Tuesday, July 22 | 10:30 a.m. - 12:10 p.m. | Concurrent Session
Building an Empire: Entity Planning
2 CPE for AFSP, EA, CPA, CRTP
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As small business ownership continues to grow within our communities, many make decisions that leave them with entities they don't fully understand, and reporting requirements they never intended. As tax advisors, we can play a critical role by advising our clients when it's the right time to start a new entity and what its intended tax consequences are. In this session, we will work through examples of several growing entrepreneurs and outline what entity selections best fit the intended outcomes now and for proper legacy planning for future generations.
Objectives
Upon completion of this session, you will be able to:
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Identify the various available entity types, including LLC’s, and build a pros and cons list for various situations
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Identify if an S corporation election meets the client’s needs
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Educate clients on the increased compliance the S election
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Outline the best practices for required document requests to avoid unintended reporting pitfalls
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Summarize how to approach an entity planning engagement to provide clear guidance for now and the future goals of the client
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CPE information
Duration: 100 minutes
Course level: Intermediate
Prerequisite: Basic understanding of federal income tax
Advanced preparation: None
Delivery method: Group Live
