LLC's & S Corporations: a Comparative Analysis (C67747)

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Cancellation Policy

Please note that this webinar Is from a third party vendor, CPA Crossings. We strongly recommend registering no later than one-hour before the webinar begins. Please contact CPA Crossings webinar hotline if you do Not receive your webinar invitation via email within five minutes after registering:  877-370-2220 ext. 1. Thank you.

Date(s):

05/01/2025

Registration Open:

12:00 AM - 8:00 AM

Time:

8:00 AM - 4:00 PM

Facility:

 Online

Meeting Type:

Webinars

CPE Credit:

8.00

Field(s) Of Study:

Taxes (8.00)

Level of Knowledge:

Intermediate

Price:

Member: $239.00
Nonmember: $259.00

Individual Discounts:

Not Available

Overview

After attending this presentation, you will be able to...

  • Compare and contrast LLCs and S Corporations to determine suitability for various clients.
  • Analyze LLC structures and their tax implications.
  • Compare the interplay of LLCs and S Corporations with self-employment tax.
  • Prepare Form 2553 for electing Subchapter S status and identify relief options for late filings.
  • Analyze Rev. Proc. 2022-19 and Rev. Proc. 2023-3, and understand their differences and applications under I.R.C. §:1361 and §:1362.
  • Identify and address S Corporation eligibility errors and implement corrective measures.
  • Recall corporate governance procedures and compliance requirements for LLCs and S Corporations.
  • Assess shareholder stock and debt basis for S Corporations.
  • Recall key aspects of Forms 1120S, 1065, and related schedules (K-1, K-2, K-3).
  • Indicate officer reasonable compensation and general partner guaranteed payment requirements.
  • Apply facts and circumstances in advisory services to determine reasonable compensation.

Highlights

The major topics that will be covered in this course include:

  • Comparative analysis of LLCs and S Corporations
  • Entity formation, compliance, and operational structures
  • Self-employment tax and its implications for LLCs and S Corporations
  • Form 2553 preparation and relief for late filings
  • Rev. Proc. 2022-19 and Rev. Proc. 2023-3: analysis and application
  • S Corporation eligibility errors and corrective measures
  • Corporate governance and formalities for both entity types
  • Shareholder stock and debt basis for S Corporations
  • Forms 1120S, 1065, and related schedules (K-1, K-2, K-3)
  • Officer reasonable compensation and general partner guaranteed payments
  • Audit strategies, estate planning, and business continuation planning

Speaker(s)

Prerequisites

None