Self-Study

Surgent's Getting the Choice of Entity Right: Tax Law, Strategy, and Tactics (CBES)

  • Tuesday, March 27, 2018 – Tuesday, April 30, 2019

  • 8
    CREDITS
    Taxes

Recent tax reform demands a reconsideration of current businesses and a different analysis for new ventures. By comparing and contrasting the tax aspects of C corporations, S corporations, partnerships, sole proprietorships, and limited liability companies, this course focuses on distinctions that can make big differences. This in-depth course will cover planning opportunities and potential pitfalls in developing a business structure. This course is a must for all practitioners.

Objectives

  • Identify the various business organizations available and their nontax criteria
  • Distinguish the tax characteristics of a sole proprietorship, LLC/partnership, S corporation, and C corporation
  • Understand the formation and exit strategy tax issues
  • Discuss the questions and concerns on choice of entity as well as those involving related entities 

Highlights

  • Tax considerations in the organization of an enterprise and the pitfalls to avoid
  • Non-tax considerations
  • How income tax rates affect choice of entity
  • Formation of a sole proprietorship, partnership, LLC, single-member LLC, S corporation, and C corporation
  • Practical guidelines on which entity structure to use under various circumstances and relevant changes in the law
  • Comparing and contrasting the tax aspects of partnerships with sole proprietorships, S corporations with partnerships, C corporations with S corporations, and partnerships with C corporations, and limited liability companies with all other entities
  • Choice of entity in structuring real estate investments or a professional business
  • Fringe benefits and retirement plans: which entities have special advantages
  • Liquidations, dissolutions, and dispositions of a business
  • Case study explores the questions of related corporations

Additional Information

Designed For

CPAs who are considering starting a new business or who advise clients on the form of business organization that is best in light of recent tax law changes

Vendor

Surgent

Advanced Preparation

None

Prerequisite

A basic course in partnerships/LLCs and in S corporations

Field of Study

Taxes

Course Number

1825030

Level of Knowledge

Intermediate

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