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LLC's & S Corps -- A Comparative Analysis

 Various
 
4.0
Registration is Open
Member Price
$129.00 Regular Registration
Your Price
$159.00 Regular Registration
This course is being offered on multiple dates, listed below. Click the Register button next to your preferred date to register.
 Thu, 06/19/2025 from 2:00 pm to 6:00 pm
 Wed, 07/02/2025 from 12:00 pm to 4:00 pm
 Thu, 07/31/2025 from 3:00 pm to 7:00 pm
 Sat, 08/02/2025 from 9:00 am to 1:00 pm
 Tue, 09/02/2025 from 12:00 pm to 4:00 pm
 Thu, 09/11/2025 from 2:00 pm to 6:00 pm
 Thu, 10/02/2025 from 12:00 pm to 4:00 pm
 Thu, 10/23/2025 from 3:00 pm to 7:00 pm
 Mon, 11/03/2025 from 12:00 pm to 4:00 pm
 Tue, 12/02/2025 from 9:00 am to 1:00 pm
 Thu, 12/04/2025 from 3:00 pm to 7:00 pm
Designed For:

CPAs, EAs, and tax professionals advising or working with LLCs and S Corporations

Prerequisite:

None

This course provides an in-depth comparative analysis of Limited Liability Companies (LLCs) and S Corporations, focusing on their tax implications, compliance requirements, and operational structures. Participants will explore key aspects of entity formation, tax treatment, and compliance with corporate formalities. Topics include electing Subchapter S status, mechanics of Form 2553, and relief options for late filings under Rev. Proc. 2022-19. The course also highlights entity-specific tax forms, accountable plans, taxable fringe benefits, officer reasonable compensation, estate planning, business continuation planning, and audit strategies. Additionally, participants will review Schedules K-1, K-2, K-3, and effectively connected income for both entity types.

*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 [email protected]

Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

Sponsors

For Technical Support: 
Please contact the ACPEN Help Desk at (877) 602-9877, [email protected]   or visit https://vscpa.acpen.com/Support/. The Help Desk is available by phone 24/7, 365 days a year. Allow 1 business day for email

Objectives

  • Compare and contrast LLCs and S Corporations to determine suitability for various clients.
  • Provide a general overview of LLC structures and their tax implications.
  • Discuss the interplay of LLCs and S Corporations with self-employment tax.
  • Prepare Form 2553 for electing Subchapter S status and identify relief options for late filings.
  • Analyze Rev. Proc. 2022-19 and Rev. Proc. 2023-3, and understand their differences and applications under I.R.C. §1361 and §1362.
  • Identify and address S Corporation eligibility errors and implement corrective measures.
  • Review corporate governance procedures and compliance requirements for LLCs and S Corporations.
  • Examine shareholder stock and debt basis for S Corporations.
  • Highlight key aspects of Forms 1120S, 1065, and related schedules (K-1, K-2, K-3).
  • Discuss officer reasonable compensation and general partner guaranteed payment requirements.
  • Apply facts and circumstances in advisory services to determine reasonable compensation.

 

Speakers

Advanced Preparation

None

Vendor

The Virginia Society of CPAs (VSCPA) 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: NASBARegistry.org.

For more information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call (800) 733-8272.