Choosing the Best Entity Structure Under the Tax Law in 2014

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Overview

8 Credits
IN-PERSON

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.

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

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 what entity structure to use under various circumstances, and relevant, recent 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
  • Impact of the manufacturers’ decision on choice of entity
  • Are C corporations the wave of the future? The impact of §1202

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

Prerequisite

A basic course in partnerships/LLCs, and in S corporations

Sessions

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Wednesday, December 17, 2014

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FICPA Seminar EZMaterials! Instead of picking up paper manuals at the event, you’ll be able to download the EZMaterials as searchable PDFs to your laptop, tablet or other device seven days before the event. For an additional fee you may choose to purchase a hardcopy of the seminar manuals. If requested during registration at least eight days prior to the course, your hardcopy will be available for pickup at the event. Click here for more information.