Essentials of Limited Liability Companies ON DEMAND
Available Until
Your Desk
1.0 Credits
Member Price $29.00
Non-Member Price $33.00
Overview
For professionals navigating the complex business landscape, understanding when and how to utilize an LLC is crucial, yet often challenging. This course is designed to address these challenges, offering comprehensive insights into the world of LLCs. The course starts with the problem: the intricate decision-making process involved in choosing an LLC as a business entity. This course examines this issue by exploring the potential pitfalls and misunderstandings related to LLCs, such as tax implications, capital structure complexities, and management alternatives. The solution lies in the course’s detailed exploration of the advantages and disadvantages of an LLC, its formation process, and the transition to an LLC from other legal structures. By completing this course, participants will gain a thorough understanding of the conditions under which an LLC operates, the type of record-keeping required, the representation of ownership interests, and the handling of negative capital balances. The course also demystifies the tax issues associated with start-up capital and specifies the necessary tax returns for LLCs and their members. This knowledge empowers professionals to make informed decisions about using LLCs effectively and efficiently in their business endeavors.
Highlights
Where you can use the LLC structure. Which entities can own an LLC. The capital structure of an LLC. Member management of an LLC. LLC tax filing. The LLC operating agreement. Business type comparison.
Prerequisites
None.
Designed For
CPAs and tax professionals.
Objectives
Recognize the conditions under which an LLC is allowed to operate. Specify the type of record keeping that should be applied to an LLC. Identify how a capital interest represents the ownership interests of an LLC’s members. Recognize how a negative capital balance can arise. Identify the situations in which an LLC can repudiate a contract signed by one of its members. Recognize the tax issues associated with the start-up capital of an LLC. Specify the tax returns that must be filed by an LLC or its members.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
Steven Bragg, Western CPE
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 70 business books. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast.
Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and an auditor with Deloitte & Touche. He holds an MBA from Babson College, a Master of Finance from Bentley College, and a BA from the University of Maine (summa cum laude).
Non-Member Price $33.00
Member Price $29.00