S Corporations: Stock & Loan Basis & More
This program addresses the critical issues and special opportunities facing S corporations, with a focus on the new IRS guidelines on shareholder stock and loan basis reporting. The impact of recent legislation on the tax structure of S and C corporations will be addressed, as well as the significant impact of the new Section 199A flow-through entities deduction on S corporations.
- Recent tax legislation, rulings and developments affecting Partnerships and LLCs
- Basis and capital account reporting on Form 1065 Schedule K-1
- The impact of the Section 199A deduction on partnerships and LLCs
- New Section 163(j) interest expense deduction
- New rules on meals and entertainment expense reporting
- Transportation fringe benefits
- New partnership audit rules
- Opportunity zone
- Section 754 self-employment tax
Upon completion of this course you will be able to:
- Define the tax consequences and various liabilities for both partnerships and LLCs
- Discuss the impact of the new Section 199A deduction on partnerships
- Apply planning opportunities and potential pitfalls
Experienced practitioners with S corporation clients and members in industry working for an S corporation or those seeking and update on thorny S corporation issues.