Things You May Not Know About S-Corps

Course Outline

· When to become an S-Corporation – save on self-employment tax?

· S-Corp Requirements

· Making an S-Corp late election

· Officer Compensation

· Distributions in excess of basis

· Shareholder Stock and Debt Basis

· Officer and Shareholder health insurance

· Officer and Shareholder fringe benefits

· De Minimis Safe Harbor election § 1.263(a)-3(n)

· Built in Gains Tax

· Holding real property under an S-corp

· Amending an S-Corp tax return for the Employee Retention Tax Credit

Learning Objectives

· Better understanding of Officer and Shareholder basis

· Better understanding of Officer and Shareholder health insurance paid by the corporation and fringe benefits

· How to amend an S-Corporation tax return for the ERTC

· Making a late election months or years after the 2553 was required to be filed

About the Speaker

Jeffrey L. Halbert, EA is Vice-President of Halbert & James, Inc. A tax advisory firm located in San Diego, CA in the Mission Valley area. Jeff specializes in Small Business tax preparation, tax planning, and retirement planning. Jeff is a member of the California Society of Tax Consultants and the California Society of Enrolled Agents. A graduate of Chapman University with a degree in Organizational Leadership. Jeff has been practicing tax for 20 years with an emphasis in small business taxation.

Continuing Education

IRS:  2  hours Federal Tax Law Topics   |   CTEC: 2 hours Federal Tax Law    |   CA Bar:  1.75 hours Taxation Law  |  CPA CA:   2 hours Taxes

Pricing

Member: $45   |   Non-Member: $55