Form 1120S Challenges for Tax Preparers
Navigating Computations-to-Adjustments Accounts and Determining Treatment of Dividends, Distributions and Fringe Benefits
Recording of a 110-minute CPE webinar with Q&A
This webinar will improve tax return preparers’ familiarity with issues and solutions for preparing specific parts of Form 1120S, including Schedule M-2 accumulated adjustments accounts, other adjustment accounts’ treatment of dividends and distributions, fringe benefits to shareholders, and health insurance issues.
Outline
- Flow through concept and basis of stock and loans
- The AAA Account in an S corporation
- Earnings and profits
- Distributions
- Fringe benefits
- Common mistakes
Benefits
Our panel will review these and other important issues:
- Key complexities in determining character and treatment of distributions by an S corporation.
- Accumulated adjustment accounts recommended approaches.
- Common mistakes to avoid when completing Form 1120S for clients.
Faculty
Matthew R. O'Kane
Shareholder
Lowndes Drosdick Doster Kantor & Reed
Mr. O'Kane has a broad background in federal tax, estate planning and U.S. taxation of foreign investors. He... | Read More
Mr. O'Kane has a broad background in federal tax, estate planning and U.S. taxation of foreign investors. He counsels clients on a broad range of federal tax issues and business planning issues from entity selection and formation to dissolutions. Mr. O’Kane also counsels clients on a broad range of wealth transfer issues including estates, gift and generation skipping transfer tax planning, irrevocable trust planning, charitable planning, and family limited partnerships.
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Amanda Wilson
Shareholder
Lowndes
Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety... | Read More
Ms. Wilson concentrates her practice on federal tax planning and structuring and represents clients in a wide variety of complex federal tax matters, with a particular emphasis on pass-through entities such as partnerships, S corporations and real estate investment trusts. Specifically, she focuses on advising clients on the formation, operation, acquisition and restructuring of pass-through entities.
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