Choice of Entity & Tax Issue Entity Formations: Part 1

Authored by Jennifer Kowal
About this Course
Topics covered include: Business advantages and disadvantages to various business entity structures; Tax advantages and disadvantages of various business entity structures; Tax treatment of formation transaction for C corporations, S corporations, LLCs and partnerships; Potential current and future pitfalls of forming each entity type; Potential impact of Tax Cuts and Jobs Act of 2017; Overview of Different Types of Entities; Employment Taxes and Employee Benefits; Entity Classification and Conversion; Tax Consequences of Various Entity Formations. Upon completing this course, you should be able to: Describe the business advantages and disadvantages of using C corporations, S corporations, LLCs, partnerships and sole proprietorships; Identify the tax advantages and disadvantages of each entity type; Describe tax consequences to forming various types of entities; Describe business structures and how they affect a company; Identify advantages of a general partnership business structure; Recognize disadvantages with respect to business structures; Describe employment tax issues of S Corporations; Differentiate stock options in a Corporation; Identify proper statements with respect to profits interest; Recognize how to evaluate whether there is an entity separate from its owners; Recognize types of entities which generally get a choice on tax classification; Identify examples of ineligible entities; Differentiate statements with respect to partnerships vs. S Corporations; Recognize the proper form for filing an annual General Partnership; Identify advantages of a C Corporation; Describe S Corporations and shareholder limitiations; Identify the price at which a stock option holder may purchase a share of stock using the option; Identify a partnership interest other than a capital interest; Recognize when a publicly traded partnership is generally ineligible; Describe which IRS form if an entity wants to elect out of the default classification; Recognize which form is not respected by the IRS related to partnership incorporation; Identify IRC Sections addresses corporate formation including the consequences, stock, as well as control issues.
$ 30.00
Add To Cart
NASBA Field of Study
Taxes
Level
Basic
CPE Credits
4.0
Prerequisites
Basic experience with choice of entity and tax issues involved in entity formations.
Last Updated
03/01/2018
12791