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
Course is unavailable for purchase.
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
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