S-Corporations Owning Multiple Entities: Mastering Tax Reporting and Planning Opportunities

Reconciling Intracompany Transfers, Utilizing S-Corp Parent-Sub Structures, Allocating Income Using LLCs

Recording of a 110-minute CPE webinar with Q&A


Conducted on Tuesday, May 10, 2016

Recorded event now available

or call 1-800-926-7926
Program Materials

This webinar will provide tax advisers with a practical guide to the planning and reporting issues and opportunities that arise when an S-corp owns multiple entities under common control. The panel will discuss the ramifications of an S-corp owning more than one LLC or partnership, as well as S-corps operating in tandem to hold multiple entities. The event will detail the specific reporting requirements of these types of arrangements, including reconciliation of intracompany transfers, and will offer guidance as to the tax impact of various multi-entity structures under an S-corp umbrella.

Description

Owners of multiple business lines frequently elect to segment individual business units, often under the umbrella of an S-corporation. Whether for liability protection reasons, branding strategies, or other tax or business reasons, S-corp owners often will set up separate entities, with the S-corp serving as either a parent or a holding company.

Because of S-corporation requirements to make equal distributions to all shareholders, setting up LLCs or other entities under an S-corp umbrella can allow business units to adjust income allocations to stay within the S-corp distribution rules. These types of arrangements often work very well for real estate developers and professional service corporations.

Tax professionals must be well-versed on the reporting issues unique to multiple business structures involving S-corporations. Tracking intracompany transfers and transactions and ensuring that neither the downstream nor upstream entities inadvertently jeopardizes the company’s S-corp election are just two of the critical tasks for tax advisers serving multiple entities under an S-corp umbrella.

Listen as our experienced panel provides a thorough and comprehensive guide to the tax nuances of multiple entities owning S-corporations.

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Outline

  1. Types of multiple structures under S-corp umbrella to compartmentalize business units
  2. Holding/operating company structure
  3. “Parent/child corporate structure”
  4. Tracking and reporting intracompany transfers
  5. When subsidiary partnerships need to file tax returns

Benefits

The panel will review these and other important issues:

  • S-corps having holding companies for LLCs and partnerships
  • Creating a reconciliation worksheet for multiple entities reporting up to an S-corp
  • Merger and acquisition issues involving S-corporations acquiring other S-corps

Faculty

Watson, Jason
Jason Watson, EA, MBA

Managing Partner
Watson CPA Group

Mr. Watson advises small business owners in creating a map for the future. His focus is on S corporations,...  |  Read More

Jamison, Robert
Robert W. Jamison, CPA
Professor Emeritus of Accounting
Indiana University, Kelley School of Business

Mr. Jamison is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His...  |  Read More

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