Compensation Issues & Entity Level Taxes: Disallowed Benefits and PTE Elections
S-Corporation taxation has many pieces. There are helpful elections you can make that potentially save your client money. There are rigid rules that must be adhered to. For example, if there is more than one class of stock, this can terminate the S-election. Learning how to successfully navigate these rules can make all the difference. In this course, we will be discussing some of the more common specialty areas experienced by practitioners: late filing relief for S-elections, disproportionate distributions, and selling S-Corporation shares. While these items may not come up on every single Form 1120-S, you will be able to add more value to clients when they do.
CPA, CFP, CLU, CPCU, MST, MBA
David Peters is the Founder and Owner of Peters Professional Education in Richmond, VA. He is registered with the U.S. Securities and Exchange Commission (SEC) as an Investment Advisor Representative (IAR) with Peters Financial LLC. He brings over 20 years of experience in financial services, including three years in the hedge fund industry and six years in insurance. David was the first Chief Financial Officer of Compare.com, where he served for more than three years. He holds four master’s degrees, contributes frequently to professional publications, and is a nationally recognized CPE instructor and discussion leader for Surgent seminars and a former instructor for Don Farmer. David received the AICPA Outstanding Facilitator Award in 2021, 2023, and 2024 as well as Surgent's Outstanding Discussion Leader awards in 2019 and 2022. He also co-authored the Virginia CPA Ethics course in 2018, 2019, and 2020, which is a requirement for all CPAs licensed in Virginia. Through Peters Professional Education, David is the author and instructor for over 125 recorded on-demand CPE courses and leads private trainings, in-person tax seminars, and quarterly live tax update webinars. His areas of instruction include accounting, finance, insurance, financial planning, and ethics, and he regularly teaches professionals across the United States.
