S Corporations: Crucial Insights: Ordinary Losses on Stock Sales, Exit Strategies, and Required Conformity to Form K-1

4.5 (4)

Greg White

State of the Art Tax LLC

Monday, March 15, 2021 | 02:30 PM EST

  • AFSP
  • CPA
  • EA
  • Tax Pros
  • CTEC

2 CPE | 2 CE

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Oregon Tax Preparers

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ )

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273)

2 CE credit of Federal Tax for Maryland Tax Preparers

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Money management is an important aspect of investing. Just like it is important 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 important for all the shareholders to devise an exit strategy that helps them in minimizing losses and yield better profits.

The webinar 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. The webinar will cover the following major topics:

Key Topics Covered:

  • Liquidations, Sales, Exchanges & Redemptions: Identifying 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.


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. 

Learning Objectives

  • To identify the requirements to take ordinary losses on the sale of S corporation stock.
  • To recognize a wide variety of exit strategies for S corporation shareholders.
  • To identify the K-1 “conformity” requirements that apply to shareholders.

Who Should Attend?

  • Tax Attorney
  • Tax Practitioners
  • Accountant
  • CPA - Small Firm
  • CPA - Mid Size Firm
  • Accounting Firm
  • Tax Pros
  • CPA (Industry)
  • Tax Firm
  • Young CPA
  • Tax Accountant (Industry)
  • Tax Director (Industry)
  • Senior Accountant
  • Tax Managers
  • Accounting Managers
  • Tax Preparer
  • Staff of Accounting Firm
  • Certified Public Accountant
  • Bookkeepers & Accountants & Tax Preparers

Testimonial

4.5

(4)
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BH

well done

VG

Great webinar!!

SR

Good program