Entity Conversions: Opportunities and Pitfalls  

Taxpayers may begin business in one type of entity but find as their business evolves their original choice is no longer the best fit. We will discuss entity conversions, with a real world practical focus on incorporation under IRC Sec. 351 and S corporation elections (and revocations). LLCs are sometimes called “tax chameleons” as both single- and multi-member LLCs have the option to elect out of their default tax status. We will focus on the opportunities such elections may offer, with a prudent look at the possible tax pitfalls.

NOTE: The IRS RTRP Program has been replaced with a new, voluntary “IRS Annual Filing Season Program.” The AFSP Program requires that CE Sponsors continue collecting PTINs from IRS professionals who wish to receive IRS credit. CE Sponsors will then be able to report course completions for the PTIN holders who have provided this information. Therefore, all IRS PTIN holders (including Enrolled Agents) should enter their IRS PTIN into Checkpoint Learning so that course completions can be reported to the IRS. You do not need to enter your PTIN for each course you take; you only need to add it once. If you have any questions on how to do this, please contact us 800-231-1860.

THIS WEBINAR IS NOT ELIGIBLE FOR CTEC CREDIT.