Corporate Tax Planning: Strategies and Ideas Webcast | 4203116D STARTS AT 6:30 AM PDT

Date :
October 19, 2020 6:30 AM - 2:00 PM
Location :
Webcast
Facility :
Webcast Rebroadcast
Level of Difficulty :
Intermediate
Member Price :
289.00
Nonmember Price :
389.00
CPE Credits :
CPE 8.00, MCLE 6.50, IRS-TX 8.00, MCLE LS-TX 6.50, CTEC-TX 8.00
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Review a variety of tax subjects to effectively use a corporation to conduct a business.

Cover information with regard to deciding to make or not make an S corp election. Determining how to minimize double taxation while benefitting from lower corporate tax rates. Review topics such as the sale of the corporate business, stock redemptions, transfers of assets for stock, the risk of imposition of the personal holding company tax, and the accumulated earnings tax.

 

 

Objectives:

 
  • Identify the potential double tax system applicable to corporations and shareholders.
  • Determine the differences between the corporate and the individual tax rate structures.
  • Recall the tax law applicable to non-liquidating distributions, redemptions and liquidations.
  • Determine how to use tax deductible payments to shareholders to avoid double taxation, including the risk of constructive dividends.
  • Recall special rules related to stock losses.
 

Major Subjects:

 
  • Taxation of corporations and shareholders: potential double tax.
  • Tax deductible payments to avoid double tax.
  • Non-liquidating distributions, including constructive dividends.
  • Corporation and shareholder partnerships: lessening double tax.
  • Sales of corporate businesses.
  • Making or terminating the S corp election.
  • Stock sales using Section 1045, 1042 or 1202.
  • Losses on stock dispositions.
  • Tax planning using redemptions.
  • Risk of personal holding company or accumulated earnings tax.
  • Transfers of property for stock: Section 351
 

Advanced Prep:

 

None.

 

Misc. Information:

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

An understanding of the taxation of individuals, corporations, S corps and partnerships.

 
Designed For:
 

CPAs, attorneys and tax practitioners.

 

Instructors

John G McWilliams, CPA, 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:

  • Materials - ebook