Description
Attorneys and tax professionals have several considerations when advising on which business structure a client should use for tax planning purposes. Counsel must evaluate the ownership, tax obligations, and tax compliance requirements that will need to be satisfied on an ongoing basis. To make matters more complex, the original entity type may not continue to be the ideal choice for tax purposes as the company grows and evolves.
A key factor in selecting the best entity is how the entity type affects the tax consequences to the business and the ownership. For those that intend to issue stock/options, raise capital, spin-off separate business lines, or deal with the particular issues of cashing out or business succession, the choice of entity at the beginning can have significant tax and operational impact on the business. For pass-through entities that have to navigate the 20% tax deduction under Section 199A and its many exceptions, a company's current or intended activities must be evaluated. For others, a conversion to a C corporation may be the best option as well.
In addition, some states have different tax rates for various entities and are taking differing approaches on how closely they conform to federal tax law for state income tax purposes. Therefore, failing to consider state tax laws can create avoidable tax difficulties for business owners.
Listen as our expert panel discusses how to make sophisticated decisions regarding entity choice, key provisions of U.S. tax law to be considered in entity selection, and avoiding the tax pitfalls in operations and asset or stock sales.
Presented By
Mr. Abodalo leverages more than five years of taxation experience to analyze circumstances wholistically, transforming tax issues into potential opportunities to use as negotiation leverage to drive deals forward. Over the course of his career, he has collaborated with and worked alongside some of the tax industry’s leading experts and scholars, learning from their expertise in order to forge his own. In addition, Mr. Abodalo assists clients who either want to expand their global footprint – by advising them on tax regimes and treaties of new countries in which they want to begin business – or in-bound clients who want to start operating domestically in the U.S.
Mr. Foreman co-chairs FRB’s Taxation Practice Group and advises businesses on the tax effects of a variety of corporate transactions, including taxable and tax-free reorganizations, mergers, sales, and acquisitions. He designs and implements tax-efficient structures for U.S.-based businesses to expand abroad and invest in foreign joint ventures. Mr. Foreman drafts tax memoranda and opinions on a variety of subjects, including tax-free reorganizations, tax-efficient return of capital to owners, Qualified Small Business stock, and various state pass-through entity taxes. He defends clients from audits from the IRS and various state tax agencies, including appealing audit determinations. Mr. Foreman advises clients on a variety of tax issues related to cryptocurrencies, including initial coin offerings (ICOs), taxability of staking and air drops, and the imposition of Sales and Use taxes on the issuance of non-fungible tokens (NFTs). He drafts tax portions of Operating and Shareholder Agreements for businesses in different industries. Mr. Foreman has extensive experience in a variety of SALT issues, especially New York State residency audits and state Sales and Use tax nexus issues post-Wayfair.
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This 90-minute webinar is eligible in most states for 1.5 CLE credits.
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BARBRI is a NASBA CPE sponsor and this 90-minute webinar is accredited for 1.5 CPE credits.
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BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
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Date + Time
- event
Thursday, November 13, 2025
- schedule
1:00 p.m. ET./10:00 a.m. PT
I. Types of entities
A. Partnerships
B. LLCs
C. Corporations
II. Tax consequences
III. Determining when to convert
A. Circumstances that create need to convert
B. How to determine what to convert to
The panel will review these and other relevant topics:
- How are various business types taxed under current tax law?
- What tax consequences should be considered when choosing an entity?
- What circumstances would create the need to convert a chosen entity?
Learning Objectives:
After completing this course, you will be able to:
- Identify federal tax rules applicable to various entity types
- Understand the tax consequences that must be considered when choosing an entity
- Recognize circumstances that would create the need to convert a chosen entity to another entity type for tax purposes
- Field of Study: Taxes
- Level of Knowledge: Intermediate
- Advance Preparation: None
- Teaching Method: Seminar/Lecture
- Delivery Method: Group-Internet (via computer)
- Attendance Monitoring Method: Attendance is monitored electronically via a participant's PIN and through a series of attendance verification prompts displayed throughout the program
- Prerequisite:
Three years+ business or public firm experience at mid-level within the organization, supervising other preparers/accountants, preparing complex corporate tax forms and schedules. Specific knowledge of rules governing corporate entity structuring, and federal income tax treatment of business entities.
BARBRI 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 Credits. Complaints regarding registered sponsons may be submitted to NASBA through its website: www.nasbaregistry.org.
BARBRI is an IRS-approved continuing education provider offering certified courses for Enrolled Agents (EA) and Tax Return Preparers (RTRP).
BARBRI CE webinars-powered by Strafford-are backed by our 100% unconditional money-back guarantee: If you are not satisfied with any of our products, simply let us know and get a full refund. Contact us at 1-800-926-7926 .
