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: * 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. * Make a qualified Subchapter S Subsidiary (QSub) election. * 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.