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Provided by: Lorman Education Services S Corporations: How to Avoid 5 Common Pitfalls |
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Training
Provided by Lorman Education Services
S Corporations: How to Avoid 5 Common Pitfalls - As many practitioners will attest to, there are many pitfalls when S corporations are involved. This teleconference will identify the most common pitfalls, such as not properly maintaining earning accounts, ineligible shareholders, the one class of stock principle, invalid or missing S Corporation elections, and built-in gain. You ll not only learn how to identify these pitfalls, but you ll also get practical tips on dealing with them.
Related Awards, Degrees or Certifications: ,AIPB ,BOMI ,CFP ,CLE (Please check the Detailed Credit Information page for states that have already been approved) ,CPE ,Enrol
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S Corporations: How to Avoid 5 Common Pitfalls
I. Not Properly Maintaining Earning Accounts
A. Review the Five Earning Accounts of an S Corporation
B. The Importance of the M-2 Schedule
C. Reconciling M-2 to Retained Earnings and Shareholder Basis
D. Calculating E&P
II. Ineligible Shareholders
A. Who Is and Who Is Not an Eligible Shareholder?
B. Ways to Guard Against Eligible Shareholders
C. Eligible Trusts
III. Violating the One Class of Stock Principle
A. Definition of Principle
B. Straight Debt Safe Harbor
C. What Violates the Principle?
IV. Invalid or Missing S Corporation Election
A. What Constitutes a Proper Election?
B. How to Cure a Missing or Invalid Election
V. Built-In Gain
A. Defining B.I.G.
B. How to Reduce or Eliminate B.I.G.
C. How to Plan for B.I.G.
D. Common Unavoidable B.I.G. Items
A. Review the Five Earning Accounts of an S Corporation
B. The Importance of the M-2 Schedule
C. Reconciling M-2 to Retained Earnings and Shareholder Basis
D. Calculating E&P
II. Ineligible Shareholders
A. Who Is and Who Is Not an Eligible Shareholder?
B. Ways to Guard Against Eligible Shareholders
C. Eligible Trusts
III. Violating the One Class of Stock Principle
A. Definition of Principle
B. Straight Debt Safe Harbor
C. What Violates the Principle?
IV. Invalid or Missing S Corporation Election
A. What Constitutes a Proper Election?
B. How to Cure a Missing or Invalid Election
V. Built-In Gain
A. Defining B.I.G.
B. How to Reduce or Eliminate B.I.G.
C. How to Plan for B.I.G.
D. Common Unavoidable B.I.G. Items
About The Training Provider: Lorman Education Services
Lorman Education Services - Lorman Education is dedicated to providing cost-effective training opportunities that meet the needs of our members and enhance their skills, knowledge, and competencies.
Please use Priority Code 16175 when registering.
Lorman Education Services began offering continuing education seminars in 1987.
Lorman Education is dedicated to providing cost-effective training opportunities that...
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