The S Corporation Answer Book

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: - Take full advantage of the 1997 Taxpayer Relief Act - Arm the S corporation against the potential tax traps hidden in the Small Business Tax Protection Act - Maximize the tax benefits of S corporation status - Identify dispositions that will trigger the built—in gains tax - Avoid added tax liability or loss of S corporation status from passive investment income - Capitalize on the permissible differences in stock rights to facilitate estate planning and ownership transfers - 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.