Overview 8.0 Credits Tax rates are always a critically important factor in choosing the form of business organization, and the individual and corporate rates in 2016 and beyond 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
Major Topics 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 New case study explores the questions of related corporations
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
