Total Credits: 2 including 2 Taxes - Technical
What is a disregarded entity (DE)? It is a business entity that is generally disregarded from its owner for federal income tax purposes, but not disregarded for (some or all) other purposes. If an entity is "disregarded" for federal income tax purposes, it may be "regarded" for other federal tax and state law purposes. Yes, indeed, a plethora of exceptions to being "disregarded" exist. This unexpected, eye opening course capably explores and drills into what the tax planner, tax preparer and taxpayer must know about the disregarded entity rules and exceptions to them. It also illuminates why you can't afford not to care.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to firstname.lastname@example.org.
*To learn how to analyze and detect when an entity is disregarded and when it is regarded
*To take advantage of (and avoid getting clobbered by) the differences between the same entity being regarded in some contexts and disregarded in others for maximum asset protection and tax savings
* Disregarded entities (DE)s for income, employment, excise and transfer tax purposes
*LLC (partnership), SMLLC (single member LLC), grantor trust and Qsub compared
*LLCs, transfer (estate and gift) taxes and valuation (long live Pierre!!)
*Can an owner and DE have different methods of accounting? Oh really
*Asset protection benefits, pitfalls and tax advantages - Some states great, others pathetic
*When a DE must get a separate EIN from its owner, tax reporting (K-1s, 1099s, etc.), IRS matching, W-9s and backup withholding – How to avoid an unhappy ending
*Spouses owning and operating LLCs - How best to structure?
*Employment tax liability heaven or hell - Place your bet “up front”
*Like kind exchanges and DEs
*Tax effects of sale or liquidation of DEs
*Are Grantor Trusts DEs? They walk, quack and swim like ducks, but do they have duck DNA?
*Nooks and crannies in the check-the-box regs and rules - Why you can't afford not to care
*DE federal law vs. state law distinctions and intricacies - The opportunity and snare lie in the details
|Disregarded_Entities_Slides (0.16 MB)||Available after Purchase|
|Disregarded Entities_Q&A (0.01 MB)||Available after Purchase|
|Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (0.47 MB)||Available after Purchase|
|IRS CE Credit Request Form (0.15 MB)||Available after Purchase|
Bradley Burnett, J.D., LL.M. (Taxation), is a practicing Colorado tax attorney with 33 years of tax practice experience. His practice emphasis is on tax planning and tax controversy resolution. He also prepares a handful of tax returns.
Prior to establishing his own law firm in 1990, he practiced tax accounting with national and local CPA firms, worked as trust officer for a Denver bank and managed the tax department as partner in a medium-sized Denver law firm. After receiving his undergraduate degree in accounting and law degree (J.D.), he earned a Master of Laws (LL.M.) in Taxation from the University of Denver School of Law Graduate Tax Program.
Mr. Burnett has delivered more than 3,000 presentations on U.S. tax law throughout all fifty U.S. states, Washington, D.C., the Bahamas, Italy, Greece, Turkey and Canada. He has authored texts of 35 CPE courses.
Bradley served as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an Employment Tax course and occasionally pinch hit teaching the IRS Practice and Procedure topic. He has appeared on television answering tax questions for call-in viewers of Denver NBC affiliate KUSA Channel 9. Brad received the Illinois Society of CPAs Instructor Excellence Award for teaching in Chicago and five times has been the top rated, most requested instructor for CPA Society annual tax conferences.
Burnett’s seminar style is to deliver the subject matter in briskly paced, enthusiastic and witty fashion. His forte’ is the candid communication of practical ideas relating to tax law.
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
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