Because advising the owners of S corporations comprises such an important element of most tax practices, tax practitioners should be very familiar with the rules governing the taxation of S corporation distributions. This course is a comprehensive discussion of the tax rules that apply to S corporation distributions, both liquidating and non-liquidating.
- Tax rules that apply to S corporation distributions
- How the presence of earnings and profits in the S corporation impacts the character of an S corporation distribution
- How distributions from the Accumulated Adjustments Account, the Previously Taxed Income Account, the Earnings and Profits Account, and the Other Account are taxed to S corporation shareholders
- Elections that can be made that result in a more favorable distributional tax effect
- Understand the taxation of S Corporation distributions
Any tax practitioner who wishes to understand the rules relating to S corporation cash and property distributions
Basic understanding of the tax rules impacting individuals and pass-through entities