The founders of a business have a number of business entity types from which to choose. In the Types of Business Entities course, we describe the essential elements of the sole proprietorship, general partnership, limited partnership, C corporation, limited liability company, and S corporation, and note the circumstances under which they will be most suitable. This course is designed for the person who needs to quickly gain an understanding of each business type, and which one works best for a given situation.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Specify the advantages and disadvantages of each type of business entity.
Identify the formulation of tax basis for the partners in a partnership.
Specify the tax treatment when a partner sells his or her interest in a partnership.
Specify what types of businesses would qualify to be a personal services corporation.
Recognize which expenses are considered to be start-up expenses.
Recall why certain business entities are allowed a dividends received deduction.
Recall how a business entity can lose its S corporation status.
Major Topics
Sole Proprietorship
General Partnership
Limited Partnership
C Corporation
Limited Liability Company
S Corporation
Business Type Comparison
