S Corporations Owning Multiple Entities: Mastering Tax Reporting and Planning Opportunities

BarbriSFCourseDetails

Course Details

Course Information

smart_display Format
On-Demand
signal_cellular_alt Difficulty Level
Intermediate
work Practice Area
Tax Preparer

Date & Time

event Date
Tuesday, May 6, 2025
schedule Time
1:00 p.m. ET./10:00 a.m. PT
timer Program Length
110 minutes

Credit Information

BARBRI is a NASBA CPE sponsor and this 110-minute webinar is accredited for 2.0 CPE credits.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).

$197.00

CPE

ALL

This course will provide tax advisers with a practical guide to the planning and reporting issues and opportunities that arise when an S corp owns multiple entities under common control. The panel will discuss the ramifications of an S corp owning more than one LLC or partnership, as well as S corps operating in tandem to hold multiple entities. The event will detail the specific reporting requirements of these types of arrangements, including reconciliation of intracompany transfers, and will offer guidance as to the tax impact of various multi-entity structures under an S corp umbrella.

Faculty

Robert W. Jamison

Professor Emeritus of Accounting

Indiana University

Mr. Jamison is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is a regular contributor to Land Grant University Tax Education Foundation, Inc. National Income Tax Workbook and has contributed to Federal Tax Workshop. He presents advanced and update S Corporation seminars for various states' CPA societies and to other professional organizations. He is a member of the AICPA S Corporation Technical Resource Panel. He consults on S corporation and other business entity problems and has secured letter rulings from the IRS.

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Kevin J. Walsh

Director/Vice-President

Walsh, Kelliher & Sharp, CPAs, APC

Mr. Walsh special interest is in advising the owners of closely-held businesses. This interest has led to experience and expertise in assisting closely-held business owners at every stage in the lifecycle of a business—from formation, strategic planning, expansion through acquisitions and mergers, as well as succession and transition planning, including business sales, redemptions and liquidations.

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Description

Owners of multiple business lines frequently elect to segment individual business units, often under the umbrella of an S corporation. Whether for liability protection reasons, branding strategies, or other tax or business reasons, S corp owners will often set up separate entities, with the S corp serving as either a parent or a holding company.

Because of S corporation requirements to make equal distributions per share to all shareholders, setting up LLCs or other entities under an S corp umbrella can allow business units to adjust income allocations to stay within the S corp distribution rules. These types of arrangements often work very well for real estate developers and professional service corporations.

Tax professionals must be well-versed on the reporting issues unique to multiple business structures involving S corporations. Tracking intracompany transfers and transactions and ensuring that neither the downstream nor upstream entities inadvertently jeopardizes the company's S corp election are just two of the critical tasks for tax advisers serving multiple entities under an S corp umbrella.

Listen as our experienced panel provides a thorough and comprehensive guide to the tax nuances of multiple entities owning S corporations.

Outline

Types of multiple structures under S corp umbrella to compartmentalize business units
Holding/operating company structure
Parent/child corporate structure
Tracking and reporting intracompany transfers
When subsidiary partnerships need to file tax returns

Benefits

The panel will review these and other important issues:

S corps having holding companies for LLCs and partnerships
Creating a reconciliation worksheet for multiple entities reporting up to an S corp
Merger and acquisition issues involving S corporations acquiring other S corps
Reporting issues for multiple business structures

NASBA Details

Learning Objectives

After completing this course, you will be able to:

Determine types of structures found under the S corporation umbrella
Identify M&A issues when S corporations acquire other entities
Decide how multi-level entities can alleviate distribution issues
Ascertain when subsidiary partnerships must file tax returns

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 preparing complex tax forms and schedules, supervising other preparers or accountants. Specific knowledge and understanding of pass-through taxation, including taxation of partnerships, S corporations and their respective partners and shareholders.

Strafford Publications, Inc. 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.