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:
- Identify the requirements for being a sole proprietor
- Specify the easiest of the business types to form and operate
- Name tax forms and strategies to reduce tax used by sole proprietors
- List possible abuses that may arise in family partnerships.
- Cite tax rules that apply to partnerships.
- Identify when a business is considered to be terminated.
- List characteristics that make LLCs unique
- Determine tax rules that may affect a C corporation in the first year and going forward
- Choose the accounting method for businesses required to keep track of inventory
- Determine how items like losses and fringe benefits should be dealt with by S corporations
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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