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Webinar (CA): Small Business Stock Gains—Exclusion and Deferral Opportunities

Description

Review the availability and application of three special rules that allow exclusion or deferral of gain from the sale of the stock of a corporation not making the S corporation election. IRC 1202 provides that gain from the sale of “qualified small business stock” can be excluded. IRC 1045 describes situations when the gain from the sale of “qualified small business stock” can be deferred. To understand the application of these two favorable provisions, the meaning of “qualified small business stock” must be understood, as well as other requirements and limitations. IRC 1042 allows deferral of gain from the sale of corporate stock to an employee ownership plan ( ESOP). This deferral requires a qualified reinvestment at the right time in an adequate amount. Study these three provisions apply in the context of tax planning for corporate businesses.

Learning Objectives

• Determine the benefit of the IRC 1202 exclusion
• Identify the requirements that must be met to qualify for IRC 1202 exclusion
• Recognize limitation on the amount of the exclusion
• Compare the IRC 1202 exclusion to making S corporation election
• Determine the benefit of IRC 1045 deferral
• Identify the requirements that must be met to qualify for IRC 1045 deferral
• Recall the basics of Employee Stock Ownership Plans ( ESOP)
• Determine the benefit of the IRC 1042 deferral
• Identify the requirements that must be met to qualify for IRC 1042 deferral

Major Topics

• IRC 1202 – The benefit of the exclusion
• IRC 1202 – The requirements that must be met
• IRC 1202 – Limitation on the amount of the exclusion
• Comparison of the IRC 1202 exclusion to making S corporation election
• IRC 1045 – The benefit of the deferral
• IRC 1045 – The requirements that must be met
• The basics of Employee Stock Ownership Plans ( ESOP)
• IRC 1042 – The benefit of the deferral
• IRC 1042 – The requirements that must be met

Provider
California CPA Education Foundation
Course Level
Intermediate
CPE Field of Study
Tax
2
Who Should Attend

CPAs and attorneys.

Instructor(s)
John McWilliams
Prerequisites

Knowledge in taxation.

Advanced Preparation

This webinar is produced by AICPA. You will receive your login link/instructions and Certificate of Attendance directly from this third-party vendor. It is important that you review your COCPA confirmation for details on receiving your login instructions and COA from said vendor.

Location
Webinar
Event Information
When
Oct 25, 2021
11:00 am - 1:00 pm MDT
Location
Webinar
Total CPE Credits
2
Format
Webinar

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Webinar (CA): Small Business Stock Gains—Exclusion and Deferral Opportunities


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