Self-Study

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

  • Wednesday, May 1, 2019 – Thursday, April 30, 2020

  • 8
    CREDITS
    Taxes

Tax rates are always a critically important factor in choosing the form of business organization, and the individual and corporate rates are particularly important in 2018 and beyond. The rates demand 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
  • NEW: Tax rates under the 2017 Act, in particular, new §199A, which provides a deduction of 20%, in certain instances, to pass throughs such as LLCs and S 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

Credits

8.00 Taxes

Prerequisite

A basic course in partnerships/LLCs and in S corporations

Course Number

1925403

Level of Knowledge

Intermediate

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