Frequency of Updates:
PPC's Tax Planning Guide — S Corporations explains the tax consequences of electing and maintaining S status, operating the S corporation, and terminating the S election. It covers other tax issues, too, such as reorganizing the corporation, maintaining a QSub subsidiary, redeeming S stock, or liquidating the S corporation.
The Guide also addresses owner issues, such as maximizing the shareholder's basis in stock and debt, making distributions in the most tax-efficient manner, and estate planning for S shareholders.
Since many of the issues encountered when responding to client questions or planning transactions go beyond the S corporation provisions of the Code (Subchapter S), the Guide addresses operational issues too, such as electing and maintaining a fiscal tax year, using the cash method of accounting, and passing through the Section 179 deduction, among others. The Guide also provides an entire chapter on fringe benefits, deferred compensation plans, and qualified retirement plans, with an emphasis on the special rules applicable to S corporations and 2% shareholders.
The Guide's detailed discussion of tax methods allows the corporation, and therefore the taxpaying shareholders, to control the timing of income and deductions to minimize the tax burden on the year to year operations.
The chapters are written and updated by experienced practitioners, with the concepts illustrated by hundreds of real-life examples. The Guide also includes checklists, worksheets, elections, and other practice aids to promote an efficient and knowledgeable approach to handling transactions that clients are contemplating or have completed.
And to help you and your staff transition from tax compliance to tax planning, the Guide includes a tax planning roadmap. By reviewing a client's (or potential client's) Form 1120S or Schedule K-1, you can identify potential planning strategies that can be used as a starting point for further discussions with the client.
Tax planning can solidify your relationship with your clients and save them thousands of dollars. PPC's Tax Planning Guide — S Corporations is the one resource you need to efficiently and effectively provide tax planning services to your S corporation clients and their shareholders throughout the year.
- Tax Planning for S Corporations
- INTRODUCTORY MATERIAL
- Chapter 1 Eligibility
- Chapter 2 Election
- Chapter 3 Termination
- Chapter 4 Taxation of S Corporations
- Chapter 5 Pass-through to Shareholders
- Chapter 6 Basis and Losses
- Chapter 7 Distributions
- Chapter 8 Passive Activity Losses
- Chapter 9 Tax Years, Accounting Methods, and Strategies for Saving Taxes
- Chapter 10 Fringe Benefits and Retirement Plans
- Chapter 11 Reorganizations and Recapitalizations
- Chapter 12 Qualified Subchapter S Subsidiaries
- Chapter 13 Dispositions of Stock and S Corporation Property
- Chapter 14 Redemption of Stock
- Chapter 15 Liquidation
- Chapter 16 Estate Planning For S Shareholders
- Appendix A Roadmap to S Corporation Tax Planning