CBES
CHOOSING THE BEST ENTITY STRUCTURE UNDER THE TAX LAW IN 2015

Tax rates are always a critically important factor in choosing the form of business organization, and the individual and corporate rates in 2015 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.

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

Learning 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

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
Level of Knowledge: Intermediate
Prerequisite: A basic course in partnerships/LLCs and in S corporations
Advanced Preparation: None
Credits: 8