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Tax Cuts and Jobs Act Guide to Choice of Entity

  • ITEM SKU
    7725
  • CPE Hours
    4
  • Full Course Price
    $34.50
Exam Questions: 20
Course Level: Intermediate
Pages: 132 | Content: 120, Supplemental: 12
NASBA Area of Study: Management Services
Not Acceptable for: Enrolled Agents
Version: 7725A

The Tax Cuts and Jobs Act directly impacts how C corporations and pass-through entities will be taxed, thereby causing some businesses to reconsider their current entity structure. This course will discuss the factors involved in choosing a form of business entity under these rules. It will provide a solid understanding of the tax implications of choice of entity, the advantages and disadvantages of changing entities, and the factors to consider before making that decision. PLEASE NOTE: Not accepted for Enrolled Agents. All course material provided. Prerequisites: Understanding of taxation of pass-through entities. Course level: Intermediate.

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Course Information

Table of Contents
  • Introduction
  • Entities Analyzed in This Guide
  • Principal Factors Influencing Choice of Entity
  • Tax Rates
  • Relationship of Owners to Business Entity
  • Ownership of Real Estate by the Closely-Held Business
  • Exit Strategies
  • Entity Changes
  • Fringe Benefits
  • Conclusion: Tax Rates, Distributions, and Entity Choice
Objectives
  • To identify the types of entities that have emerged over time in the United States and their tax treatment
  • To recall tax rates for different entities
  • To identify some of the differences between a widely-held and a closely-held business
  • To recall the outcome of the Wharton study
  • Recognize the tax treatment of real estate held inside or outside of a corporation
  • To identify features of asset transfers and equity transfers
  • To recall some of the ways in which an entity can change from one status to another
  • To recognize the tax treatment of specific fringe benefits
  • To identify the type of business entity that is most advantageous in various situations

PLEASE NOTE: CPE credit measurement is based on NASBA Registry and QAS guidelines of one credit for every 50 minutes. Credit calculation may vary in different states — check with your State Board of Accountancy. Unless otherwise noted in the specific course description, no advanced preparation is required in order to register or complete any PES CPE course. Use of materials or services provided by Professional Education Services, LP ("PES") are governed by the Terms and Conditions stated on PES' website www.mypescpe.com. PES provides these courses with the understanding that it is not providing any accounting, legal, or other professional advice and assumes no liability whatsoever in connection with its use. PES has used diligent efforts to provide quality information and material to its customers, but does not warrant or guarantee the accuracy, timeliness, completeness, or currency of the information contained herein. Ultimately, the responsibility to comply with applicable legal requirements falls solely upon the individual licensee, not PES. PES encourages you to contact your state Board for the latest information and to confirm or clarify any questions or concerns you have regarding your duties or obligations as a licensed professional.