LLC’s & S Corporations: a Comparative Analysis
LLC’s & S Corporations: a Comparative Analysis
CPE Credit:
8
Overview
Description:
This course focuses on the most common aspects and tax implications of Limited Liability Companies and S Corporations. It will further compare forms of entities, along with corporate formalities compliance issues of each entity type. Electing Subchapter S status as well as reviewing the mechanics of electing Subchapter S status will be discussed. Highlights of entity specific tax forms will be discussed, as well as accountable plans, taxable fringe benefits, officer reasonable compensation, estate planning, business continuation planning and audit strategies. Schedules K-1, K-2, K-3, and effectively connected income will be reviewed in this course as well.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Field of Study:
Taxes (8 CPE)
Instructor
Instructor:
Mary Jane Hourani, MM, EA, NTPI Fellow
Additional Details
Who should attend:
CPAs, EAs, Tax Professionals, Financial Planners, Investment Advisors, Attorneys, Professionals advising or working with LLCs and/or S Corporations
Program Level:
Intermediate
Program Content:
The major topics that will be covered in this course include:
- Comparative analysis of LLCs and S Corporations
- Entity formation, compliance, and operational structures
- Self-employment tax and its implications for LLCs and S Corporations
- Form 2553 preparation and relief for late filings
- Rev. Proc. 2022-19 and Rev. Proc. 2023-3: analysis and application
- S Corporation eligibility errors and corrective measures
- Corporate governance and formalities for both entity types
- Shareholder stock and debt basis for S Corporations
- Forms 1120S, 1065, and related schedules (K-1, K-2, K-3)
- Officer reasonable compensation and general partner guaranteed payments
- Audit strategies, estate planning, and business continuation planning
Learning Objectives:
After attending this presentation, you will be able to…
- Compare and contrast LLCs and S Corporations to determine suitability for various clients.
- Analyze LLC structures and their tax implications.
- Compare 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.
- Recall corporate governance procedures and compliance requirements for LLCs and S Corporations.
- Assess shareholder stock and debt basis for S Corporations.
- Recall key aspects of Forms 1120S, 1065, and related schedules (K-1, K-2, K-3).
- Indicate officer reasonable compensation and general partner guaranteed payment requirements.
- Apply facts and circumstances in advisory services to determine reasonable compensation.
Prerequisites:
None
Advanced Preparation:
None
Developed By:
Hourani & Associates Inc
Format:
Group-Internet-Based
Course Code:
HIMHLSC8
Our Partners
NASBA Sponsor
LLC’s & S Corporations: a Comparative Analysis
Course Code:
HIMHLSC8
Program Level:
Intermediate
Description:
This course focuses on the most common aspects and tax implications of Limited Liability Companies and S Corporations. It will further compare forms of entities, along with corporate formalities compliance issues of each entity type. Electing Subchapter S status as well as reviewing the mechanics of electing Subchapter S status will be discussed. Highlights of entity specific tax forms will be discussed, as well as accountable plans, taxable fringe benefits, officer reasonable compensation, estate planning, business continuation planning and audit strategies. Schedules K-1, K-2, K-3, and effectively connected income will be reviewed in this course as well.
This event may be a rebroadcast of a live event and the instructor will be available to answer your questions during the event.
Program Content:
The major topics that will be covered in this course include:
- Comparative analysis of LLCs and S Corporations
- Entity formation, compliance, and operational structures
- Self-employment tax and its implications for LLCs and S Corporations
- Form 2553 preparation and relief for late filings
- Rev. Proc. 2022-19 and Rev. Proc. 2023-3: analysis and application
- S Corporation eligibility errors and corrective measures
- Corporate governance and formalities for both entity types
- Shareholder stock and debt basis for S Corporations
- Forms 1120S, 1065, and related schedules (K-1, K-2, K-3)
- Officer reasonable compensation and general partner guaranteed payments
- Audit strategies, estate planning, and business continuation planning
Learning Objectives:
After attending this presentation, you will be able to…
- Compare and contrast LLCs and S Corporations to determine suitability for various clients.
- Analyze LLC structures and their tax implications.
- Compare 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.
- Recall corporate governance procedures and compliance requirements for LLCs and S Corporations.
- Assess shareholder stock and debt basis for S Corporations.
- Recall key aspects of Forms 1120S, 1065, and related schedules (K-1, K-2, K-3).
- Indicate officer reasonable compensation and general partner guaranteed payment requirements.
- Apply facts and circumstances in advisory services to determine reasonable compensation.
Who should attend:
CPAs, EAs, Tax Professionals, Financial Planners, Investment Advisors, Attorneys, Professionals advising or working with LLCs and/or S Corporations
Developed By:
Hourani & Associates Inc
Instructor:
Mary Jane Hourani, MM, EA, NTPI Fellow
CPE Credit:
8
Field of Study:
Taxes (8 CPE)
Prerequisites:
None
Advanced Preparation:
None
Format:
Group-Internet-Based
OR
Register By Phone: Call 877.370.2220 and press “1” for the webinar hotline to register
Price
Single Registration
$239.00
Upcoming Dates
- 6/16/2025 @ 9:00 AM
- 7/7/2025 @ 10:00 AM
- 8/8/2025 @ 9:00 AM
- 9/10/2025 @ 10:00 AM
- 10/21/2025 @ 9:00 AM
- 11/10/2025 @ 9:00 AM
- 12/17/2025 @ 9:00 AM
- 1/9/2026 @ 9:00 AM
- 2/13/2026 @ 10:00 AM
- 3/17/2026 @ 9:00 AM
- 4/22/2026 @ 9:00 AM
All times are Eastern Time Zone
