sixteen multi-lingual professionals that focus on meeting the needs of small businesses, individuals and fiduciaries. A graduate of Bentley University and Babson College, Bill has been in practice since 1981. He has over twenty years of college and seminar teaching experience.