Choosing the Right Business Entity and Getting Cash Out of It (ebook)

  • Credits: 22
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
  • Author/Speaker: Danny Santucci, CPA
Course ID: Advanced Preparation: Experience Level:
EWTFM-T-01590-20-S | 6233-CE-0317 None Overview
Published Date: Program Prerequisites: Other Course Formats:
© March 2020 General Understanding of Taxes Self-Study eBook
COURSE DESCRIPTION

This comprehensive book describes and compares sole proprietorships, partnerships, limited liability companies, “C” corporations and “S” corporations. It examines their advantages and disadvantages, permitting the reader to properly select the right business entity for their tax and liability needs. The major emphasis is given the maximization of tax benefits in each business format. Fringe benefits, retirement plan alternatives, and nonqualified deferred compensation are discussed in detail.

Topics include:
  • Advantages & disadvantages
  • Formation
  • Schedule C
  • Self-employment tax
  • Estimated tax
  • Sale of a business
  • Classification of assets
  • Other business dispositions
  • Income splitting
  • Estate planning

 

Learning Objectives:

After reading the course material, you will be able to:

  • Determine the advantages and disadvantages associated with sole proprietorships, and specify the formation requirements.
  • Identify not-for-profit activities particularly as they relate to Schedule C businesses and recall the various requirements permitting such businesses to complete the C-EZ form or request an automatic filing extension. 
  • Recognize the taxes imposed on self-employed persons specifying compliance with payment requirements, determine how sole proprietorship assets are characterized on disposition and, identify income splitting and estate planning devices available for such business owners and their impact on entity choice.

 

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Tax Return Preparers (TRPs)

 

Qualifies and Approved with all State Boards of Accountancy and the following sponsorship’s:
NASBA
IRS
CTEC