S Corporations: Crucial Insights (Part 4): 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

Tuesday, November 17, 2020 | 10:00 AM EDT

  • AFSP
  • CPA
  • EA
  • Tax Preparer
  • Oregon Tax Preparer
  • CTEC

2 Credits

$20

Subject Area

Taxes

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Additional Dates

May 14, 2021 | 02:30 PM EDT Register

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?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • 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

Testimonial

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    [average] => 4.5000
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4.5

(4)
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BH

well done

VG

Great webinar!!

SR

Good program