Take advantage of the S Corp rules using the latest business and tax strategies. The numerous examples and practice tips in the Guide will help you to illustrate and explain to your clients the advantages and disadvantages of incorporating and operating as an S Corp.
The Guide covers the complete S Corp life cycle including:
Elections, Terminations and Revocations
Passthrough of Losses and Credits
How To Determine Whether an S Corporation Is Subject to Tax
Built-In Gains Tax
Business Credit Recapture
Carryover of Losses
Reasonable and Excessive Compensation
Section 1244 Stock
New and updated sections cover:
Provisions of the American Taxpayer Relief Act of 2012 (ATRA)
Final regulations that simplify how shareholders obtain debt basis, by eliminating the "actual economic outlay" requirement
Simplified relief from late filing of S elections
Qualified private delivery services covered under the proof of delivery rule.