Entities and Title (Mini)

  • Credits: 2
  • Format: Self-Study eBook
  • Field of Study: Federal Tax Law
  •  
  • Author/Speaker: Danny Santucci
Available Formats:  
Advanced Preparation: None
Experience Level: Overview
Program Prerequisites: General Understanding 
Course ID: EWTFM-T-01844-21-S | 6233-CE-0559
Published Date: © June 2021

COURSE DESCRIPTION

Before launching into an estate planning program, it’s important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to the formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, the emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.

Topics include:
  • Individual ownership & sole proprietorships
  • Corporations
  • Trusts & co-tenancies
  • Co-tenancy taxation, percentage interests & partition
  • Partnership taxation & recapitalization
  • Family partnerships
  • Limited liability companies
  • Retirement plans
  • Custodianship
  • Estate

Learning Objectives:

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

  • Specify the various types of corporations, identify S corporation rules and their tax advantages and disadvantages, cite the advantages and disadvantages of corporations relative to other types of entities, and determine how leasebacks to corporation’s work;
  • Identify the different types of joint ownership and how to use the benefits of partnerships, trusts, and limited liability companies to hold property;
  • Recognize the various retirement plans specifying how they can be used to provide substantial lifetime benefits to a business owner and employees.

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)

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