Entity Choice - Tax Considerations

The start date for this course has passed. Registration is no longer available.

This course is 8.00 credits
Field of Study
Tax
Course Level
Intermediate
Vendor
California Society of CPAs

Registration Fees

MSCPA-AICPA Member
$245.00
MSCPA Member
$245.00
AICPA Member
$375.00
Non-Member
$375.00
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Monday, Jan 8, 2018
11:30am – 7:00pm

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Consider the difference in tax consequences based on a decision to be either a partnership, S corporation or C corporation. Review key variables such as tax rates, double tax possibility and special rules that are different for partnerships and corporations. Focus on the taxation of current operations including plans to make corporate profits available to the owners and more unusual transactions such as the sale of the business or "buyout" of the owner. Transfers of property for stock or partnership interests is also considered.

Materials are provided as an ebook for this course.

Consider the difference in tax consequences based on a decision to be either a partnership, S corporation or C corporation. Review key variables such as tax rates, double tax possibility and special rules that are different for partnerships and corporations. Focus on the taxation of current operations including plans to make corporate profits available to the owners and more unusual transactions such as the sale of the business or "buyout" of the owner. Transfers of property for stock or partnership interests is also considered.

Materials are provided as an ebook for this course.

Designed For

CPAs and attorneys who have at least two years of experience advising privately owned businesses.

Course Objectives

  • Identify and evaluate differences in tax rates applicable to corporations and individuals.
  • Recognize the potential for double tax for a C corporation including tax planning ideas to avoid double taxation.
  • Recall special rules that are different for partnerships compared to corporations.
  • Identify non-tax factors that are different for the various legal entity choices.
  • Determine the importance of the difference in tax result for entity assets transferred to the owners.
  • Compare the tax consequences of selling a business conducted as a partnership, S corporation or C corporation.
  • Analyze the differences between partnerships and corporations when assets are transferred for stock or a partnership interest.
  • Identify differences in tax consequences at the death of an owner.

Major Subjects

  • Taxation of corporations and shareholders—potential double taxation
  • Comparison of individual and corporate tax rates
  • Special rules—differences that matter
  • Non-tax factors
  • Taxation of operations—differences beyond tax rates
  • Tax considerations of making business assets available to owners
  • Taxation of the sale of the assets of a business
  • Taxation of sale of stock or interest in the partnership
  • Transfer of assets for stock or a partnership interest
  • Death of an owner
  • Hybrid structure planning

Prerequisites

An understanding of the taxation of c

The start date for this course has passed. Registration is no longer available.