Questions from Individual Taxation

Q: Why can’t large, publicly traded corporations be treated as S corporations

Why can’t large, publicly traded corporations be treated as S corporations?

Q: How do the tax laws treat family members for purposes of limiting

How do the tax laws treat family members for purposes of limiting the number of owners an S corporation may have?

Q: JB Corporation is a C corporation owned 80 percent by Jacob and

JB Corporation is a C corporation owned 80 percent by Jacob and 20 percent by Bauer. Jacob would like JB to make an S election but Bauer is opposed to the idea. Can JB elect to be taxed as an S corpor...

Q: Theodore, Alvin, and Simon are equal shareholders of Timeless Corp

Theodore, Alvin, and Simon are equal shareholders of Timeless Corp. (an S corporation). Simon wants to terminate the S election, but Theodore and Alvin disagree. Can Simon unilaterally elect to have t...

Q: Apple Union (AU), a C corporation with a March 31

Apple Union (AU), a C corporation with a March 31 year-end, uses the accrual method of accounting. If AU elects to be taxed as an S corporation, what will its year-end and method of accounting be (ass...

Q: Why is a shareholder’s basis in an S corporate stock adjusted annually

Why is a shareholder’s basis in an S corporate stock adjusted annually?

Q: If a corporation has been an S corporation since inception, describe

If a corporation has been an S corporation since inception, describe how its operating distributions to its shareholders are taxed to the shareholders.

Q: What role does debt basis play in determining the taxability of operating

What role does debt basis play in determining the taxability of operating distributions to shareholders?

Q: What two factors increase the difference between present and future values?

What two factors increase the difference between present and future values?

Q: When must an S corporation make estimated tax payments?

When must an S corporation make estimated tax payments?