Avoiding Tax Pitfalls in C-Corp to S-Corp Elections: Built-in-Gains, Earnings and Profits, Passive Income, and Other Issues
Recording of a 110-minute CPE/CLE webinar with Q&A
This webinar will equip tax counsel and advisors with the tools to advise C-Corporation clients of the benefits and potential tax drawbacks of terminating C-Corp status in favor of making an S election. The panel will dissect the necessary considerations involved and outline ways to minimize potentially negative tax consequences involved in an S conversion.
- Tax efficiencies and limitations of an S-Corporation conversion
- Elimination of corporate layer of tax
- S-Corporations and LLCs
- Pre-conversion factors to consider in advising clients
- Built-in gains tax
- Tax on excess passive income
- Tax on certain accumulated earnings and profits
- Treatment of existing corporate net operating losses
- Planning opportunities
- Timing of disposition of Section 1374 assets
- Pre-conversion distribution of earnings and profits
The panel will address these and other relevant questions:
- When is conversion to an S-Corporation more beneficial than a liquidation and re-incorporation into an LLC?
- What are the major tax traps that must be identified before converting from a C-Corporation into an S-Corporation?
- What steps can a C-Corporation take prior to conversion to minimize or eliminate negative tax consequences from an S election?
- What calculations must a C-Corporation make on assets and goodwill prior to making an S election?
Weiss & Company
Mr. Goluch has over 20 years of experience in public accounting. He has worked closely with a variety of clients in a... | Read More
Mr. Goluch has over 20 years of experience in public accounting. He has worked closely with a variety of clients in a diversified range of industries providing tax compliance and consulting services. Mr. Goluch's industry experience includes architecture, manufacturing, distribution, entertainment, construction, real estate, retail, not-for-profits and professional service orientated practices.Close
L. Andrew Immerman
Alston & Bird
Mr. Immerman concentrates on federal income tax matters, including domestic and international tax planning and... | Read More
Mr. Immerman concentrates on federal income tax matters, including domestic and international tax planning and transactional work for joint ventures, partnerships, limited liability companies and corporations. He has helped structure many sophisticated partnership and limited liability company transactions and has represented the target or the acquirer in numerous corporate mergers and acquisitions.Close
Mr. Vlahos has extensive experience in corporate, partnership and individual income taxation, and in estate and gift... | Read More
Mr. Vlahos has extensive experience in corporate, partnership and individual income taxation, and in estate and gift taxation, including tax planning, ruling requests, and tax controversy. He advises clients in connection with corporate and partnership organizations, operations and reorganizations; capital raises and debt restructurings; sales and acquisitions of businesses; distributions, redemptions, liquidations and spin-offs; S corporation issues; buy-sell agreements; state and local income, sales and transfer taxes; estate, gift and succession planning.Close
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