S Corporations Demystified
 

DVD - TABLE OF CONTENTS

E-BOOK included with DVD
           
           
DVD VIDEO E-BOOK
         
I. OVERVIEW   I. OVERVIEW
  Advantages      
  C Corps over S Corps Congressional Purpose
  S Corps over C Corps   Taxation of the S Corporation
  S Corps over Partnerships / LLCs   Shareholder Taxation
  Partnerships / LLCs over S Corps   Coordination with Subchapter C
  Audit Risks for S Corporations    
           
II. ELIGIBILITY   II. ELIGIBILITY  
           
  Small Business Corporation   A. Small Business Corporation
  Affiliated Corporations   Domestic Corporation
  Number of Shareholders   Ineligible Corporation
  One Class of Stock Limitation   Authorized Number of Shareholders
  Straight Debt Safe Harbor   One Class of Stock Limitation
  Eligible Shareholders   Eligible Shareholders
      Partnership of S Corporations
         
III. ELECTION   III. ELECTION  
           
  Statutory  Requirements   General
  Late Election   Time of Election
        Effective Date of Election
        Five-Year Restriction After Prior Termination
           
IV. TERMINATION IV. TERMINATION  
           
  Revocation   General
  Passive Investment Income Restriction   Effective Date of Termination
  Passive Gross Receipts   Allocations of Income on Termination
  Passive Rent   Special Timing Rules
  Managing the Problem   Revocation
  Inadvertent Termination   Passive Investment Income Restriction
        Active or Inactive Business
        Inadvertent Termination
           
V. TAXES IMPOSED ON THE
S CORP ORATION
V. TAXES IMPOSED ON THE
S CORPORATION
           
  Built-In Gains Tax   General Tax Treatment
  Example of  Built-In Gain Rules   Taxation of S Corporation
  Taxable Income Limitation      
  Practice and Planning      
  Excess Passive Investment Income      
           
VI. PASS-THROUGH INCOME VI. PASS-THROUGH INCOME
           
  Conduit Tax System   Conduit Tax System
  Net Operating Loss Deduction   Shareholder Treatment of Items
  Allocation of Income on Change of Ownership   Basis Adjustment for Shareholders
  Loss Limitation      
  Shareholders Loans      
  Passive Activity Losses      
  Losses After Termination      
  At Risk Limits      
  Transfer of Stock to Family Members      
  Compensation and FICA Taxes      
  Reasonable Salary      
  Restricted Section 83 Stock      
  No Double Taxation      
           
VII. DISTRIBUTIONS VII. DISTRIBUTIONS
           
  No Earnings and Profits ( E&P)   Treatment of Corporation Distributions
  With Earnings and Profits (E&P)      
  Accumulated Adjustments Account      
  Review: With and Without E & P      
  Post-Termination Transition Period      
           
VIII. LOAN REPAYMENTS VIII. LOAN REPAYMENTS
           
        Shareholder Paid More Than Basis-Gain
        Shareholder Paid Less Than Basis-Loss
           
IX. TAXABLE YEAR IX. TAXABLE YEAR
           
  Natural Business Year   General Rules
  Election of Taxable Year 444 Election   Deferral Prohibited Without a Business Purpose
      Automatic Business Purpose Test
      Taxable Year Selection Procedures
        Business Purpose Test
        Election of Taxable Year Other Than Required Taxable Year
        Required Payments Under Section 7519
         
X. SELECTED TOPICS
IN DEPTH
X. SELECTED TOPICS
IN DEPTH
           
  Subchapter C and Subchapter S Interface   Treatment of Fringe Benefits
  Treatment of Fringe Benefits   Treatment of Expenses Owed to Shareholders
  Interest Deductions   Interest Deductions
  Interest Deductions for Loans Intended  as Distributions   Cancelled Debt Income
  Borrowing to Buy S Corporation Stock   Expensed Property – Section 179
  Self-Charged Expenses   Transfers of Stock to Third Parties
  Cancelled Debt Income   Bequest of S Corporation Stock
  Section 179 – First Year Expense   S Corporation Shareholder’s Unused Losses Upon Disposition
  Stock Sale - Gain / Loss Character   Redemptions
  Allocated Income between Buyer and Seller   S Corporations Liquidations
  Bequest of S Corporation Stock   S Corporation Conversion to C With an Initial Public Offering
  Shareholder’s Unused Losses upon Stock Disposition   Shareholder Consistency
  Redemption   Tax Return of S Corporation
  Redemptions and S Corporations   Statute of Limitations
  Stock Purchase Treated as Asset Acquisition