S Corporations: Special Tax Challenges
Confronting the Key Issues of Basis Rules, Business Structure, Payroll-Taxable Wages, Contributions and Distributions
Recording of a 110-minute premium CLE/CPE webinar with Q&A
This teleconference will provide tax advisors with an overview of frequently misunderstood and often overlooked tax considerations affecting S Corporations. The panel will explain the key differences between S-Corps vs. LLCs and partnerships.
Outline
- S Corporation requirements and business structure
- Requirements overview
- Section 83—phantom stock
- S subsidiaries
- Contributions
- Basis tracking
- Related entities
- Open account issues
- Payroll taxable wages
- Distributions
Benefits
The panel will review these and other key questions:
- How does the IRS distinguish reasonable wage compensation from residual net operating income flowing through to the S Corporation shareholder/employee?
- What is the difference between S Corporation and partnership treatment of entity-level debt in the owner's outside basis in the ownership interest?
- How do you comply with the new Open Account Debt rules?
- When selling equity interest in an S Corporation, what pitfalls should you be aware of?
- Under what circumstances are an LLC or partnership entity choice preferred over an S Corp?
Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.
Faculty

Robert S. Barnett, JD, MS (Taxation), CPA
Partner
Capell Barnett Matalon & Schoenfeld
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and... | Read More
Mr. Barnett’s practice is highly concentrated in the areas of taxation, trusts, estates, corporate and partnership law and charitable planning. His experience includes surrogate’s court practice, tax dispute resolution in both federal and state jurisdictions, and tax court representation. Mr. Barnett frequently assists clients in structuring financial transactions and charitable gifts. His articles and lectures encompass a wide variety of topics, including business succession, estate planning, generation-skipping, stock options, effective strategies for removing tax liens, proper utilization of the marital deduction and utilization of partnership elections.
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Renato Matos
Partner
Capell Barnett Matalon & Schoenfeld
Mr. Matos' practice concentrates on corporate, taxation and real estate law, including stock... | Read More
Mr. Matos' practice concentrates on corporate, taxation and real estate law, including stock purchases/sales, asset purchases/sales, mergers and acquisitions, corporate governance and entity formation, with a particular focus on tax structuring and strategic business planning.
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