Choice of Entities for Federal Tax Purposes
Author: Greg White
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Related for OTRPs
2 hours Federal Tax Law for CTEC |
Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2028 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card
Almost all tax professionals encounter the following question from clients: “What type of entity should my business be?” This course will help answer that question – we’ll use real-world strategies that will assist you in helping clients reduce their tax liabilities by proper selection of the best entity for their particular situation.
Publication Date: August 2025
Topics Covered
- Sole Proprietorships
- S Corporations
- Partnerships
- Trust and Estates
- C Corporations
Learning Objectives
- Determine which clients should convert from C corporation status to an S corporation
- Explain how the 20% §199A deduction affects choice of entity for federal tax purposes
- Identify circumstances where an LLC (taxed as a sole proprietorship or partnership) is preferred over an S corporation
- Explain the benefits of an S corporation to a C corporation
- Identify which entity provides the easiest way to take assets from the entity without paying tax
Level
Overview
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
