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S corporation income taxation

About this topic

Based on the AICPA Competency Framework: Tax and Personal Financial Planning, these learning resources - primarily focused on US tax - are designed to help CPAs understand the knowledge and skills necessary to address the needs of their clients and firms.

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Tax Court upholds non–safe-harbor reverselike-kind exchange

The Tax Court’s decision in Estate of Bartell alleviates uncertainty about structuring a reverse like-kind exchange intended to qualify for nonrecognition treatment.

Article Allocations of profits & losses Intermediate

S corporation owner-employees: Who controls income?

This article illustrates the importance of drafting agreements so the income earned is paid to the correct party when an S corporation is involved.

Article S corporation income taxation Intermediate

How to manage sales and use tax risk

This article discusses how an external sales and use tax policies and procedures review can help in avoiding problems before they occur.

Article Tax computation Intermediate

The Front-End Straw Man and the Build-to-Suit Exchange

A build-to-suit like-kind exchange usually requires a great deal of planning and may take some time.Learn more about build-to-suit arrangements in this article.

Article Tax computation Foundational

Top 10 Easy Ways That Trusts Cause Loss of S Corporation Status

This article presents 10 ways that S corporations can lose their S election status, most of them involving trusts.

Article Election, termination & conversion Intermediate

Bonus Depreciation After the PATH Act

Congress made a notable change to the definition of qualifying property for bonus depreciation purposes. This article discusses the changes and items for consideration.

Article Specialized issues Intermediate

Ordinary Deduction for Worthless QSub Stock

Restructuring an existing QSub in an attempt to qualify for an ordinary deduction is prohibited and might result in an unfavorable deferral of loss. This article...

Article S corporation income taxation Intermediate

Life Insurance and S Corporations: Unique Rules Present Opportunity and Peril

This column outlines the special considerations and issues related to life insurance policies for S Corporations.

Article S corporation income taxation Foundational

New Jersey’s Sourcing Rule for Gain on Dispositions of Interests in Flowthrough Entities Can Be a Real Deal-Killer

The private-equity group (PEG) space has become inundated with state income tax issues and traps for the unwary. This article illustrates this type of situation.

Article State & local tax (SALT) Intermediate

What to do when a client wants to give an LLC or limited partnership unit to charity

This article presents some important considerations the client should take into account before giving and LLC or limited partnership unit to charity.

Article Charitable gifts Intermediate

Deducting Business Bad Debts

Planning that maximizes the business bad debt deduction can help minimize the taxpayer’s overall economic loss.

Case Study Partnership taxation Foundational

Practical Strategies for Using Sampling for the Research Tax Credit

This article discusses efficient strategies for a tax department to consider when planning a statistical sample to estimate qualified research expenditures.

Article Credits Foundational