S Corp A to Z - Part 3 FLEXCAST
Available Until
Your Desk
2.0 Credits
Member Price $98.00
Non-Member Price $113.00
Overview
In this course, Chis Province, CPA, will take a more in-depth look at stock basis and debt basis. He will talk on the subject of AAA, earnings and profits, and previously taxed income. The course will cover schedule M2, distributions, and how we deal with schedule M2 in both a profitable year and in a net negative year. Lastly, Chris will talk about various issues such as terminations, liquidation type issues, inadvertent terminations, and how to maybe get the S corporation election back
Highlights
Annual Basis Adjustments. Deducting Losses. Limits - NOLs, PALs, and Basis. TC Summary Opinion 2017-9 (Tinsley). Form 7203. Accumulated Adjustments Account. CCA 2014446021. Revenue Ruling 2019-13. TC Memo 2016-207 (Franklin). PLR 201633017. PLR 201930023. Post Termination Transition Period.
Prerequisites
None.
Designed For
CPAs, financial professionals, enrolled agents and attorneys.
Objectives
In depth look at stock basis and debt basis. AAA, earning and profits, and previously taxed income. Schedule M2- profitable year vs net negative year. Various issues- Terminations, inadvertent terminations, and liquidations.
Preparation
None.
Notice
This is a FlexCast (no exam required) and may be viewed only Monday - Saturday, 5am - 5pm PT. You may take up to one year from the date of purchase to complete the course. Pause your FlexCast and resume at a convenient day during the hours above. Partial credit for 2+ credit courses: If you are unable to complete the course in one sitting, partial credit can be awarded (minimum of one credit). To earn the remaining credits, you must return later and start the course from the beginning. Use chat to ask questions of a subject matter expert during the program.
Leader(s):
Leader Bios
Robert Province, The Tax U
Robert C. Province is a CPA in private practice in Southern California. He is a highly motivated seminar leader, known for his ability to connect with seminar attendees to ensure their understanding of complex material. He is the recipient of the 2002 Award for Instructor Excellence awarded by the California CPA Education Foundation. Robert has been in public accounting since 1987 specializing in tax, accounting, and management advisory services for closely held businesses and individuals. He sharpened his skills working as a senior member of several local and national CPA firms and served as an Adjunct Professor of Accounting and Taxation at College of the Canyons. Robert earned his Bachelor of Science in Accounting and Finance from California State University Northridge and is a Certified Public Accountant in California and North Carolina.
Non-Member Price $113.00
Member Price $98.00