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S Corporation Tax Planning Strategies

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CVA
  • CFA
  • EA
  • ORTP
  • Maryland Tax Prep.
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

The recent situations have come with a lot of changes in the laws governing business entities. It not only covers the updates in the tax law but its practical application such as submission as well. Especially in the case of S Corporation, there have been significant changes that have affected the operations and tax aspects in a major way. This webinar encompasses major updates that are significant for the S corporation. Further, it takes a business perspective that can help you in your practice. 

This Tax Strategy online CPE webinar covers key topics in four sessions. They are as follows:

Session -1: WHY YOU SHOULD PICK S OVER C, TRAPS IN S CORP QUALIFICATION, AND MORE

By sheer number, S corps are still the entity of choice for many businesses. Hence, tax practitioners need to be aware of the planning and potential traps associated with S-Corp taxation. Reviewing real-world strategies that can assist your clients in reducing their tax liabilities, while accomplishing their economic goals, as well as discuss cutting-edge tax strategies is never an option. This webinar provides a comprehensive look at S-corporation. It will give crucial insights about selecting the right type of corporation for your entity in turn.

The Online CPE webinar will take a deeper dive into the real cost of converting a C-corporation to an S-Corporation. It will discuss whether one should choose S-Corp or C-Corp status based on merits. The online CPE/CE webinar comes to you with the most recent updates of S Corporations issues. It will offer invaluable strategies, techniques, innovative tax-planning concepts, and other planning opportunities available to S-corporations. It will cover steps to help avoid loss of S corporation status. The webinar will provide you all the details you need to know to maintain the eligibility status of an S-Corporation. The S-Corp CPA webinar will take an in-depth dive into the special considerations for stock held by estates or trusts of deceased shareholders.

This online CPE webinar covers the following key topics:

  • The cost of converting a C corporation to an S corporation.
  • Maintaining eligibility of an S corporation.
  • Choosing the best type of corporation for your client.
  • Special rules for stock owned by estates and trusts.


Session - 2: DETERMINING REASONABLE COMPENSATION, BASIS INCREASES FROM SHAREHOLDER DEBT, AND FIXING THE LOSS OF S CORP STATUS.

This S-Corp webinar for CPA comes to you with the most recent updates of S Corporations issues. These subjects are considered crucial insights as they influence many parts of the S-Corporation operations and business outcomes. 

This online CPE webinar covers the following key topics:

  • Reasonable compensation for shareholder-employees.
  • The types of debt that provide the basis to shareholders. 
  • Fixing technical violations of S corporation’s eligibility rules.


How do you determine reasonable compensation? Between 2010 and 2013, a number of cases and IRS enforcement came up with the question of reasonable compensation. CPAs, tax, and financial advisors are constantly facing issues regarding determining reasonable compensation. It will cover every important case and provide practical methods to calculate how much compensation is reasonable. Unlike C corporations, every year a shareholder’s stock basis in an S corporation changes based on the operations. It will cover basis increases that arise from shareholder debt: what works and what doesn’t work. At the last, it will cover what happens when an S corporation is inadvertently terminated – how you can get the train back on track. 


Session - 3: MAXIMIZING THE §199A QBID FOR S CORPORATIONS, RESTRUCTURING INTERCOMPANY DEBT, AND OTHER PLANNING INSIGHTS.

The qualified business income deduction under section 199A is so complex that the taxpayer may incur large penalties over their tax dues instead of getting the deduction if not applied correctly with proper understanding. 

Though it is undeniable fact that under IRC 199A taxpayers have received one of the best new tax deductions from Tax Cuts and Jobs Act – i.e. new 20% qualified business income deduction. Indeed the issues in the case of Qualified Business Income Deduction is not only about learning and understanding the code, but also about making sure the tax calculations are done with accuracy. This webinar takes a deep dive into maximizing the QBID for S corporations. 

Due to numerous reasons such as economic challenges; to increase financial tax or operating efficiency; adapt to new market dynamics, or debt/loss situation, etc. take the path of drastically changing their capital structure. Such capital restructuring brings numerous accounting and tax complexities, financial reporting, and other compliances, etc. Sometimes identifying such issues in time provides you numerous advantages. In case, there is such a restructuring between an intercompany debt transaction that is aimed to provide the shareholders with more basis, how should it take place? The S-Corp CPE webinar will take the topic into a detailed discussion. Further, whether it is in the interest of the shareholders to provide the funds to the company as a loan or contribution.

This online CPE webinar covers the following key topics:

  • Section 199A – special considerations for S corporations.
  • Restructuring intercompany debt to increase shareholder basis. 
  • Transferring funds to an S corporation: Are loans better than capital contributions?


Session - 4: ORDINARY LOSSES ON STOCK SALES, EXIT STRATEGIES, AND REQUIRED CONFORMITY TO FORM K-1

Money management is an essential aspect of investing. Just like it is essential to know when to get invested, so is true for the exit. Without devising an exit strategy a shareholder may have to adjust premature profits or – in some cases – losses. Especially, in the case of an S-Corporation, this is true. Therefore, it is essential for all the shareholders to devise an exit strategy that helps them in minimizing losses and yield better profits.

The CPE webinar for CPAs and other professionals will cover strategies from an S-Corporation perspective on exit strategies when clients can get ordinary losses on sales or worthless of S Corp stock, and “land banks” – using S corporations to maximize capital gains on the sale of land. 

This online CPE webinar covers the following key topics:

    • Liquidations, Sales, Exchanges & Redemptions: Identifying the right Exit strategies for your S Corp shareholders:
    • Distributions of Depreciable Property to Controlling S‐H
    • IRC §1244: Ordinary Losses ‐ Sale of Stock or Liquidation of S Corp.
    • Sale of an S Corp Stock
    • How to move Income to the Seller
    • Distributions in the Year of Sale
    • Planning Strategies for liquidation
    • Wages Strategy as Part of a Stock Sale
    • Sales of Shareholder Goodwill
    • Sale of Land to S Corp
    • Shareholders Must Follow Form K‐1: The Conformity Rule
    • §179 Taxable Inc. Limit and S‐H Comp
    • Transforming Interest Expense Increasing Interest Deductions
    • Shareholders' Interest Expense
    • The perils of distributing appreciated assets from an S corporation.

    Learning Objectives

    • To compute the cost of converting from C-Corp to S-Corp status.
    • To explore ways to avoid loss of S corporation status.
    • To identify the considerations involving stock held by estates and trusts, including elections (QSST and ESBT).
    • To identify methods to determine reasonable compensation.
    • To restructure loans to provide basis to a shareholder.

    Recommended For

    • This IRS-Approved CE course is recommended for CPAs, EAs, AFSPs, and Other Tax Professionals seeking insights for tax planning for their S Corporation Clients.
    • This CPE webinar is good for CFAs, CVAs and Other Finance professionals engaged in tax planning for their clients.
    • This will be a key-value driver webinar for the CPAs, EAs, Tax Preparers, and Other Tax Professionals whose practice involves specialization for S-Corporation or whose client base involves a major portion of S-Corporation or its shareholders.

    Who Should Attend?

    • Accountant
    • Accounting Firm
    • Bookkeepers & Accountants & Tax Preparers
    • California Registered Tax Professional
    • Certified Valuation Analysts
    • CPA (Industry)
    • CPA - Mid Size Firm
    • CPA - Small Firm
    • Enrolled Agent
    • Maryland Tax Preparers
    • Oregon Tax Preparers
    • Tax Accountant (Industry)
    • Tax Attorney
    • Tax Director (Industry)
    • Tax Firm
    • Tax Managers
    • Tax Practitioners
    • Tax Preparer
    • Tax Professionals
    • Tax Pros
    • Young CPA

    Course Qualification

    Webinar Qualifies For

    • 8 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00359-20-O)
    • 8 PL Credit for Chartered Financial Analyst (CFA)
    • 8 CPE Credit for Certified Valuation Analyst (CVA)
    • 8 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
    • 8 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0362)
    • 8 CE Credit of Taxes for Annual Filing Season Program (AFSP)
    • 8 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-T-00359-20-O)
    • 8 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-T-00359-20-O)
    • 8 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
    • 8 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
    • 8 CE Credit for Certified Wealth Strategist (CWS)
    • 8 General Credit for Accountant/Bookeeper

    Additional details

    • Course Level :
      Basic
    • Credits :
      8
    • Instructional Method :
      Group Internet Based
    • Pre-requisites :
      An Understanding Of S Corporation Structure
    • Advance Preparation :
      None

    IRS APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor Id#: GEHNZ) has entered into an agreement with the Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors, and length of class hours. This agreement does not constitute an endorsement by the IRS as to the quality of the program or its contribution to the professional competence of the enrolled individual. Credit earned by attendees with a PTIN will be reported directly to the IRS as required of all providers. To ensure your CPE hours are reported, update your profile in My Account to include your PTIN number. Please note: IRS CE is only mandatory for EAs and ERPAs. For all other tax return preparers, CE is voluntary.

    NASBA APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

    CTEC APPROVED

    MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

    MY-CPE LLC (Sponsor ID# : 6273) has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, toll-free by phone at (877) 850-2832, or on the Internet at www.ctec.org.

    Presenter

    About Presenter

    Jason DInesen

    Speaker, Dinesen Tax & Accounting, P.C.

    Jason Dinesen (LPA, EA) is an entrepreneur, tax expert, and CPE Presenter. Dinesen brings over 15 years of experience helping individuals and businesses with accounting, bookkeeping, tax preparation, and business advisory in various industries. 

    Dinesen is a regular CPE Presenter at myCPE. He has coached more than 200k+ accounting, taxes, and HR professionals on various topics of accounting, individual taxation, corporate taxation, and professional ethics.  Jason has developed a strong following within the professional community for tax-related subjects. 

    Dinesen is known for sharp tax interpretations, and he quickly brings his analysis of the latest tax updates and IRS guidance to the professional community.

    About Company

    Dinesen Tax & Accounting, P.C.

    www.dinesentax.com

    Unlike some other accounting firms, when Dinesen Tax & Accounting, P.C. says we offer personal service, we mean it. When you come to us with your tax preparation needs, you’ll deal directly with our owner and president, Jason Dinesen. We don’t put administrative staff in the middle of you and our tax expert. That means you’ll always have first-hand knowledge of where things stand, and important information won’t slip through the cracks. We welcome all clients, but especially individuals who want the benefits of a long-term relationship with an accounting firm capable of handling anything that might come along with their taxes. We give all our clients the time, attention, and convenience they should expect. If you have a challenging professional or personal schedule, Jason will accommodate you by meeting whenever – and wherever – works best for you.

    Faq

    FAQs content

    • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
    • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
    • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
    • Polling feature Not supported: If you are logging in through browser or web portal in the browser (zoom.us) it doesn’t support the polling feature. Please be advised the current polling feature can only be supported via Zoom desktop and mobile app. You can check the same here : https://support.zoom.us/hc/en-us/articles/203749865-Polling-for-webinars
    • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
    • If you still face the polling problem please don’t panic and provide your response in the chat and we shall consider the same for processing for credits. You can download Zoom by clicking on the mentioned link : https://zoom.us/download
    • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
    • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
    • myCPE Courses are taken by : CPA | CMA | CFE | CIA | CPA(Yellow Book)| CFP | CFA | CPA (Govt.) | EA | CRTP | MRTP | ORTP | ABV | CITP | CVA | PFS | CFF and others.

    Ratings and Review

    4.5

    59 Ratings

    Excellent

    36

    Very Good

    19

    Average

    4

    Poor

    0

    Terrible

    0

    CD

    Chris Donnelly, CPA (US)

    Jan 6th, 2022

    I thought it was great. I think if you broke it into two days it would be even better!

    PO

    Paul Odonnell, CPA (US)

    Dec 22nd, 2021

    1

    JW

    Jay Wettig, CPA (US)

    Dec 2nd, 2021

    I may still looking for some answers to my questions from the Q&A of this course.

    PJ

    Prabhakar Jain, EA

    Dec 29th, 2021

    It was a very good webinar.

    BH

    Betsy Hill, EA

    Dec 1st, 2021

    There was several times that I had trouble with the webinar. It went out or after the polling question was removed the words "polling question" stayed on the screen. I know that I missed several slides due to the issue.

    S Corporation Tax Planning Strategies

    $80

    8 Credits

    Subject Area

    Taxes

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