- NY Credits : 9.0
- TX Credits : 9.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 9.0
This course is a full, but concise explanation of the history, structure, application, and special advantages of an increasingly common, but important business form: the limited liability entity. This course will provide instruction on when to use a Limited Liability Company (LLC) or a Limited Liability Partnership (LLP), and how best to make use of the special tax and nontax advantages these entities offer. This course focuses on the development of in-depth knowledge, skill, and application in limited liability entities. This course is most appropriate for the professional with mastery of limited liability entities who may be a seasoned professional within an organization but also may be appropriate for other professionals with specialized knowledge in limited liability entities. This course has been updated to include the relevant tax provisions of the Tax Cuts and Jobs Act of 2017.
Upon successful completion of this course, the user should be able to:
describe the tax treatment of LLCs and LLPs;
account for capital contributions and distributions;
distinguish between mergers, conversions, and dissolutions;
compare professional LLCs, LLPs, and foreign LLCs and LLPs;
contrast LLC or LLP versus C or S corporations; and
identify LLCs, LLPs, and partnerships.