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Secure Transaction CPE Credits
3 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
This course offers an insightful exploration into the different types of business entities, featuring a comparative study of sole proprietorships, partnerships, LLCs, C corporations, and S corporations. Its key benefit lies in equipping participants with the knowledge to make informed decisions about the most suitable business entity for their specific tax and liability needs. By understanding the unique tax attributes, applicable taxes, permissible deductions, and termination processes for each entity type, participants can strategically use this information for optimal tax and financial planning. This course is an invaluable tool for anyone seeking to navigate the complexities of business entity selection with confidence and precision.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Cite the central differences among business entities and the advantages and disadvantages associated with basic business entity types.
- Recognize the tax attributes sole proprietorships, partnerships, LLCs, S corporations and C corporations and how each entity can be used to enhance tax and financial purposes and objectives.
- Specify the unique (e.g., self-employment) and general taxes applicable to particular entities and the tax forms that may be required.
- Identify the basic deductions that are permissible for each entity type and the conditions under which they are allowed.
- Determine the tax years, accounting methods and valuation methods that each entity type may use, and how the entities can be terminated.
- Specify for different entity types the basis and the tax effect of sales, exchanges, transfers, contributions, and distributions.
Course Specifics
8182143
April 3, 2024
There are no prerequisites
None
95
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02571-24-S
IRS Federal Tax Law Credits: 3
CTEC Course Number: 2071-CE-1361
CTEC Federal Tax Law Credits: 3
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
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …
QAS Self-Study
