Choice of Entity ON DEMAND

Overview

In the intricate world of business, selecting the right entity type is crucial but often muddled by complex tax implications and liability concerns. This course provides clarity in this often-confusing landscape, offering an in-depth exploration of various business entities including sole proprietorships, partnerships, LLCs, C corporations, and S corporations. Each entity type is dissected to reveal its advantages and disadvantages, with a major focus on maximizing tax benefits. This course does more than just present information; it helps you analyze and choose the most suitable business entity for your specific tax and liability needs. Whether you’re an entrepreneur with limited financial knowledge or a seasoned business professional, this course is tailored to provide you with the insights needed to make informed decisions about the best business structure for your endeavors.

Highlights

Sole proprietorship. Partnerships. Limited liability companies. Corporations. S corporations. Basic fringe benefits. Retirement plans. Nonqualified plans.

Prerequisites

None.

Designed For

CPAs, financial professionals, enrolled agents, and attorneys.

Objectives

Determine the advantages and disadvantages associated with sole proprietorships, and specify the formation requirements. Identify not-for-profit activities particularly as they relate to Schedule C businesses and recall the various requirements permitting such businesses to complete the C-EZ form or request an automatic filing extension. Recognize the taxes imposed on self-employed persons specifying compliance with payment requirements, determine how sole proprietorship assets are characterized on disposition and, identify income splitting and estate planning devices available for such business owners and their impact on entity choice, and more.

Preparation

None.

Notice

None.