Webcast
S Corporations: Formation
A practitioner-focused walkthrough of S corporation formation paths—§351 contributions, statutory conversions/mergers, and check-the-box elections—highlighting where basis, liabilities, boot, and election timing can quietly create taxable outcomes.
$49.00
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and Saturday & Sunday, 10am – 6pm ET.
Without FlexCast, you must start with enough time to finish. (1 Hr/Credit)
Secure Transaction CPE Credits
1 Credits: Taxes
Course Level
Overview
Format
Webcast
Course Description
Forming an S corporation is often treated as a quick compliance step—until a client brings you a balance sheet with liabilities in excess of basis, an LLC “statutory conversion” already in motion, or a late decision to “check the box” without understanding the deemed steps. In S Corporations: Formation, Robert Jamison walks through the practical ways an entity becomes a corporation (new corporation + asset transfer, state-law merger, statutory conversion, and entity classification elections) and ties each path to the federal tax consequences practitioners have to defend.
You’ll sharpen your command of §351 control and boot, basis effects and liability assumptions (including when liabilities can trigger gain), and the often-overlooked continuity/eligibility issues that show up when entities change form without changing operations. The CPE course also frames why S status can be advantageous (employment tax and planning considerations, QBI wage dynamics, and PTE tax availability) and why “getting out” can be expensive (liquidation treatment, depreciation recapture, and the practical limits of rescission).
Learning Objectives
After attending this course, participants will be able to:
- Identify the primary legal/tax pathways to corporate (and S corporation) formation, including new corporation formations, statutory conversions, mergers, and entity classification (“check-the-box”) elections.
- Apply the general nonrecognition framework of IRC §351, including the 80% control requirement and the corporation’s nonrecognition on issuance of stock.
- Distinguish between boot and liability assumption rules in incorporations, including circumstances where liabilities may be treated as boot and when liabilities can trigger gain due to liabilities in excess of basis.
- Compute shareholder stock basis and corporate asset basis outcomes in common formation scenarios, including adjustments for debt relief, recognized gain, and boot received.
- Evaluate how formation method choices can affect ongoing planning considerations, including employment tax characterization for shareholder-employees, QBI wage interactions, and potential applicability of state PTE tax regimes.
Course Specifics
WC1826466976
February 25, 2026
None
None
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02781-26-O
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-02224
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Robert “Bob” W. Jamison, CPA, Ph.D., is Professor Emeritus of Accounting at Indiana University, Purdue University, Indianapolis (IUPUI). His principal area of specialization is S Corporations. He is the sole author of S Corporation Taxation, and co-author of Multistate Tax Guide to Pass-Through Entities, both of which are published annually by CCH, a Wolters Kluwer business. He is the author of the 2022 edition of Essentials of Federal Income Taxation, published annually by CCH, a Wolters Kluwer business. Bob is a well-known author and speaker on S Corporations. He is curator of Wolters Kluwer Answerconnect Topic “S Corporations” and subtopics …
Sharon Kreider, CPA, has helped more than 15,000 California tax preparers annually get ready for tax season. She also presents regularly for the AICPA, the California Society of Enrolled Agents, CCH Audio, and Western CPE. You’ll benefit from the detailed, hands-on tax knowledge Sharon will share with you—knowledge she gained through her extremely busy, high-income tax practice in Silicon Valley. With her dynamic presentation style, Sharon will demystify complex individual and business tax legislation. She’s a national lecturer for business and professional groups and consistently receives outstanding evaluations. In 2014, she was awarded the prestigious AICPA 2014 Sidney Kess Award …
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