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Understanding S Corporation Taxation: Compensation Issues and Entity-Level Taxes (SCC2)

Friday, November 22, 2024
02:00 PM - 04:00 PM (Eastern)

Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

  • Format Webinar
  • Credits 2.00
  • Level Intermediate
  • Field of Study Taxes (2)

$99.00


Overview

Even though they have been around for several years, the tax laws pertaining to S corporations remain some of the more difficult areas of the Internal Revenue Code. In this course, we will examine how S corporations break away from the normal tax rules for flow-through entities. We will explore which employee benefits are disallowed for S corporation shareholders, as well as which taxes are assessed at the entity level. Finally, we will discuss how state level taxation may have changed permanently with the addition of PTE elections.

Major Topics:

  • Reasonable compensation
  • Fringe benefits for S corporation shareholders
  • Built-in gains tax
  • Excess passive income tax
  • Notice 2020-75: PTE elections

Learning Objectives

  • Recognize the factors to consider when evaluating the reasonableness of S corporation shareholder compensation
  • Recall which fringe benefits will result in additional W-2 income for S corporation shareholders
  • Calculate the built-in gains tax and excess passive income tax
  • Identify the federal income tax implications of a PTE election at the state level

Who should take this course:

Tax and financial advisors with clients who have formed S corporations

None

None

Yes

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