This quick-reference manual lets you help clients take full advantage of their
S corporation status and minimize their taxes. It leads you directly to
authoritative information on every aspect of the
S corporation,
enabling you to
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Arm the S corporation against the potential tax traps hidden in the
Small Business Tax Protection Act.
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Maximize the tax benefits of S corporation status.
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Make a qualified Subchapter S Subsidiary (QSub) election.
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Identify transactions that will trigger the built-in gains tax.
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Avoid added tax liability or loss of S corporation status from passive
investment income.
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Capitalize on the permissible differences in stock rights to facilitate estate
planning and ownership transfers.
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Determine allocation of income, losses, and deductions in the termination year
of the S corporation.
Plus, there are citations to the controlling rules, regulations, and court
decisions that will save you hours of research.
Automatic Supplementation
