S Corporation Taxation (2023)

Author(s): Robert W. Jamison

Product ID: 10029985-0014

A comprehensive reference tool for problems arising in regards to S corporation taxation.

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Overview

S corporations file more tax returns than any other business entity in the United States of America. This book provides, in a single volume, a comprehensive guide and reference tool for the tax practitioner to solve the many problems arising in regard to S corporation taxation.

S Corporation Taxation is organized into 22 chapters.

The early part of the book focuses on the numerous eligibility requirements which have various pitfalls and complications.

Chapters 5 and 6 cover various elections, termination of S corporation status, and means to preserve S corporation status when inadvertent violations of the eligibility rules occur.

Chapters 7 through 12 deal with the computation and reporting of income, deductions and distributions in the normal course of the S corporation’s business activities. Included in these materials are related party dealings, and the interplay of various loss limitations imposed on the corporation and each of its shareholders.

Chapter 13 contains a comprehensive discussion of cancellation of debt, with special emphasis on the complex interactions between an S corporation, its creditors and its shareholders. This material includes important information on elections and timing rules.

Chapters 14 through 16 deal with the corporate level taxes on built-in gains, LIFO recapture and passive investment income.

Chapter 17 covers Qualified Subchapter S Subsidiaries and other multi-enterprise relationships which include S corporations.

Chapters 18 and 19 cover corporation rules concerning incorporations, redemptions and liquidations, with the special effects that S elections have on these transactions.

Chapters 20 and 21 describe various alternatives for acquisitions and divisions of S corporations, both taxable and tax deferred.

Appropriately, Chapter 22 concludes the book with estate planning problems and opportunities.

This book removes some of the mystery surrounding S corporations and their complexities. Its thorough coverage, realistic examples, and tax pointers provide the reader with a unique addition to his or her tax library.

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About the author(s)

Robert W. Jamison

Robert W. Jamison, CPA, PH.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). He received his PhD from the University of Texas at Austin, his MBA from Portland State University, and his BA from DePauw University. His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, published annually by Wolters Kluwer. His professional experience has included employment with Ohio University, University of Illinois, San Diego State University, Portland State University, Ernst & Young, and other national and local CPA firms. His last full-time position in public accounting was as a senior manager in Ernst & Young's Washington National Tax practice. His articles have appeared in Practical Tax Strategies, Journal of Passthrough Entities, The Tax Adviser, Journal of S Corporation Taxation, The Journal of Accountancy, and various other publications. Professor Jamison has taught many professional education programs for national and local accounting firms and has developed material used in their continuing education programs. He has been a lecturer in AICPA programs and has been the author of several AICPA tax courses. He is a chapter author in the Van-Griner Taxation Series of textbooks. He is a regular contributor to Land Grant University Tax Education Foundation, Inc. National Income Tax Workbook and has contributed to Federal Tax Workshop. He is a frequent speaker at the Indiana Tax Institute, as well as at tax conferences sponsored by other states' CPA societies. He presents advanced and update S Corporation seminars for various states' CPA societies and to other professional organizations.

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