BarbriSFCourseDetails
  • videocam On-Demand
  • signal_cellular_alt Intermediate
  • card_travel Tax Law
  • schedule 90 minutes

Tax Issues for S Corps: Federal and State Tax Challenges, Planning Considerations for Taxpayers

$347.00

This course is $0 with these passes:

CLE
CPE
ALL
  1. keyboard_arrow_leftBack
BarbriPdBannerMessage

Description

S corporations provide significant advantages to shareholders by pass-through taxation. However, tax professionals often fail to recognize crucial distinctions from other pass-through entities and critical issues under current tax law and other recent developments.

Listen as our panel of CPAs and tax attorneys examines the different tax issues of the S corporation that create problems for professionals, whether to retain S corporation status, elect S corporation status and/or convert to C corporation status, the impact of business interest limitations, and a host of other vital issues.

Presented By

Marcus E. Dyer
Principal, Team Leader of Tax Controversy
Withum Smith + Brown, PC

Mr. Dyer manages and reviews all aspects of federal and state tax compliance for C-corporation, S corporation and partnership returns, including consolidated C-corporation returns. He advises businesses on a wide array of tax matters including but not limited to reorganizations and employee benefits. He manages and reviews all aspects of the preparation of high net worth individual returns and conducts tax research on federal and state tax issues. He also handles tax controversies, including at the examination, appeals and collections stages.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Nima Farzaneh
Partner
Nelson Mullins Riley & Scarborough LLP

Mr. Farzaneh concentrates his practice on assisting businesses with domestic and international tax planning, tax controversy and corporate matters, including entity structuring and governance, choice of entity (including partnerships, limited liability companies, S corporations, and C corporations), finance, tax optimization, reorganizations, mergers and acquisitions, joint ventures, private equity sales and executive compensation, and employee benefit matters. He also counsels clients on forming and investing in Qualified Opportunity Zone Funds and cryptocurrency and decentralized finance, as well as advises clients on cross-border transactions. Mr. Farzaneh also represents individuals and businesses in examinations and appeals before the IRS, U.S. Tax Court and State taxing authorities.

expand_circle_down Expand to View Full Bio expand_circle_up Collapse Bio
Credit Information

  • This 90-minute webinar is eligible in most states for 1.5 CLE credits.

  • BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.

  • BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).


  • Live Online


    On Demand

Date + Time

  • event

    Monday, November 25, 2024

  • schedule

    1:00 p.m. ET./10:00 a.m. PT

  1. Brief overview of tax challenges of S corps
  2. Impact of recent regulations and IRS guidance
  3. Challenges related to equity and incentive grants, options, etc.
  4. Transaction planning considerations

The panel will review these and other key issues:

  • What are the critical tax challenges of S corporations under current tax law?
  • What issues arise for cash distributions, class of stock, deferred compensation, and transfers of interest?
  • What are the factors to consider in determining whether to retain or elect S corp status or convert to C corp?
  • Should considerations of Sec. 1202 be a part of the analysis?
  • When selling equity interest in an S corporation, what are the pitfalls?
  • Under what circumstances is an LLC or partnership entity choice preferred over an S corp?
  • S corporation compliance with the Corporate Transparency Act

Learning Objectives

After completing this course, you will be able to:

  • Identify key tax challenges of S corporations under current tax law
  • Recognize the impact of the SECURE Act and IRS guidance on S corporations
  • Ascertain methods in handling tax issues for cash distributions, class of stock, deferred compensation, and transfers of interest
  • Ascertain practices to overcome problems relating to determining QBI deduction for S corporations
  • Understand the impact of Sec. 163(j) limitations and carried interest regulation
  • Field of Study: Taxes
  • Level of Knowledge: Intermediate
  • Advance Preparation: None
  • Teaching Method: Seminar/Lecture
  • Delivery Method: Group-Internet (via computer)
  • Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
  • Prerequisite: Three years+ business or public firm experience at mid-level within the organization, preparing complex tax forms and schedules, supervising other preparers/accountants. Specific knowledge of Subchapter S rules and operations; familiarity with passive income rules and concept of built-in gain.

BARBRI 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.

IRS Approved Provider

BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .