Entities & Title (Self-Study) 2 CPE (For PA CPAs Only)
Before launching into an estate planning program, it’s important to know who owns what and exactly for whom you are planning. This requires that methods of holding title must be analyzed, considered, and selected. Sole proprietorships, S corporations, C corporations, partnerships, and limited liability companies are analyzed as to formation, operation, and ultimate disposition. Since who or what holds title imposes its own unique tax and legal consequences on the estate plan, emphasis is given to the maximization of tax benefits in each business format. While each has its own separate characteristics, several may be used together in more sophisticated planning.
After reading the materials, participants will be able to:
- Specify the various types of corporations, identify S corporation rules and their tax advantages and disadvantages, cite the advantages and disadvantages of corporations relative to other types of entities, and determine how leasebacks to corporations work;
- Identify the different types of joint ownership and how to use the benefits of partnerships, trusts and limited liability companies to hold property;
- Recognize the various retirement plans noting how they can be used to provide substantial lifetime benefits to a business owner and to employees.
Danny C. Santucci earned his Bachelor of Arts in Political Science from the University of California at Irvine in 1969. He received his Juris Doctorate from Boalt Hall School of Law, University of California at Berkeley in 1972, at which time he began practice as a tax attorney in Southern California. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines & Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders, in Irvine, California. Serving as a lecturer for the Continuing Education of the Bar of California, Golden Gate University, and numerous state C.P.A. societies, Danny has taught a variety of tax, business, and real estate courses.
home or office
||2 Tax CPE (For PA CPAs Only)
understanding of federal income taxation
||Self-Study e-book with online test (10 exam questions)
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