S Corporations: Converting to C Corporation Webcast | 4173334B

Date :
December 18, 2017 10:00 AM - 12:00 PM
Location :
Webcast
Facility :
Webcast Rebroadcast
Level of Difficulty :
Overview
Member Price :
70.00
Nonmember Price :
94.00
CPE Credits :
CPE 2.00, MCLE 1.50
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Electing S corporations may find it desirable or necessary to terminate the S corporation election converting to a "C corporation. This course considers situations when such a conversion is desirable. Tax planning opportunities and complications at conversion are identified and discussed. Limitations on re-electing S corporation status are discussed and evaluated. Recent and/or pending legislation will be considered.

Materials are provided as an ebook for this course.

Objectives:

  • Discuss and analyze situations where terminating an S corporation election could be desirable.
  • Consider common situations where S election may involuntarily terminate.
  • Understand the process and tax planning opportunities related to a voluntary revocation.
  • Evaluate complication related to mid-year termination of S corporation status.
  • Discuss and evaluate limitations on re-electing S corporation status.
  • Consider recent and proposed legislation which could affect the decision to terminate the S corporation election

Major Subjects:

  • Reasons to terminate an S corporation election
  • Involuntary terminations
  • Voluntary revocations the process and the consequences
  • Tax planning opportunities related to termination of S corporation status
  • Complications arising from a mid-year termination
  • Limitations on re-electing S corporation status
  • Recent or proposed legislation affecting decision to terminate the S corporation election

Advanced Prep:

None.

Misc. Information:

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Level of Difficulty:
Overview
Field of Interest:
Taxes
Prerequisites:

Understanding the basics of taxation of corporations, S corporations and partnerships.

Designed For:

CPAs and attorneys with at least two years of experience advising privately owned businesses.

Instructors

John G McWilliams, CPA, Esq, Esq.

John McWilliams, CPA, Esq. is professor of accounting at Golden Gate University. Previously he was a professor of accounting at San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 30 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. His areas of expertise include tax issues related to buying and selling privately-held businesses, financially-troubled businesses, business restructuring and reorganization, and ownership succession to employees or family members.

McWilliams has been active in CalCPA, having served as president of the San Francisco Chapter, chair of the Financial Literacy Initiative, member of the CalCPA Board of Directors serving as Vice Chair, and member of the Accounting Education Committee. He has served as a California representative to the AICPA Council, and as a member of two AICPA Tax Division Technical Resource Panels (Corporations, and Shareholders and Partnerships). McWilliams is the original author of two chapters of the CCH Expert Treatise Library: “Federal Taxation of Corporations,” and “Shareholders.”

No Agenda or Materials posted.