S Corporations: Converting to C Corporation Webcast | 4203334C

Description

Electing S corporations may find it desirable or necessary to terminate this election and convert to a C corporation. We'll consider 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, consider recent and pending legislation.

Highlights

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 or proposed legislation affecting decision to terminate the S corporation election

Objectives

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 and proposed legislation which could affect the decision to terminate the S corporation election

Designed For

CPAs and attorneys.