Course ID: 20811 | Course Duration: 1 Day

LLC or Inc.? Entity Selection for a Small to Medium Sized Business Training Class

Course ID: 20811

LLC or Inc.? Entity Selection for a Small to Medium Sized Business Training Seminar

Custom-Tailor the Business Entity Choice to Each Client's Individual Business Needs

When a client comes to your office aflame with a fantastic new idea for a business, are you ready to offer him sure footing to start out with? How will your knowledge of business entity laws and mechanics stack up when existing business clients ask for your help in restructuring their company? Our engaging course of study offers a detailed comparative analysis of the most popular business entity organizational structures on today's market to help you find the perfect business match for any client. Ensure smooth business operations and continuous tax savings for every client - register today!

Clearly distinguish between various types of LLCs, corporations and hybrids to determine which fits the specific situation best.
Know how the "check the box" income tax regulations come into play when forming a business entity.
Review sample formation documents that you can use in your practice.
Utilize tax benefits with an understanding of how LLCs are taxed as pass-through entities.
Organize all the tax-saving, liability-limiting, estate-planning tools into a comprehensive business structure packet for a single business owner.
Take a detailed look at the "little darling" of business entities - the S Corporation, and learn how to make the best use of the advantages it offers.
Walk through the process of conversion to an LLC and find out when it isn't the best option.
Help your clients avoid the legal pitfalls of doing business across state and country borders with these practical tips.


	Agenda
	LLC VS. A CORPORATION: WHAT ARE THE PRINCIPAL NON-TAX DIFFERENCES? 9:00 - 10:00 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe Organizational Structure (Including: Stock vs. Non-Stock; For-Profit vs. Non-Profit; Closely Held vs. Public; Mutual Benefit Corporation; Single Member vs. Many Members; Member Managed vs. Manager Managed; PLLC; Series LLC, etc.) Member Control of Assets, Ownership Personal Fiscal Responsibility/Liability of the Members Investor Attraction The Lifetime of the Business Entity International Business Ramifications of Using an LLC Determining Which Business Structure Fits the Specific Situation Best - Pros and Cons of Using Either S CORPORATIONS IN DETAIL 10:15 - 11:15 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe Why Choose an S Corporation? Pros and Cons of Using S Corporations The S Corporation vs. an LLC Determining if an S Corporation is Right for You or Your Client Establishing the S Corporation (Including: Internal Revenue Code Requirements; Ineligible Businesses; Operating Agreements; Corporate and Shareholder Elections) Management of the S Corporation Dissolution and Termination THE PROCESS OF INCORPORATION VS. LLC FORMATION 11:15 - 12:30 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe Selecting the State in Which to Incorporate Drafting the Articles of Incorporation and Filing with the State Government LLC Articles of Organization and the Filing Process Operating Agreement vs. Shareholders Agreement Sample Forms and Documents TAXATION CONSIDERATIONS 1:30 - 2:30 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe LLC as a Partnership Partnership Basis & Loss Concepts Single-Member LLC (Pass-Through Taxation) Taxation of the S Corporation and LLCs as S Corporations "Check the Box" Income Tax Regulations Tax Challenges in Converting to an LLC WALKING THE ETHICAL LINE 2:30 - 3:30 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe Ethical Standards and Civil Liability The Role of the Attorney as Advisor in Entity Formation Avoiding Conflicts of Interest: Who Is the Client? Confidentiality - Information Derived From an Earlier Representation Adequacy of Fees and Charges ADVANCED ISSUES IN BUSINESS ENTITY SELECTION 3:45 - 4:30 Christian M. Bates, Adrienne A. Knauer and Scott R. Poe How Hard is it for Individual Members to Exit the Entity? What's the Procedure Involved? Handling Disputes Between Members or Shareholders Cross-Species Mergers, Acquisitions and Conversions Doing Business Across State Borders Maintaining the Status of the Business Business Succession and Other Estate Planning Considerations

Audience

This basic-to-intermediate level seminar offers a detailed comparative analysis of legal and financial aspects of LLCs and Corporations and will benefit: