If Your Clients Have LLCs, FLPs, C Corps, or S Corps,
Are You Giving Them the Right Advice?
As a professional advisor, you either may set up or encounter these various entities that hold business or investment assets for estate tax and asset protection purposes.
But, are you familiar with the basic income taxation rules that pertain to these entities - - and could adversely affect your clients’ estate and financial planning and result in potential liability for you?
Whether you’re a financial advisor, estate planning attorney or even a CPA, you should know:
- The unique tax treatment of LLC, FLP, C Corp and S Corp income
- How these entities work differently when distributions are made or ownership interests are sold
- What the benefit is of converting a C Corp to an S Corp (and how to explain it)
- How to identify the tax problems relating to the ownership of S Corp shares and how to solve them (including various QSSS, QSST, ESBT elections)
- And an alphabet soup of other special issues that can arise, including:
- PHC (personal holding company) tax
- E&P (earnings and profits) and the BIG (“Built-In Gains”) tax
- AAA (accumulated adjustments account)
- OAA (other adjustments account)
You need to be able to converse intelligently with your clients’ other advisors - - and coordinate with them to give clients the proper advice they expect.
Join us and nationally renowned CPA, Robert S. Keebler, for a special, 90-minute “what you need to know” program entitled, “Taxation of Business Entities”.