Self-Study

Choice of and Formation of Entity

  • Thursday, August 15, 2019 – Thursday, April 30, 2020

  • 7
    CREDITS
    Taxes

Choice of entity issues are relevant throughout the life of a business. When starting a new business, a crucial first decision is choosing the correct form of entity to accomplish the company's goals. Likewise, it is equally important to know when an entity change is needed as well as the tax consequences of the sale or liquidation of the various forms of doing business.

Updated for Tax Reform, this self-study course provides an overview of the ever-increasing tax advantages and disadvantages of general and limited partnerships, C and S corporations, LLCs, and LLPs, as well as individual proprietorships.

This course will help you hone in on the key issues surrounding the myriad of factors that drive the optimal form of organization for a business. It also includes several case studies from reallife client situations.

Objectives

Understand the types of business entities and the tax advantages and disadvantages of each.
Identify circumstances that warrant converting from S to C Corporation and gain a basic understanding of how to make the conversion.
Interpret tax issues related to the formation of a corporation.
Evaluate other considerations regarding different entities and the impact on the business owner.

Highlights

Types of entities
Formation and elections
Start-up and organization costs
Advantages and disadvantages comparison

Additional Information

Designed For

CPA firm seniors (and above) and other tax professionals looking for the best techniques to select various entity forms to solve their clients' tax and business problems

Vendor

American Institute of CPAs

Credits

7.00 Taxes

Course Number

19AIS250

Level of Knowledge

Intermediate

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