Webcast: Surgent's Understanding S Corporation Taxation: Compensation Issues and Entity-Level Taxes
2.0 Credits
Member Price $75.00
Non-Member Price $100.00
Overview
Even though they have been around for several years, the tax laws pertaining to S-corporations remain some of the more difficult areas of the Internal Revenue Code. In this course, we will examine how S-corporations break away from the normal tax rules for flow-through entities. We will explore which employee benefits are disallowed for S-corporation shareholders, as well as which taxes are assessed at the entity level. Finally, we will discuss how state level taxation may have changed permanently with the addition of PTE elections.
Highlights
- Reasonable compensation
- Fringe benefits for S corporation shareholders
- Built-in gains tax
- Excess passive income tax
- Notice 2020-75: PTE elections
Prerequisites
None
Designed For
Tax and financial advisors with clients who have formed S corporations
Objectives
- Recognize the factors to consider when evaluating the reasonableness of S corporation shareholder compensation
- Recall which fringe benefits will result in additional W-2 income for S corporation shareholders
- Calculate the built-in gains tax and excess passive income tax
- Identify the federal income tax implications of a PTE election at the state level
Leader(s):
Leader Bios
David Peters, CPA, CFP, CLU, CPCU, MST, Surgent McCoy CPE, LLC
David Peters is the founder and owner of Peters Tax Preparation & Consulting in Richmond, VA, and a Financial Advisor for Peters Financial, LLC. He has over fifteen years of financial services experience, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Kaplan, and Surgent and was a recipient of Surgent’s Outstanding Discussion Leader award for 2019. He regularly teaches accounting, finance, insurance, financial planning, and ethics throughout the United States. He is the advisor for Business & Industry topics for the SC Association of CPAs and was a recipient of The American College’s 2019 NextGen Financial Services Professional Award. He holds four Master’s degrees and is currently pursuing his Ph.D. in Financial Planning. He regularly contributes to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018, 2019, and 2020 versions of the Virginia CPA Ethics course – a required course for all CPAs licensed in the Commonwealth of Virginia.
Non-Member Price $100.00
Member Price $75.00