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Technical

Choice of and Formation of Entity - Tax Staff Essentials Logo aicpa

  Charles Borek, CPA, JD, MBA |   $139.00 - 179.00 |   CPE: 7.0 |   AICPA |   May 2020 |   AICPA Store
Who Will Benefit?
  • CPA firm seniors (and above) and other tax professionals looking for the best techniques to select various entity forms to solve their clients' tax and business problems
Key Topics
  • Types of entities
  • Formation and elections
  • Start-up and organization costs
  • Advantages and disadvantages comparison
Learning Objectives
  • Understand the types of business entities and the tax advantages and disadvantages of each.
  • Identify circumstances that warrant converting from S to C Corporation and gain a basic understanding of how to make the conversion.
  • Interpret tax issues related to the formation of a corporation.
  • Evaluate other considerations regarding different entities and the impact on the business owner.

Save when you buy the complete Tax Staff Essentials, Level 2 online bundle.

Choice of entity issues are relevant throughout the life of a business. When starting a new business, a crucial first decision is choosing the correct form of entity to accomplish the company's goals. Likewise, it is equally important to know when an entity change is needed as well as the tax consequences of the sale or liquidation of the various forms of doing business.

Updated for Tax Reform, this self-study course provides an overview of the ever-increasing tax advantages and disadvantages of general and limited partnerships, C and S corporations, LLCs, and LLPs, as well as individual proprietorships.

This course will help you hone in on the key issues surrounding the myriad of factors that drive the optimal form of organization for a business. It also includes several case studies from reallife client situations.

Topics covered:
  • Tax: Technical: S corporation income taxation: Qualifications & considerations, Intermediate
  • Tax: Technical: S corporation income taxation: Distributions & shareholder basis, Intermediate
  • Tax: Technical: C corporation income taxation : Formation, liquidation & reorganization, Intermediate
  • Tax: Technical: Partnership taxation: Formation, transfers & termination, Intermediate
  • Tax: Technical: Partnership taxation: Contributions, distributions & basis, Intermediate

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