S Corporation Taxation, IRC assignment help

Aug 15th, 2016
Anonymous
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Question description

  • Per the text and IRC, losses and deductions of an S corporation pass through to the shareholders of the corporation and are limited to the shareholders’ basis in the S corporation. Suggest a plan for a client to increase the deductible pass through loss and deductions over the initial investment from a new wholly owned S corporation.

  • From the e-Activity, differentiate between the treatment of S corporation distributions from corporations having no earnings and profits, and corporations having accumulated earnings and profits. Suggest the most significant reason for the difference in the treatment of distributions. Justify your response.

    e-Activity: Go to the Tax Almanac Website, located at http://www.taxalmanac.org/index.php/Tax_Research_Resources, or use the Internet and Strayer databases to research S corporation distributions and taxation. Be prepared to discuss.


Tutor Answer

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Part one: client plan
In order for a client to increase his/ her deductible pass in consideration of loss and
deductions he/she can adopt the following plan.
The client should increase his/her capital contributions in the S corporation. By
increasing owners’ equity in the corporation, they will have higher stake in the
corporation therefore, increasing their deductible pass.
The next w...

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