Webcast: Buying and Selling S Corporations: Tax Planning

Buying or selling an interest in a closely held corporate business is a very important transaction for the selling shareholders and buyers. CPAs must be well-prepared to advise their clients, whether they are the sellers or buyers.  The unique tax characteristics of an S corporation must be carefully considered to accomplish the best possible tax result. This course will consider buyer and seller perspectives, relevant law, tax planning opportunities, pitfalls to avoid and necessary compliance issues.  Understanding the significance of special subchapter S law is key to a successful transaction. In this course, you'll review the rules related to determining stock basis of an S corporation, treatment of suspended losses, distributions, accumulated adjustment account, the built-in gain tax, excess net passive income tax, allocation of income and losses related to changes in ownership of an S corporation and tax treatment of S corporation election terminations. The acquisition of the business by existing shareholders makes the application of stock redemptions to S corporations a very important alternative to understand.