Choosing the correct business entity is one of the most critical—and sometimes one of the most challenging—decisions business owners make. This course will help you through the process, outlining the advantages and disadvantages of different entity types, allowing you to select the right business entity for specific tax and liability needs. This course describes and compares sole proprietorships, partnerships, limited liability companies, C corporations, and S corporations.
Upon successful completion of this course, participants will be able to:
- Cite the central differences among business entities and the advantages and disadvantages associated with basic business entity types.
- Recognize the tax attributes sole proprietorships, partnerships, LLCs, S corporations and C corporations and how each entity can be used to enhance tax and financial purposes and objectives.
- Specify the unique (e.g., self-employment) and general taxes applicable to particular entities and the tax forms that may be required.
- Identify the basic deductions that are permissible for each entity type and the conditions under which they are allowed.
- Determine the tax years, accounting methods and valuation methods that each entity type may use, and how the entities can be terminated.
- Specify for different entity types the basis and the tax effect of sales, exchanges, transfers, contributions, and distributions.
Choose Your Preferred Format
Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.
Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.
Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.
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