Broadcast: S Corporation Update after Tax Reform

115  |  Course  |  Update  |  Scheduled

Description

This course addresses the S corporation rules that every CPA needs to know - from basics such as qualification of an entity as an S corporation and basis rules to hot topics such as the pass-through entity deduction and the new ability of nonresidents to be beneficiaries of a trust owning S corporation stock - to advanced topics such as special issues for trusts owning S corporation stock and tax planning using multiple types of entities including S corporations to achieve results not possible with a single entity type. Don't miss the discussion; don't miss the ideas.

Credits

Number of Credits Type of Credits
8.00 Taxes

Designed For

Public Practitioners and Industry CPAs

Highlights

  • Qualification as a Subchapter S corporation including restrictions on shareholders and the one class of stock rule
  • 199A, the pass-through entity deduction, as applied to S corporations
  • Reasonable compensation for S corporation owners and the impact on employment taxes and the net investment income tax
  • S corporation operations including the per share per day rule, basis rules, distribution rules and dealing with third-party debt for basis purposes
  • Inheritance of S corporation stock and special issues for trusts owning S corporation stock, including available elections and the new ability of non-residents to be permissible current beneficiaries of a trust owning S corporation stock
  • Tiered entity structures involving S corporations, including qualified Subchapter S subsidiaries, disregarded entities and using partnership entities including LLCs in conjunction with S corporations

Objectives

NA

Prices

Member (Early Bird)
$245.00
Non-Member (Early Bird)
$345.00
Member
$295.00
Non-Member
$395.00
Registration for this event has closed. If you have any question or concerns please give us a call at 615-377-3825 or send us an e-mail at registrar@tscpa.com

Instructors

Alan K. Davis, CPA, JD

Alan K. Davis, CPA, JD, is a partner with the law firm of Meadows, Collier, Reed, Cousins & Blau, L.L.P., based in Dallas, Texas. Mr. Davis' practice consists primarily of representing clients in all phases of their business and estate planning matters, as well as a substantial probate practice. Estate planning consists of designing and implementing documents, or a series of documents which will accomplish all of a client's objectives regarding the disposition of his or her estate. Estate planning also includes taking maximum advantage of the credits and exemptions from federal estate and gift taxes provided for under the Internal Revenue Code, as well as creatively reducing the extent to which an estate is subject to estate taxes. Business planning consists of counseling clients with respect to the establishment, operation and tax reporting requirements of his or her business and transactions. A primary emphasis of business planning is placed on the transfer of business interests to family members in the most tax efficient manner and providing the second (or third) generation with the best chance of continuing the family business. Mr. Davis' probate practice consists of representing executors in the administration and settlement of estates, and the preparation of federal and state estate and inheritance tax returns. Mr. Davis is a licensed Certified Public Accountant, and is Board Certified in Estate Planning and Probate Law by the Texas Board of Legal Specialization. Born in El Paso, Texas in 1963, Mr. Davis obtained his B.B.A. in Accounting from the University of Texas at El Paso in 1985. He then obtained his J.D. degree, cum laude, from the Texas Tech School of Law in 1988.

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James A. Smith, CPA

James A. Smith, CPA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas based, full service Certified Public Accounting firm. In his forty-four years of professional experience, he has performed audit engagements in real estate development and construction, investment partnerships, manufacturing, utilities, retail, transportation and health care. He has worked with companies ranging in size from large, multinational corporations to small, closely held businesses. He has also been engaged extensively in tax and financial planning consultations for closely held corporations and their owners. Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, as an elected member of its Executive Board and its Board of Directors. He served as an elected member of the AICPA Council 2007 through 2011 and is serving again from 2012 through 2015. He also served as an appointed member of the AICPA Accounting and Review Services Committee 2008 through 2011and is currently serving as an appointed member of the AICPA Tax Practice Responsibilities Committee.

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C. Clinton Davis, CPA, JD

C. Clinton Davis, CPA, JD, is a partner in the Dallas, Texas law firm of Krage & Janvey, LLP. He is a frequent presenter at continuing education programs for both accountants and lawyers, including not-for-profit organizations, partnership and real estate planning. He is the author of Texas Society of Certified Public Accountants (TSCPA) courses, Fundamentals of LLC and Partnership Taxation, and Tax Planning for Real Estate and Small Business. Clint is Board Certified in Tax Law by the Texas Board of Legal Specialization. He represents numerous pass-through and charitable entities. Clint has served as program chair or presenter on several ACPEN programs in the areas of tax, not-for profit and business entities.

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