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Course Details

Disregarded Entities: Now You Don’t See Them, Now You Do

About This Course:
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.

Learning Objectives
  • 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
Included Materials

All ACPEN courses include handouts that are available to download. Handouts typically include a version of the slides used by the presenter, as well as a full course manual or other materials.

How To Access Your Course And The Accompanying Materials

You will receive an email directly from ACPEN with instructions for accessing your course and any accompanying materials.

How To Get Your CPE Credits

This course qualifies for two CPE credit hours! In order to obtain CPE credit for viewing ACPEN webcasts, you must view the course during the scheduled date and time. Throughout the program, you will be prompted to save three attendance codes per hour. At the conclusion of the program, your CPE Certificate will be issued assuming all attendance codes have been saved and submitted. Detailed instructions for this process are included in the course introduction and in written form as part of course materials.
Course Details
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