S Corporations: Tax Planning Ideas And Strategies | 4193119A

Date :
June 14, 2019 8:30 AM - 4:00 PM
Location :
San Francisco Peninsula
Facility :
CalCPA Boardroom - Burlingame
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Level of Difficulty :
Member Price :
Nonmember Price :
CPE Credits :
CPE 8.00, MCLE 6.50, IRS-TX 8.00, CTEC-TX 8.00
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Identify and discuss various tax planning opportunities related to the operation of a corporate business with an S corporation election.

Topics range from annual recurring planning to unusual transactions, such as stock redemptions and sale of the corporate business. Attendees will consider the 2017 Tax Cuts and Jobs Act changes such as the "qualified business income deduction" IRC 199A.

Materials are provided as an ebook.


  • Understanding the tax consequences of making the S corporation election to the corporation and shareholders.
  • Understand the application of the "qualified business income" deduction ( IRC 199A).
  • Determining the tax costs and benefits of making or terminating the S corporation election.
  • Identifying self employment / FICA - Medicare tax planning opportunities.
  • Understanding how to plan to minimize the impact of the loss limitation rules.
  • Identifying tax planning opportunities in years with losses and distributions.
  • Understanding tax planning ideas when the S election is terminated.
  • Determining the tax considerations related to buying or selling an S corporation.
  • Determining when to make the QSUB, Section 338(h)(10), or 336(e) elections.
  • Identifying tax planning opportunities at the death of the shareholder of an S corporation.
  • Recall ideas to accommodate a "non-qualified" investor.
  • Understanding the law related to trusts and tax exempt shareholders including ESOP's.
  • To be able to evaluate the risk of disqualification based on a second class of stock.
  • S corporation election compared to the Section 1202 stock tax incentive.

Major Subjects:

  • Overview of the taxation of corporations and shareholder including making the S corporation election
  • The decision to elect S corporation status—factors to consider
  • Explanation and analysis of the application of the "qualified business income deduction" (IRC 199A)
  • Self employment tax and S corporations
  • Distribution tax planning
  • Planning to minimize the impact of loss limitations
  • Tax planning for years with both distributions and losses
  • Termination Planning
  • Tax planning regarding transfer of appreciated assets to an S corporation
  • Buying and selling S corporations—tax planning ideas
  • Tax considerations of using the QSUB, Section 338(h)(10), or 336(e) elections
  • Tax issues to consider at death of S corporation shareholder
  • Stock redemptions as a tax planning tool
  • Accommodating a "non-qualified" investor
  • Trusts and tax exempt exempt shareholders
  • Second class of stock risks
  • S corporation election compared to Section 1202 stock incentive

Advanced Prep:


Misc. Information:

Wireless Internet access, lunch and discounted parking will be provided for this event and are included in your registration fee.

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Level of Difficulty:
Field of Interest:

Basic understanding of the taxation of corporations, S corporations and partnerships.

Designed For:

CPA's and attorneys.


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.”


  • Materials - Hardcopy Textbook
  • Materials - ebook