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Choice of Entity: Tax and Non-Tax Considerations

Gain a better understanding of the various considerations that go into making a choice of entity decision. These elements will include updates from the Tax Cuts and Jobs Act, non-tax considerations, and how to avoid financial consequences.The dynamic of the choice of entity decision has significantly shifted with the passage of The Tax Cut and Jobs Act, most of the provisions of which went into effect as of January 1, 2018. The corporate income tax rates were significantly reduced, while owners of pass-through entities were granted a new 20% deduction on certain business income allocated to the owner. But the new tax law is just one piece of the puzzle, as there are various other factors to consider when deciding on an entity through which to operate a business. This topic will help counsel for entrepreneurs understand the various decision points that go into making such a decision. While the decision is often tax-driven, there are also a variety of non-tax considerations that are at play in the choice of entity decision that will be covered in this material. Choosing the wrong form of entity can have significant financial consequences, some of which can be mitigated with proper 'damage control', and some of which is irreversible. This information is critical for those who seek to ensure that they have a good grasp of the various pressure points on the choice of entity decision.


Runtime: 91 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Levels of Tax

Restrictions on Ownership

Formation Concerns

Deductibility of Losses vs. Exemption of Gains on Qualified Small Business Stock

Payroll Tax Concerns

Flexibility of Profit Allocations

Pass-Through Deduction

Net Investment Tax Concerns

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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on April 19, 2018.

Call 1-866-352-9540 for further credit information.

  • DE CLE 1.5
     
  • This program has been approved by the Delaware Commission on Continuing Legal Education for 1.5 hours of CLE credit.
     

To earn each credit Lorman offers through the OnDemand learning platform, you need to watch 100% of the program. Also, for certain credits you will need to fulfill additional requirements which will be displayed on the "credits" tab when viewing the course.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Richard Chou

Richard Chou

Blank Rome LLP

  • Associate with Blank Rome LLP
  • Provides tax advice to clients on various types of transactions, including mergers and acquisitions, formation and restructuring
  • Counsels a variety of clients, ranging from individuals and partnerships to multi-billion publicly traded corporations
  • Formerly worked at a “Big 4” public accounting firm, both in the compliance group and transactional services group
  • Certified public accountant
  • J.D. degree from University of Southern California, Tax LL.M. from New York University
Jeffrey M. Rosenfeld

Jeffrey M. Rosenfeld

Blank Rome LLP

  • Attorney in the Philadelphia office of Blank Rome LLP
  • Concentrates his practice in the area of business tax law
  • Counsels public and private corporations, partnerships, and individuals in a broad array of tax matters including domestic and international tax matters; state and local tax planning; tax-efficient structuring of domestic and international mergers, acquisitions, divestitures; reorganizations, spin-offs, redemptions and liquidations; formation, operation and acquisition of Subchapter S Corporations, partnerships and limited liability companies; federal, state, and local criminal and civil tax controversies, including audits, administrative appeals, and litigation; and issuances of equity-based compensation
  • Counsels corporate clients and individuals regarding undeclared foreign bank accounts, including FBAR reporting obligations, and has represented numerous clients in the Internal Revenue Service’s Offshore Voluntary Disclosure Program
  • Frequently writes on issues related to the FBAR and FATCA rules and regulations and international tax compliance issues
  • J.D. degree, University of Pennsylvania Law School; L.L.M. degree, New York University School of Law; B.S. degree, Yeshiva University
  • Can be contacted at 215-569-5752 or [email protected]
No photo available

Andrew Woodman

Blank Rome LLP

  • Associate with Blank Rome LLP
  • Concentrates his practice in the area of business tax law
  • Counsels public and private corporations, partnerships, and individuals in a broad array of tax matters including: domestic and international tax matters; securitization tax matters; state and local tax matters; tax-efficient structuring of domestic and international mergers, acquisitions, divestitures, reorganizations, spin-offs, redemptions, and liquidations; and formation, operation, and acquisition of Subchapter S Corporations, partnerships, and limited liability companies
  • Serves on the board of directors for New York Professional Advisors for Community Entrepreneurs (NY PACE), providing free legal advice to minority owned small businesses. He also serves as a 20th Anniversary Committee member for Legal Information for Families Today (LIFT)
  • LL.M. degree, Boston University School of Law; J.D. degree, cum laude, Albany Law School; B.A. degree, New York University
  • Can be contacted at 212-885-5205 or [email protected]
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

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Product ID: 400717
Published 2018
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