S Corporations Advanced Topics: Purchase and Sale of an S Corporation ON DEMAND
Available Until
Your Desk
4.0 Credits
Member Price $384.00
Non-Member Price $442.00
Overview
Before taking this course, the prospect of handling the purchase and sale of an S corporation, with its myriad tax implications and complex rules, might seem overwhelming. The differentiation between asset and stock sales, understanding various tax elections, and the complexities of installment sales can be confusing, making you hesitant in advising clients or making strategic decisions. After completing this online Webcast CPE course, you will experience a significant shift in your understanding and confidence. We bridge this gap by providing detailed insights into the S corporation transactions through a case study approach with the guidance of Robert Jamison, CPA, PhD. You’ll learn to differentiate between asset and stock deals, calculate the impact of installment sales, and understand the intricacies of special tax elections like Section 338(h)(10). Furthermore, the course will enable you to comprehend the due diligence required for S corporation stock purchases, making you adept in advising on these transactions. With this newfound expertise, you’ll be able to handle S corporation transactions with confidence, providing valuable insights and strategic guidance to your clients and firm.
Highlights
Gains and losses realized. Asset transfer. Stock transfer. Sale of assets. Purchaser’s tax consequences. Allocations. Effects of agreement.
Prerequisites
None.
Designed For
CPAs, EAs, CRTPs, and other tax professionals.
Objectives
Comprehend the basic rules of asset and stock sale/purchase transactions. Understand the residual method for allocating consideration in an asset transfer. Contrast the basis to the purchaser of the assets acquired in an asset deal and a stock deal. Calculate the effects of an installment sale on the timing of gain recognized by the corporation and the selling shareholders. Determine the treatment of a covenant not to compete, on the purchaser and the seller. Calculate the effects of a AAA bypass election and a complete liquidation of the target corporation. Understand the implications of the Section 338(h)(10) election, the Section 336(e) election and the Type F reorganization. Prepare forms for the Section 338(h)(10) and Qualified Subchapter S Subsidiary elections. Calculate the effects of these options on the purchasers and sellers of an S corporation. Comprehend the due diligence concerns for the purchaser of S corporation stock.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Robert Jamison
Robert W. Jamison, CPA, PhD, is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. His articles have appeared in various publications including: Practical Tax Strategies, Journal of Passthrough Entities, The Tax Adviser, Journal of S Corporation Taxation, and The Journal of Accountancy. Professor Jamison has taught many professional education programs for national and local accounting firms and has developed material used in their continuing education programs. He has been a lecturer in AICPA programs and has authored several AICPA tax courses. He is a chapter author in the Van-Griner Taxation Series of textbooks. He is a regular contributor to the Land Grant University Tax Education Foundation, Inc. National Income Tax Workbook. He presents advanced and update S Corporation seminars for various states’ CPA societies and to other professional organizations.
Non-Member Price $442.00
Member Price $384.00