In this 90-minute session, Paul Hood will do a deep dive into the myriad of tax and non-tax considerations involved in deciding whether a new entity should take a particular form or whether an existing entity should change forms. The Tax Cuts & Jobs Act of 2017 reduced the top corporate rate to 21% and instituted the Section 199A 20% small business deduction, both of which present business owners with an important but difficult choice-of-entity question: “Is it better to be a C Corporation or a pass-through entity?” And what about proposed tax law changes that would roll back or eliminate the 2017 act?
In this presentation, Paul will compare the various types of business forms—sole proprietorship, S corporation, limited liability company (LLC), general partnership, limited partnership, and C corporation—on approximately 65 tax and non-tax factors. The comparison will include the complexity of formation and operation, the importance of professional maintenance, availability of special allocations of items of income, gain, loss, deduction and credit among owners, the contribution of property in exchange for an ownership interest, the contribution of services in exchange for an ownership interest, and the permitted eligible owners of each type of entity.
Questions abound considering the choice-of-entity decision today. What’s new to consider? How could changes to the income tax law impact the choice-of-entity decision? Is there a “Holy Grail” of entity forms? What’s the proper way to approach the choice-of-entity evaluations? Paul will provide a systematic framework to analyze these questions as well as answers to these and many other questions during this webinar. Don’t miss this presentation!
Paul Hood obtained his undergraduate and law degrees from Louisiana State University and an LL.M. in taxation from Georgetown University Law Center. Paul has taught at the University of New Orleans, Northeastern University, The University of Toledo College of Law, and Ohio Northern University Pettit College of Law. Paul has authored or co-authored seven books and over 500 professional articles on estate and tax planning and business valuation. A frequent contributor to Leimberg Information Services since its inception, Paul is a highly sought-after speaker and consultant due to his innate ability to see through complexities and explain difficult and even boring subjects in understandable and entertaining language. He minces no words in doing so. Along the way, Paul’s been a father, husband, lawyer, trustee, director, president, partner, trust protector, director of planned giving, expert witness, agent, professor, judge, juror, and a defendant, and he uses his experience in these myriad roles to guide others.
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