Your Ultimate Guide to LLCs
Our veteran faculty will walk you through the basic elements of LLCs while equipping you with practical how-to's, valuable pointers, cautionary advice and tips for avoiding common issues. Stay up to date with the latest LLC legislation, trends and developments; consider all factors in entity selection and formation; and work through basic operating agreement provisions. You will also learn more focused skills and applications, such as how to form LLCs to purchase real estate, avoid common tax issues and much, much more. Understand LLCs inside and out - order today!
- Review new rules and regulations and find out exactly what the Tax Cuts and Jobs Act (TCJA) means for LLCs and other pass-through entities.
- LLC, S-Corp, C-Corp, partnership or sole proprietorship? Examine major non-tax advantages and disadvantages of each when forming an LLC.
- Walk through the nuts, bolts and best practices for forming or converting to an LLC.
- Learn how to craft an airtight LLC operating agreement for your client.
- Find out how to use LLCs to purchase real estate and other special purposes.
- Get clarification on the most common tax uncertainties surrounding LLCs.
- Take full advantage of the many LLC liability protections and explore different uses of pass-through entities.
This is a rebroadcast of the original webcast delivered by Bradford E. Block, Douglas R. Griess and Brandon M. Schwartz on May 3, 2019. Faculty will be available to answer your questions after the program.
10:00 am to 5:00 pm Eastern Standard Time
- Reviewing Recent Case Law, Trends and Developments in LLCs (Including How the New Tax Law Affects LLCs)
10:00 - 10:30, Bradford E. Block
- How to Form and Operate an LLC: Getting the Mechanics Down
10:30 - 11:30, Brandon M. Schwartz
- Drafting Articles of Organization
- Reviewing Rights and Duties of Members
- Creating a Solid Management Structure
- Assignments of Membership Interests
- Drafting Buy-Sell Provisions
- Protecting Security Interests
- How to Handle a Member Disassociating from an LLC
- Drafting the Operating Agreement: Getting the Basics Down
11:45 - 12:45, Brandon M. Schwartz
- Reviewing Foundational Drafting Concepts
- Drafting Formation Provisions in the Agreement
- Preparing Management and Voting Provisions
- Crafting Distribution and Allocation Provisions
- How to Draft Enforceable Transfer Restrictions, Right of First Refusal, Impasse (Put/Call), Capital Call and Dissolution Provisions
- Using LLCs to Invest in Real Estate
1:15 - 1:45, Douglas R. Griess
- How to Best Handle Common LLC Tax Issues
1:45 - 2:45, Bradford E. Block
- Understanding Check-the-Box Classification System
- State Tax Classification: Electing the Best Option
- Managing Conversions from Other Entities
- Properly Handling Distributions and Allocations
- Reviewing Passive Activity Loss Rules
- How to Reduce Self-Employment Tax
- Properly Filing State Income Tax
- Examining Common Uses for LLCs
3:00 - 4:00, Douglas R. Griess
- Using LLCs for Estate Planning Purposes
- Doing Joint Ventures, Venture Capital Projects and Technology Ventures with an LLC
- How to Use LLC to Hold Tangible or Intangible Personal Property
- Using LLCs to Hold Life Insurance Policies
- Professional Limited Liability Companies
- Ethical Considerations
4:00 - 5:00, Brandon M. Schwartz
- Ethical Standards and Civil Liability
- The Role of the Attorney as Advisor in LLC Formation
- Avoiding Conflicts of Interest
- Confidentiality - Information Derived from an Earlier Representation
This course is designed for attorneys. Accountants, enrolled agents, tax preparers, banking professionals and paralegals may also benefit.