Tax Issues for S Corps: Federal and State Tax Challenges, Planning Considerations for Taxpayers
Recording of a 90-minute premium CLE/CPE video webinar with Q&A
This CLE/CPE course will guide tax professionals on critical tax challenges and recent developments for S corporations. The panel will discuss key tax law regulations and developments impacting S corporations, IRS guidance, QBI deduction, issues of cash distributions, S corporation eligibility requirements and deferred compensation, and transfers of interest. The panel will also discuss pitfalls to avoid under current tax law and offer tax planning techniques for shareholders.
Outline
- Brief overview of tax challenges of S corps
- Impact of recent regulations and IRS guidance
- Challenges related to equity and incentive grants, options, etc.
- Transaction planning considerations
Benefits
The panel will review these and other key issues:
- What are the critical tax challenges of S corporations under current tax law?
- What issues arise for cash distributions, class of stock, deferred compensation, and transfers of interest?
- What are the factors to consider in determining whether to retain or elect S corp status or convert to C corp?
- Should considerations of Sec. 1202 be a part of the analysis?
- When selling equity interest in an S corporation, what are the pitfalls?
- Under what circumstances is an LLC or partnership entity choice preferred over an S corp?
- S corporation compliance with the Corporate Transparency Act
Faculty
Marcus E. Dyer, CPA, JD
Principal, Team Leader of Tax Controversy
Withum Smith+Brown
Mr. Dyer manages and reviews all aspects of federal and state tax compliance for C-corporation, S corporation and... | Read More
Mr. Dyer manages and reviews all aspects of federal and state tax compliance for C-corporation, S corporation and partnership returns, including consolidated C-corporation returns. He advises businesses on a wide array of tax matters including but not limited to reorganizations and employee benefits. He manages and reviews all aspects of the preparation of high net worth individual returns and conducts tax research on federal and state tax issues. He also handles tax controversies, including at the examination, appeals and collections stages.
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Nima Farzaneh
Partner
Nelson Mullins Riley & Scarborough
Mr. Farzaneh concentrates his practice on assisting businesses with domestic and international tax planning, tax... | Read More
Mr. Farzaneh concentrates his practice on assisting businesses with domestic and international tax planning, tax controversy and corporate matters, including entity structuring and governance, choice of entity (including partnerships, limited liability companies, S corporations, and C corporations), finance, tax optimization, reorganizations, mergers and acquisitions, joint ventures, private equity sales and executive compensation, and employee benefit matters. He also counsels clients on forming and investing in Qualified Opportunity Zone Funds and cryptocurrency and decentralized finance, as well as advises clients on cross-border transactions. Mr. Farzaneh also represents individuals and businesses in examinations and appeals before the IRS, U.S. Tax Court and State taxing authorities.
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