Entity Choice?"Tax Considerations

Course Details

Date

Friday, December 6, 2019

6:30am – 2:00pm
(Registration: 6:00am)

Field of Study

Taxation

Course Number

4193117D

CPE Credit

8.0 hours CPE credit

Level of Knowledge

Intermediate

Vendor

CalCPA Education Foundation

Prerequisites

An understanding of the taxation of corporations, S corporations and partnerships.

Description

Consider the difference in tax consequences based on a decision to be either a partnership, S corporation or C corporation. Also, review the significant changes made by the 2017 Tax Cuts and Jobs Act.

Attendees will 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 will also considered.

Materials are provided as an ebook for this course.

Highlights

  • Taxation of corporations and shareholders—potential double taxation
  • Comparison of individual and corporate tax rates
  • The qualified business income deduction, IRC 199A.
  • 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

Objectives

  • Identify and evaluate differences in tax rates applicable to corporations and individuals.
  • Explain and analyze the significance of the qualified business income deduction, IRC 199A.
  • 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.

Designed For

CPAs, financial professionals, attorneys and tax practitioners.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$245.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$375.00
Your Price $375.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

View All Webcasts