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Entities and Title - Mini CourseCode: 22-ENTITY2
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Course description and objectives:
Before launching into an estate planning program, itís important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.
After reading the materials, participants will be able to:
1. Distinguish between the various types of corporations, clarify S corporation rules and their tax advantages and disadvantages, contrast the advantages and disadvantages of corporations relative to other types of entities, and explain how leasebacks to corporations work;
2. Differentiate between the types of joint ownership, describe how to use the benefits of partnerships, trusts and limited liability companies to hold property;
3. List the various retirement plans and how they can be used to provide substantial lifetime benefits to a business owner and to employees.
Presentation Method: Self-Study
CPE credit: 2 Hours
Program Level: Update
Advance Preparation: None
Exam expiration date: Participants must submit exams for grading within one year from the date of purchase