Limited Period Access to myCPE Prime Unlimited CPE Access starting at $199. Subscribe Now

S Corps: Crucial Insights: Determining Reasonable Compensation, Basis Increases from Shareholder Debt, and Fixing the Loss of S Corp Status.

  • Accountant
  • AFSP
  • CRTP
  • CPA (US)
  • CVA
  • EA
  • ORTP
  • MRTP
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

This webinar 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 outcome. The topics included are as follows:

Major Topics:

  • Reasonable compensation for shareholder-employees.
  • The types of debt that provide 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 the 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 the track. 

This webinar will provide unique value to the CPAs, Enrolled Agents, and Tax preparers. 

Learning Objectives

  • To identify methods to determine reasonable compensation.
  • To restructure loans to provide basis to a shareholder.
  • To recognize the actions you can take if an S-Corp has ineligible shareholders or two classes of stock.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Senior Accountant
  • Staff of Accounting Firm
  • Tax Accountant (Industry)
  • Tax Attorney
  • Tax Director (Industry)
  • Tax Firm
  • Tax Managers
  • Tax Practitioners
  • Tax Preparer
  • Tax Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Federal Tax Law Update for California Registered Tax Preparers (CRTP) (Approval No. 6273-CE-0326)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal Tax Update for Enrolled Agents (EA) (Approval No. GEHNZ-U-00326-20-O)
  • 2 CPE Credit for Certified Valuation Analyst (CVA)
  • 2 CRE Credit for Certified Financial Examiner (CFE)
  • 2 CE Credit of Federal Tax Related Matters for Oregon Registered Tax Preparers (ORTP) (Approval No. GEHNZ-U-00326-20-O)
  • 2 CE Credit of Federal Tax Related Matters for Maryland Tax Preparer (MRTP) (Approval No. GEHNZ-U-00326-20-O)
  • 2 CPE Credit for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookkeeper/Tax Professionals

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    None
  • 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

Greg White

Certified Public Accountant (CPA), State of the Art Tax LLC

Greg has been providing services in accounting and tax matters with a focus on seafood and maritime industries for over 30 years. He specializes in tax planning, compliance, US Tax Court litigation, and representation of taxpayers before the Internal Revenue Service. He has provided expert witness testimony in many cases, and has served both as a Court Appointed Receiver and Court Appointed Special Master.

Greg is an Adjunct Professor with the Golden Gate University School of Taxation in Seattle and lecturers frequently for organizations providing professional education to other tax CPAs. He is a member of the American Society of Certified Public Accountants, and the Washington State Society of Certified Public Accountants.

About Company

State of the Art Tax LLC

State of the Art Tax LLC provides educational services to tax professionals. It offers a wide variety of topics including tax planning, S corporations, real estate, partnerships, choice of entity, and accounting methods.

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

4.6

50 Ratings

Excellent

32

Very Good

15

Average

2

Poor

1

Terrible

0

GA

Gwendolyn Allen

Jul 7th, 2021

Mr. White presented the information is an understandable, clear fashion. I mainly prepare individual returns. However, my husband has an s-corp for which I am the bookkeeper. I took this course to better understand the concept of "reasonable compensation". As a result of taking this course I will be discussing changes we need to make in terms of salary verses distributions.

TM

Tina Muswieck, Accountant, EA

Jul 7th, 2021

The instructor knew what he was speaking about. I was very impressed that he gave actual IRS tax court cases. He presented things in a very clear and concise manner. I left feeling educated in an area that I needed to know more information in.

YM

Ynned Massey, RTRP

Apr 6th, 2021

It was a great experience, especially if I could not do the webinar at the exact time I was still able to join the webinar.....

JF

Janet Fazio

Feb 4th, 2021

Probably my favorite webinar to date. Very informative, great use of case studies and exactly the right length.

TK

Tammy King, EA

Dec 7th, 2020

This was my first CPE with your company and I really enjoyed the speaker and the material covered.

S Corps: Crucial Insights: Determining Reasonable Compensation, Basis Increases from Shareholder Debt, and Fixing the Loss of S Corp Status.

PREMIUM

2 Credits

Subject Area

Taxes

Upcoming Webinars

Mastering IRS Representation
  • 3.7
  • (3)

Oct 05, 2022 | 09:00 AM EDT

Internal and System Controls Overview
  • 4.4
  • (90)

Oct 05, 2022 | 09:30 AM EDT

Excel Accountant : Intro to Macros In-Depth
  • 4.6
  • (110)

Oct 05, 2022 | 10:00 AM EDT

Business Valuations- Market Approach
  • 4.4
  • (16)

Oct 05, 2022 | 10:00 AM EDT

The AICPA’s Fraud Risk Framework
  • 4.5
  • (23)

Oct 05, 2022 | 10:00 AM EDT

AICPA Code of Conduct in the Real World
  • 4.5
  • (3011)

Oct 05, 2022 | 10:00 AM EDT

Everything you need to know - C Corp
  • 4.5
  • (15)

Oct 05, 2022 | 11:00 AM EDT

cookies_image

We use cookies to make your experience on this website better