Course ID: BUSENTC

Business Entity Choice

Business owners and tax practitioners should always ask which entity type is best before forming a business. This course will dive into the topic of choice of business entity by reviewing the advantages and disadvantages of different business entity types, characteristics of tax entities, comparing partnerships/LLCs and S corporations, and comparing the tax consequences of disposing of these ownership interests. The participant will understand how to advise their clients and provide planning opportunities.

In-person and live webcast CPE credit: 4.0

Learning Objectives

After completing this course, you will be able to:

Identify the legal forms available to business owners.
Identify the tax and nontax characteristics for each business entity.
Identify the advantages and disadvantages of each entity type.
Compare the tax characteristics of partnerships/ LLCs and S corporations.
Distinguish the tax consequences from disposing of partnership interests, corporate stock, or S corporation stock.

Major Topics

Business structures
Characteristics of tax entities
Understand the advantages and disadvantages of each business entity type
Comparison of partnerships/limited liability companies and S corporations
Dispositions of ownership interests and converting to other entity types

Advanced Preparations

None

Who Should Attend

Third year, seniors, or supervisors

Fields of Study

Taxes

Prerequisites

Entry level corporate, S corporation, and partnership/LLC taxation knowledge

Provider

Business Learning Institute

CPE Credits

4.0

Level

Intermediate

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