S Corporations: Converting To C Corporation
Electing S corporations may find it desirable or necessary to terminate this election and converting to a C corporation. This course considers situations when such a conversion is desirable.
Identify and discuss tax planning opportunities and complications at conversion. Limitations on re-electing S corporation status are discussed and evaluated. Also, considers complications of re-electing S corporation status after termination.
- Reasons to terminate an S corporation election
- Involuntary terminations
- Voluntary revocations the process and the consequences
- Tax planning opportunities related to termination of S corporation status
- Complications arising from a mid-year termination
- Limitations on re-electing S corporation status
- Recent legislation affecting decision to terminate the S corporation election
- Discuss and analyze situations where terminating an S corporation election could be desirable.
- Consider common situations where S election may involuntarily terminate.
- Understand the process and tax planning opportunities related to a voluntary revocation.
- Evaluate complication related to mid-year termination of S corporation status.
- Discuss and evaluate limitations on re-electing S corporation status.
- Consider recent legislation which could affect the decision to terminate the S corporation election
CPAs and attorneys.
Applicable if you are a HSCPA member in good standing.
Applicable if you are not a HSCPA member.