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Course Description

This directed discussion, advanced-level course will review Sub-S corporations and LLCs taxed as a Sub-S. Discussion will cover formation, operation, contributions, and cash distributions. Recent changes in law or rulings will be emphasized. The materials will cover dissolution of a Sub-S corp and impact of shareholders’ choices on taxes. One example is the contribution of property to the corporation upon organization and its subsequent sale. The focus will be on closely-held corporations although the instructor may address all types of Sub-S corp questions. Primary class material will come from the course text, S Corporation Taxation. You will be working with facts and the tax consequences for shareholders and the Sub-S corporation.

Take a look at our online brochure.

IRS Program #4552U-T-00012-15-I

Who Should Attend

This is a dedicated tax school for business entities taxed as a Sub-Chapter S corporation.

Attend and You Will Receive

  • The course text: S Corporation Taxation
  • A certificate of completion from NC State University.
  • Recommended 16 hours of CPE credit

Prerequisites

There are no prerequisites or advanced preparation for this course.

Attend and You Will Learn / Expected Outcome

Expected Outcomes

Upon completion of this course, participants will be able to:

  • Understand the basic eligibility rules
  • Apply the late election relief rules
  • Comply with IRS policy and judicial rules regarding compensation of shareholder-employees
  • Use new and old, but still valid, basis planning techniques
  • Comprehend the relationship of the net investment income tax to S corporation shareholders
  • Gain awareness of the built-in gains tax
  • Develop strategies for using subsidiary corporations
  • Compare options for structuring the purchase or sale of an S corporation 

Notes / Additional Information

About your instructor:

Robert W. Jamison, CPA, Ph.D. is Professor Emeritus of Accounting at Indiana University, Purdue University,Indianapolis (IUPUI). He worked as senior manager in Ernst & Young’s Washington National Tax practice. 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. Professor Jamison has taught and developed material for professional education programs for national and local accounting firms. He has been a lecturer in AICPA programs and is the author of several AICPA tax courses. He is a chapter author in the Van-Griner Taxation Series of textbooks and a regular contributor to Land Grant University Tax Education Foundation, Inc.'s National Income Tax Workbook. He is a frequent speaker at the Indiana Tax Institute, as well as at tax conferences sponsored by other states’ CPA societies.

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