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ACC565 Week 7 Discussion 1 and Discussion 2




Question;Week 7 Discussion 1"Deductibility of S Corporation Losses and;Deductions" Please respond to the following;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.;Analyze the major advantages and disadvantages of;using the plan you created on tax planning in the first part of this discussion;for future years.Week 7 Discussion 2"S Corporation Distributions and Taxation;Please respond to the following: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.;Per the text, Last In, First Out (LIFO) recapture;tax and built-in gains tax are applied to S corporations at the corporate;level. Create a tax-planning strategy to prevent the S corporation from the;payment of these taxes.="msonormal">


Paper#57178 | Written in 18-Jul-2015

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