S Corporation Essentials: Reporting Shareholder Basis and More

Overview

This course will now be held at Nebraska Society of CPAs office in Lincoln.

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.

Highlights

Recent tax legislation, rules and developments impacting S corporations Shareholder stock and loan basis reporting on Form 1120S Schedule K-1. New Section 163(j) business interest expense limitation. Filing deadlines and extensions. New rules on meals and entertainment expense reporting. Issues in becoming an S corporation. Basis of stock and debt. AAA and distributions. Built-in gains tax.

Prerequisites

Basic working knowledge of S corporations.

Designed For

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.

Objectives

Upon completion of this course you will be able to: Apply the latest tax rules and regulations of S corporations. Discuss the new Section 199A rules and regulations and how their significant impact S corporations. Distinguish and define complex S corporation issues.

Preparation

None

Notice

Parking and lunch are provided on-site. This event is paperless. All materials will be available to download in advance and participants will receive an email two days prior to the course date. Materials will also be posted in the “My CPE” section of the NESCPA website.