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S Corporation Exit Strategies

  • AFSP
  • CPA (US)
  • EA
  • Tax Preparer
  • CRTP

Published: June, 2021

Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • Faq

Course Description

Overview

  • Property Distributions
    2 mins
  • Sale of S Corp Stock
    15 mins
  • Consideration for Selling Shareholder
    26 mins
  • Wages as Part of a Stock Sale
    43 mins
  • What is a Bramblett Transaction?
    58 mins
  • SMLLC or QSub?
    70 mins

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.

This Online CPE webinar for CPAs 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 Tax CE webinar will cover the following major topics:

Key Topics Covered in this Online CPE/CE Webinar:

  • 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.

Recommended For

  • This Online CPE/CE webinar be is recommended for the CPAs, EAs, Tax Preparers, and Other Tax Professionals whose client base involves a major portion of S-Corporation or its 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

Course Qualification

Webinar Qualifies For

  • 2 CE Credit of Taxes for Tax Professionals (Approval No. GEHNZ-T-00830-21-S)
  • 2 CE Credit of Taxes for Enrolled Agents (EA) (Approval No. GEHNZ-T-00830-21-S)
  • 2 CPE Credit of Taxes for Certified Public Accountants (CPA-US)
  • 2 CE Credit of Federal Tax Related Matters for California Registered Tax Preparers(CRTP) (Approval No. 6273-CE-0773)
  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)
  • 2 CE Credit of Taxes for Annual Filing Season Program (AFSP)

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.
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  • 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.
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Ratings and Review

4.5

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WT

Wayne Tront, EA

Dec 27th, 2021

Good Topic