Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits
This course will introduce you to the different types of business entities and the tax implications of contributions, distributions and earnings, among other topics.
Publication Date: February 2023
Designed For
Corporate tax and finance executives, directors, managers and staff, CPAs, CAs Enrolled Agents, accountants, attorneys and business/financial advisors who work with and advise businesses that have tax implications.
Topics Covered
- Types of business entities (Sole proprietorship, Partnership, Corporation, Limited Liability Company and Limited Liability Partnership)
- Considerations in choosing a business entity, including taxes, limited liability protection, management & control, funding options & opportunities, tax consequences for the owners and the business
- Future tax considerations that will impact various business entities
Learning Objectives
- Recognize how to differentiate between the various types of business entities
- Recognize how to determine if a business client is using the most tax efficient entity structure based on its business goals
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Allison McLeod
Allison M. (Yee) McLeod, LL.M., JD, CPA, is currently a Senior Lecturer at the University of North Texas in Denton, Texas. She received Bachelor of Business Administration and Juris Doctor degrees from Baylor University, and a Master of Legal Letters (LL.M.) degree specializing in Taxation from the Southern Methodist University School of Law. Professor McLeod has also studied British and Art History at the University of Sussex, England.
Prior to joining the UNT faculty in 2010, Professor McLeod held the position of Director of Tax Planning and IRS Audits for Lehigh Hanson North America, a major manufacturer of cement, aggregates and other building materials. Her practice included both federal and international tax planning. Professor McLeod also spent thirteen years specializing in Tax Planning with the JCPenney Corporation, Inc., and two years with Deloitte & Touche in Dallas.
Professor McLeod has taught at the university level graduate classes on Ethics, Tax Research, Multi-jurisdictional Taxation, Individual Taxation and Corporate Income Tax in the past and currently teaches Financial Accounting and Ethics. She has also taught at the UNT College of Law as adjunct faculty. Since 2011, Professor McLeod has been honored to present live and on-line ethics CPE classes to CPAs across the nation. She also serves as an expert witness in accounting malpractice cases and maintains a small private practice serving individuals and small businesses. Professor McLeod has also taught at the University of North Texas College of Law as adjunct faculty. She has served on the Professional Ethics Committee of the Texas Society of CPAs and the AICPA CPA Exam REG Subcommittee.
Professor McLeod is licensed to practice law by the State Bar of Texas since 1992 and has been a Certified Public Accountant since 1993.