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Converting a Sole Proprietorship to an S Corporation

Small business owners will look to their tax professional when deciding to incorporate their business. This session will prepare tax professionals for a discussion on the tax implications of this entity selection, as well how to calculate the basis of the shareholder’s interest and transferred assets. You’ll also learn to summarize the pass-through treatment of income and losses in an S corporation.

Objectives

Upon completion of the session, the learner will be able to:

• Identify the tax implications of changing from a sole proprietorship to an S corporation
• Calculate basis of the shareholder’s interest
• Calculate depreciation and holding period for assets transferred to the S corporation
• Summarize the pass-through treatment of income and losses in an S corporation

Details

Jaye Tritz, EA, CFP®

Instructor:

Level:

Advanced

Prerequisites:

Knowledge of business taxation

Advanced Preparation:

None

Delivery Method: 

Group Live

CPE credits     Designation     Field of study

IRS

2

AFSP

Federal Tax Law Topic

IRS

2

EA

Federal Tax Law Topic

NASBA

2

CPA

Taxes

CTEC

2

CRTP

Federal Tax Law Topic

CFP Board

0

CFP®

No

How to Earn CPE

Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.