2024 How to Choose the Right Business Entity for Your Client

Overview

Tax rates, personal liability, operations – these are all factors to be weighed when advising clients about their choice of entity decision.  This session provides a comparison of the multiple entity choices to start the discussion with clients and selecting the best tax efficient option for them.

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to kori.herrera@acpen.com.

Highlights

• Recent tax legislation and developments related to choice of entity -- such as sole proprietorship, single member LLCs, partnership/LLCs, S corporations, and C corporations
• Impact of the Section 199A deduction
• Ramifications of the C to S election and the S to C election
• Corporate tax rate to individual tax rate comparison examples

Prerequisites

Basic working knowledge of business taxation

Designed For

CPAs in public practice and industry seeking an update on the latest tax developments impacting choice of entity

Objectives

• Identify recent tax development impacting partnerships, LLCs, S Corporations, C corporations and sole proprietors
• Identify the tax benefits and consequences of multiple business entities

Preparation

None