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CPE Self-Study

Choice of and Formation of Entity - Tax Staff Essentials

  • $119.00-$149.00
    Choice of and Formation of Entity - Tax Staff Essentials Availability : Online Access Product #: 157745
    AICPA Member: $119.00
    Non-Member: $149.00
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Choice of entity issues are relevant throughout the life of a business. When starting a new business, a crucial first decision is choosing the correct form of entity to accomplish the company's goals. Likewise, it is equally important to know when an entity change is needed, as well as the tax consequences of the sale or liquidation of the various forms of doing business.

Updated for Tax Reform, this CPE course provides you with an overview of the everincreasing tax advantages and disadvantages of general and limited partnerships, C and S corporations, LLCs, and LLPs, and individual proprietorships. It will help you hone in on the key issues surrounding the myriad of factors that drive the optimal form of organization for a business. The course also includes several case studies from real-life client situations.

Learning Objectives

  • Understand the types of business entities and the tax advantages and disadvantages of each.
  • Identify circumstances that warrant converting from S to C Corporation and gain a basic understanding of how to make the conversion.
  • Interpret tax issues related to the formation of a corporation.
  • Evaluate other considerations regarding different entities and the impact on the business owner.

Key Topics

  • Types of entities
  • Formation and elections
  • Start-up and organization costs
  • Advantages and disadvantages comparison

Who Will Benefit?

CPA firm seniors (and above) and other tax professionals looking for the best techniques to select various entity forms to solve their clients' tax and business problems.

Discounts

Tax Section Members Receive Additional Savings!

When you log into this website with your AICPA member user account, the section/credential discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

Find out more information on the Tax Section.

System Requirements

About the Authors

Charles A. Borek, CPA, JD, MBA

Columbia, MD

Chuck Borek is a CPA and attorney with over 20 years of professional experience dealing with both business and nonprofit clients and has served in the capacity of officer and board member for several entities. He is also an award-winning speaker on a variety of accounting topics, having conducted over 300 live and web-based presentations across the country.

After serving for several years as a partner in a regional CPA firm in the Washington, DC area, Chuck founded The Borek Group, LLC, which develops professional education materials for both CPAs and lawyers. He concurrently acts as a consultant to the Columbia, Maryland firm of Davis, Agnor, Rapaport & Skalny, LLC.

In addition to his professional experience, Chuck has taught graduate students at American University and at the University of Baltimore and undergraduate students at Prince George's Community College in Maryland, where he held the position of Associate Professor of Accounting from 1998 to 2003. He is also a former Commissioner on the Howard County (Maryland) Pension Oversight Commission. Chuck has authored multiple books, articles, and professional publications for many organizations, including AICPA and BNA. He is currently working on several projects for a variety of publishers.

About the Publisher

American Institute of CPAs

The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with more than 418,000 members in 143 countries, and a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education and consulting.

The AICPA sets ethical standards for the profession and U.S. auditing standards for private companies, nonprofit organizations, federal, state and local governments. It develops and grades the Uniform CPA Examination, and offers specialized credentials for qualified professionals who concentrate on personal financial planning; forensic accounting; business valuation; and information management and technology assurance. With The Chartered Institute of Management Accountants (CIMA), it offers the Chartered Global Management Accountant (CGMA) designation, which sets the global benchmark for quality and recognition in management accounting.

The AICPA and CIMA also make up the Association of International Certified Professional Accountants (the Association), which represents public and management accounting globally, advocating on behalf the public interest and advancing the quality, competency and employability of CPAs, CGMAs and other accounting and finance professionals worldwide.

The AICPA maintains offices in New York, Washington, DC, Durham, NC, and Ewing, NJ.