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Disregarded Entities? - Now You Don't See Them, Now You Do (ACDE18)

 
Date:Saturday, December 9, 2017
Time:1:00 PM - 3:00 PM
(Registration at 12:30PM)
Facility:Webcast or Webinar, Online
CPE Credit:2.0 Technical Business
Instructor: Bradley Burnett
Vendor:ACPEN
Course Level:Intermediate
Early Bird Price:$79.00 FICPA Members, $109.00 Non-Members

Description:

What is a disregarded entity (DE)?  It is a business entity that is generally disregarded from its owner for federal income tax purposes, but not disregarded for (some or all) other purposes. If an entity is "disregarded" for federal income tax purposes, it may be "regarded" for other federal tax and state law purposes.  Yes, indeed, a plethora of exceptions to being "disregarded" exist.  This unexpected, eye opening course capably explores and drills into what the tax planner, tax preparer and taxpayer must know about the disregarded entity rules and exceptions to them. It also illuminates why you can't afford not to care.



Objectives:

  • To learn how to analyze and detect when an entity is disregarded and when it is regarded

  • To take advantage of (and avoid getting clobbered by) the differences between the same entity being regarded in some contexts and disregarded in others for maximum asset protection and tax savings



    Major Topics:

  • Disregarded entities (DE)s for income, employment, excise and transfer tax purposes

  • LLC (partnership), SMLLC (single member LLC), grantor trust and Qsub compared?

  • LLCs, transfer (estate and gift) taxes and valuation (long live Pierre!!)?

  • Can an owner and DE have different methods of accounting? Oh really?

  • Asset protection benefits, pitfalls and tax advantages?- Some states great, others pathetic

  • When a DE must get a separate EIN from its owner, tax reporting (K-1s, 1099s, etc.), IRS matching, W-9s and backup withholding – How to avoid an unhappy ending

  • Spouses owning and operating LLCs?- How best to structure?

  • Employment tax liability heaven or hell?- Place your bet “up front”

  • Like kind exchanges and DEs

  • Tax effects of sale or liquidation of DEs

  • Are Grantor Trusts DEs? They walk, quack and swim like ducks, but do they have duck DNA?

  • Nooks and crannies in the check-the-box regs and rules - Why you can't afford not to care?

  • DE federal law vs. state law distinctions and intricacies - The opportunity and snare lie in the details



    Who Should Attend:
    CPAs, professionals in industry, tax planners, attorneys and taxpayers desiring to maximize asset protection and tax avoidance and minimize asset and tax exposure of business entity structure

    Prerequisite:
    None

    Advanced Preparation:
    None

    Session/Options

    If listed below, select the appropriate sessions or options to continue with your purchase.

    Registration Status: CLOSED - Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.