Douglas W. Schwartz, Partner, Nossaman LLP to Speak at KC’s Event

NEW YORK - Sept. 14, 2015 - PRLog -- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Douglas W. Schwartz, Partner, Nossaman LLP, will speak at the Knowledge Congress’ webcast entitled: “Complex Tax Challenges – Shareholder’s Basis in S Corporation Stock and Debt: What You Need to Know in 2015 LIVE Webcast” This event is scheduled for September 16, 2015 from 3:00pm – 5:00pm (ET).

For further details, please visit:

theknowledgegroup.org/event_name/complex-tax-challenges-shareholders-basis-in-s-corporation-stock-and-debt-what-you-need-to-know-in-2015-live-webcast/

About Douglas W. Schwartz

Douglas Schwartz, a Partner in Nossaman LLP’s Los Angeles office, specializes in tax matters (international, federal, state, and local) as they affect individual and compensation planning; business formations, transactions, and operations; charities, public pension systems, and other tax-exempt entities; and investments in different asset classes and investment vehicles. He has a comprehensive understanding of the complex local, state, and federal laws and regulations that affect personal and business taxes for a wide variety of industries, including entertainment, internet, manufacturing, real estate, sports, nonprofit, and public agencies, and including advice on sales and use tax; Proposition 13; documentary transfer; and local business license taxes in addition to income and franchise taxes.

About Nossaman LLP

Nossaman LLP is a California-based national law firm with 160 professionals who work seamlessly across seven U.S. offices in Los Angeles, Orange County, San Francisco, and Sacramento, California; Austin, Texas; Washington, DC; and Arlington, Virginia.  We utilize a multi-disciplinary approach that combines the skills and experience of our transactional and regulatory attorneys, litigators, and state and federal policy advisors to achieve clients’ goals.  Nossaman focuses its practices on several key areas of law and industries including corporate, taxation, real estate, employment, financial services, insurance coverage, environmental, and litigation matters.

Event Synopsis:

Few things match the daunting complexity and confusion of tax regulations regarding Unicap and partnership capital account maintenance rules. But, determining Shareholder’s Basis in S Corporation Stock and Debt is a challenge even to taxation specialists. In July 2014, the IRS issued final regulations addressing indebtedness of S corporations to their shareholders, ruling that S corporation shareholders may increase their debt basis only if the indebtedness is bona fide.

Ideally, shareholders must track this basis. But in-variably, this is left to tax professionals. The rules are written to distinguish between C and S corporations. In S corporations, tax on income is allocated to the corporation’s shareholders who report it in their individual tax returns (pass through). Debt must be directly from the shareholder to the S corporation and the shareholder must have an actual economic out-lay.

The Knowledge Group has assembled a panel of key thought leaders to provide the audience with an over-view and in-depth discussion of S Corporation stock and debt shareholder basis regulations, challenges, and legal up-dates. In this CLE webinar, the panel of speakers also will help listeners understand how distributions from an S corporation are taxed, how to calculate and adjust a shareholder’s initial stock and debt basis, determine the timing and ordering rules and consequences of re-paying reduced-basis debt, and they will discuss compliance risks.

Some of the major topics that will be covered in this course are:

§  S Corporation Regulations
§  Recent Legal Issues on S Corp and Tax- Exempt Organizations
§  C Corporation vs. S Corporation
§  Direct Debt
§  Economic Outlay
§  Fund Sources and Flow
§  Unrelated Business Taxable Income (UBTI) Liabilities
§  Excess Business Holdings Tax
§  Best Practices to Resolve Complex Tax Challenges
§  Possible Legal Actions

About The Knowledge Group/The Knowledge Congress Live Webcast Series

The Knowledge Group was established with the mission to produce unbiased, objective, and educational live webinars that examine industry trends and regulatory changes from a variety of different perspectives. The goal is to deliver a unique multilevel analysis of an important issue affecting business in a highly focused format. To contact or register to an event, please visit: http://theknowledgegroup.org