Limited Liability Companies: Current & Future Uses


If your company or clients haven't explored the possibilities of Limited Liability Companies (LLCs), they probably should. As the most popular entity for closely held businesses, the LLC can offer significant benefits for those who know how to take advantage of them. You'll learn:

  • When and how to use the LLC for new businesses and acquisitions
  • The LLC's role in asset protection and estate planning
  • The latest techniques for drafting LLC documents
  • When not to convert existing businesses
  • Tax treatment under check-the-box classification regulations



To provide accountants and other tax professionals with the know-how to make effective use of the limited liability company structure. You'll be equipped to advise your company or clients on compliance, asset protection, tax and estate planning issues. And you'll receive handy compliance and planning checklists.

  • Considerations in choosing a business entity: LLCs, LLPs, S corporations and state-specific entities
  • Evaluating various state laws, including the impact of federal check-the-box classification regulations
  • The LLC as an asset protection device
  • Formation and acquisition strategies
  • Conversions and rollouts
  • Federal and state tax treatment of LLCs
    – Nonrecourse debt
    – Classification under check-the-box regulations
    – Allocations
    – Cash method of accounting
    – Tax matters member selection
    – Self-employment tax issues
    – Estate planning issues
    – Cross-border tax issues
  • Compliance matters: tax and securities filings; qualification to transact business locally and in other states

Basic knowledge of federal and state taxation.


No advance preparation required.

Level of Knowledge: 


CPE Credit: 
NASBA Field of Study: