Course Description: A study of the tax consequences of using partnerships, S corporations, and limited liability companies for business operations, with an examination of the tax aspects of choice-of-entity, operational, and divestment decisions for small and family-owned businesses. Prerequisite: Master of Business Administration, Master of Accountancy, or other Graduate standing.
Section Description: This course is designed to expand your knowledge of federal tax concepts and rules governing business activities conducted in so-called pass-through or flow-through entities. In particular, the course discussions and materials will focus on the tax implications of various transactions for partnerships, limited liability companies, and S corporations as well as for their respective owners. In addition, this course will highlight various tax and other considerations that impact choice-of-entity, operational, and divestment decisions, especially in the context of small and family-operated businesses. Tax accounting often relies on many detailed and changing rules. Nevertheless, by the end of this course, you should understand basic reporting (compliance) requirements and fundamental tax concepts well enough to identify and discuss issues about: - What consequences a contribution has for an entity and its owners, - How and when an entity's items pass through to its owners, - Whether distributions trigger taxable income, - How an entity and its owners account for a sale of an ownership interest, and - Whether taxpayers can satisfy their personal and business objectives with these entities.
|W||12:00 - 15:00||KALKIN BUILDING 325|
Instructor(s): Glenn C Walberg
Meeting Dates: 16 Jan 2018 - 04 May 2018