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Secure Transaction Essentials of Limited Liability Companies
Format
Self-Study
Course Level
Overview
CPE Credits
1 Credits: Taxes
Course Description
For professionals navigating the complex business landscape, understanding when and how to utilize a Limited Liability Company (LLC) is crucial, yet often challenging. The ‘Essentials of Limited Liability Companies’ self-study CPE course is designed to address these challenges, offering comprehensive insights into the world of LLCs. The course starts with the problem: the intricate decision-making process involved in choosing an LLC as a business entity. It agitates this issue by exploring the potential pitfalls and misunderstandings related to LLCs, such as tax implications, capital structure complexities, and management alternatives. The solution lies in the course’s detailed exploration of the advantages and disadvantages of an LLC, its formation process, and the transition to an LLC from other legal structures. By completing this CPE course, participants will gain a thorough understanding of the conditions under which an LLC operates, the type of record-keeping required, the representation of ownership interests, and the handling of negative capital balances. The self-study CPE course also demystifies the tax issues associated with start-up capital and specifies the necessary tax returns for LLCs and their members. This knowledge empowers professionals to make informed decisions about using LLCs effectively and efficiently in their business endeavors.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize the conditions under which an LLC is allowed to operate.
- Specify the type of record keeping that should be applied to an LLC.
- Identify how a capital interest represents the ownership interests of an LLC’s members.
- Recognize how a negative capital balance can arise.
- Identify the situations in which an LLC can repudiate a contract signed by one of its members.
- Recognize the tax issues associated with the start-up capital of an LLC.
- Specify the tax returns that must be filed by an LLC or its members.
Course Specifics
SS824365897
January 8, 2024
There are no prerequisites.
None
36
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02415-24-S
IRS Federal Tax Law Credits: 1
CTEC Course Number: 2071-CE-1983
CTEC Federal Tax Law Credits: 1
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Steven M. Bragg, CPA, is a full-time book and course author who has written more than 300 business books and courses. He provides Western CPE with self-study courses in the areas of accounting and finance, with an emphasis on the practical application of accounting standards and management techniques. A sampling of his courses include the The New Controller Guidebook, The GAAP Guidebook, Accountants’ Guidebook, and Closing the Books: An Accountant’s Guide. He also manages the Accounting Best Practices podcast. Steven has been the CFO or controller of both public and private companies and has been a consulting manager with Ernst & Young and …
QAS Self-Study
