Understand the requirements that must be met in order for companies to operate as S corporations.
S Corporations are a powerful tax efficiency vehicle with the savings of Social Security and Medicare taxes, but there are considerations. The webinar will discuss the several reasons why an S Corporation does not make sense but will also highlight ways around some of the rigidity. Next, we will take a deep dive into reasonable shareholder salary which poses one of the largest challenges for tax professionals. Finally, we will wrap up with accountable plan reimbursements, nomadic owners, and revoking the S Corp election.
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Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Agenda
S Corp Benefits
- Downsides With States
- Pitfalls With Sep IRA / 401K
S Corp Elections
- S Corp Eligibility
- Late Elections
- Qsub
Multi Entity Structures, Flexible Profit Splits, Autonomy
Reasonable Compensation
- Theory
- Tax Court Cases
- How to Approach
- Rc Reports
- W-2 Conversion
- Qbid Optimization
Fringe Benefits (Health, HSA, HRA, Di, LTC, Automobile)
Distributions, Timing
Accountable Plan Reimbursements, Home Office Limits
Adding Spouse, Kids to Payroll
Nomadic S Corp Owners
Expat S Corps
Revoking S Corp
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Credits
OnDemand Course
This course was last revised on November 14, 2023.
Call 1-866-352-9540 for further credit information.
- AIPB 2.0
- This program is acceptable for 2.0 CPEC(s) towards the CB designation through the American Institute of Professional Bookkeepers (AIPB).
- AR CLE 1.5
- This course has been approved for 1.5 hours of CLE by the Arkansas CLE Board.
- Arizona CLE 1.5
- The Arizona State Bar does not pre-approve or pre-certify MCLE programs. However, records of this program and attendance will be maintained by Lorman Education Services for auditing purposes. This activity may qualify for up to 1.5 hours toward your annual CLE requirement for the State Bar of Arizona.
- CA MCLE 1.5
- Lorman Education Services is a State Bar of California approved MCLE sponsor and this course qualifies for 1.5 CLE hours of participatory credit.
- CT CLE 1.5
- Neither the Connecticut Judicial Branch nor the Commission on Minimum Continuing Legal Education approve or accredit CLE providers or activities. This course has been approved for CLE credit in jurisdictions aside from CT and therefore it automatically meets the content and delivery requirements in Connecticut. Credit is based on a 60 minute credit hour and shall be awarded as follows: 1.5 CLE credit(s).
- GA CLE 1.5
- This program has been approved by the Georgia Commission on Continuing Lawyer Competency for 1.5 CLE hours.
- HI CLE 1.5
- This program was approved by the Hawaii State Board of Continuing Legal Education for 1.5 CLE credit hours.
- MO CLE 2.0
- This course qualifies for self-study CLE credit in Missouri.
- NH MCLE 1.7
- NH MCLE does not approve or accredit CLE activities for the NH Minimum CLE requirement. Lorman Education Services believes this Ondemand course meets the requirement of NH Supreme Court Rule 53 and may qualify for CLE credit(s). Program Length: 101 Minutes.
- PA CLE 1.5
- This Distance Learning program has been approved by the Pennsylvania Continuing Legal Education Board for 1.5 hours of substantive law, practice and procedure CLE credit.
- RI CLE 2.0
- This program has been approved by the Rhode Island Mandatory Continuing Legal Education Commission for 2.0 hours of CLE credit.
- VT CLE 1.5
- This self-study program has been approved by the Mandatory Continuing Legal Education Board of Vermont for 1.5 hour(s) of CLE credit. Please note: Attorneys may only claim 12 credits per compliance period in this format. This course is considered "Non-Moderated Programming without Interactivity".
- WV MCLE 2.0
- This program has been approved by the West Virginia State Bar MCLE Commission for 2.0 MCLE hours.
To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.
This program does NOT qualify, nor meet the National Standard for NASBA accreditation.
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
Faculty
Jason Watson, CPA
WCG Inc.
Jason Watson, CPA, Partner
- Partner in the office of WCG CPAs & Advisors, a boutique small business accounting firm
- Practices as a small business consultant specializing in LLCs and S Corporations including entity structure, self-employment taxes, and retirement planning
- Author of Taxpayer’s Comprehensive Guide to LLCs and S Corporations
- Presented several webinars on general S Corporations but has also presented specifically on reasonable compensation, S Corporations for medical groups, and home office issues
- Experience as an expert witness and provides litigation support for general business matters including business valuations
- Can be contacted at [email protected] and 719-428-3261
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Credit
More Program Information
Why Lorman?
Over 37 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.
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- OnDemand Courses
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- State Specific Credit Tracker
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