S corporations are the most commonly used business entity types, and this CCH reference is designed to help practitioners understand and manage individual S corporation election, compliance, tax planning and life-cycle needs. Formerly titled "S Corporations: Tax Practice and Analysis," the Practical Guide to S Corporations provides substantial, clearly written and practical guidance on this complex subject. With straight-forward explanation, a generous amount of examples and helpful pointers, even the most experienced tax and legal professional will find quick answers and valuable insight in this unique resource.

This new Third Edition contains extensive discussion of the changes brought about by the American Jobs Creation Act of 2004 that affect S corporations, including the new Section 199 domestic production deduction and the Section 409A provisions regarding deferred compensation. The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 which impacted retirement plans and IRAs of S corporations and their shareholders and employees is also reflected in this new edition. 

Topics include:

• Tax overview and compliance
• Basis and losses Elements of S corporation election
• S corporation distributions and timing
• Comparison to other entities
• S corporation income taxes
• And more!

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