Help Your Client Choose the Best Entity Option
Starting a business can be a complicated transaction. Many factors can affect how the entity should be structured - including tax issues, sources of start-up capital, and how the company will be managed. Choosing the right entity at the outset can help to avoid time-consuming and costly changes in the future. Are you prepared to handle these intricacies and more? At this detailed seminar, gain the knowledge you need to make informed decisions for your clients. Advise wisely - enroll today!
- Compare various business entities to determine which one is best for your client.
- Smooth the process of incorporation and formation of subsidiary corporations.
- Understand the tax consequences for corporations, pass-through entities and tax-exempt organizations.
- Review sample formation documents and forms that you can use in your practice.
All times are shown in Eastern time
11:00 AM - 12:30 PM, Brandon M. Schwartz
- S CORPORATIONS IN DETAIL
- 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
- 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
12:40 PM - 1:25 PM, Mark W. Lawrence
- LLC VS. A CORPORATION: WHAT ARE THE PRINCIPAL NON-TAX DIFFERENCES?
- 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
1:35 PM - 2:20 PM, Christopher G. Stevenson
- TAXATION CONSIDERATIONS
- 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
This program is designed for attorneys. Paralegals may also benefit.