S Corporation Taxation: Advanced Issues [SCA4]

Sep 19, 2023
Time: 08:30am-12:00pm



Credit Hours:



Member: $175.00
Non-member: $240.00

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Discussion Leader:

Susan Smith, CPA    more info

Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.

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Website registration for this course closes on September 18, 2023. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.

Full Description

S Corporation Taxation: Advanced Issues (SCA4)

September 19th, 2023 / 8:30 am 12:00 pm

Fireweed Conference Center
725 E Fireweed Lane
Anchorage, AK 99503

This course goes beyond the basics and addresses important practical issues that an experienced practitioner must know about S corporations.

Major Topics:
- Detailed rules governing basis in the shareholder's debt and stock
- Built-in gains incurred from the sale of assets
- Redemptions and liquidations
- Compensation planning for shareholders, including planning strategies under the SECURE Act
- Tax Cuts and Jobs Act of 2017 and the various stimulus acts, as applicable

Learning Objectives:
- Examine operational issues, keeping track of AAA, and how to calculate basis, apply distribution rules, and avoid loss limitations
- Describe corporate level taxes
- Describe the rules governing the redemption and liquidation of an S corporation
- Examine the issues in compensation planning in S corporations, including limitations in a family-controlled business, in particular after criticism of the Treasury Inspector General for Tax Administration of the IRS efforts to address underreporting of S corporation officer compensation
-Be familiar with the results of the case studies that reinforce key learning points

Designed For: Accounting and financial professionals whose practices include S corporations and their shareholders

CPE Credits: 4, Taxation

Level of Knowledge: Advanced

Prerequisite: Experience in S corporation tax return preparation

Acronym: SCA4

Discussion Leader: Susan Smith, CPA