This course will arm the participant with clarity about alternatives regarding choice of entity. Recent changes to tax law have businesses making decisions about the most advantageous choice of entity and reviewing their decisions. Participants will be empowered to have more focused discussions with their clients and to offer recommendations to those clients who own businesses or are planning to do so.
• Identify 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.
· Types of entities
· Formation and elections
· Start-up and organization costs
· Advantages and disadvantages comparison
Primarily managers and partners in public accounting, CFOs, controllers, and business owners
3-5 years of tax experience