Tax professionals are often asked to assist taxpayers with deciding which entity structure would be most appropriate for their businesses. While the consideration and conversation often focus on the tax ramifications of the selection, there are other factors which must be considered. Prior to the Tax Cuts and Jobs Act, the conversation between a tax professional and client when making a decision about entity structure largely revolved around whether there was a need for legal liability protection and tax savings. Throughout this course we will analyze the advantages, disadvantages, tax reporting and other considerations among the available options. Instruction also includes several examples of the tax results for each entity option for various scenarios changing only one factor at a time in order to easily see the effects of each choice.

Learning Objectives

  • Identify possible entity choices available to taxpayers
  • Understand the difference between the entities available
  • Recognize certain factors that make one entity choice more appropriate than the others

Education Information

Length: 100 minutes  each plus optional question-and-answer session (no CE)

Prerequisite: None

Advanced Preparation: None

Program Level: Intermediate

IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00140-19-S 

Delivery Method: Self-Study

Field of Study: Federal Tax (IRS)

Credit hours: 2 IRS

Instructor: Geri Bowman, CPA, EA, USTCP Click here to learn more about the instructor.

All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here to learn more about our education policies.

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