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Surgent's Understanding S Corporation Taxation: Compensation Issues and Entity-Level Taxes

Friday, January 10
 9:00am - 11:00am

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2.00 Credits

Member Price $99.00

Non-Member Price $134.00

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.

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

Highlights

  • Reasonable compensation
  • Fringe benefits for S corporation shareholders
  • Built-in gains tax
  • Excess passive income tax
  • Notice 2020-75: PTE elections

Designed For

Tax and financial advisors with clients who have formed S corporations

Prerequisites

None

Preparation

None

Notice

To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.

Leader(s):

Leader Bios

David Peters, Peters Professional Education LLC

David R. Peters, CPA, CFP, CPCU, MST, MBA

David Peters is the Founder and Owner of David Peters Financial Group and Peters Tax Preparation & Consulting, PC. David has over sixteen years of experience in financial services, including 3 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 more than three years. Currently, David is a National Instructor for the AICPA, Surgent, and Kaplan. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four master’s degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. David was also a co-author of the 2018 Virginia CPA Ethics course – a required course for all CPA’s licensed in the Commonwealth of Virginia.

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Non-Member Price $134.00

Member Price $99.00