Surgent's Going Out on Your Own: Entity Types and Accounting Methods
Wednesday, July 9, 2025
Noon-2 p.m. Central
2 CPE (2 technical) | 2 IRS CE
Course code: 25WS-0543
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Starting a business is tough! There are lots of decisions to be made and things to think about. You may feel like you have a great idea. You have done your marketing research, developed a prototype, and even looked at locations for your new office. Then it dawns on you.... What type of entity do I need to be? Is there really an advantage to choosing one entity type over the other? In this class, we will dig into the differences between entity types -- from taxes to liability. We will also look at the advantages and disadvantages of different methods of accounting. Whether you are a small business owner looking to start something new or a practitioner looking to expand your client advisory services, this course is the one for you!
Major subjects
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Financial planning pyramid
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What to consider when picking an entity
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Single member LLC vs. sole proprietorship
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Corporations -- S vs. C
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Double taxation
Learning objectives
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Identify differences in how business entity types are taxed for income tax purposes
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Recognize how personal financial planning for a business owner is related to financial planning for a flow-through entity business
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Identify how S-Corporations are taxed for self-employment tax purposes
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Recognize double-taxation and when it applies
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Identify when a transaction should be recorded on the accounting records under the cash method
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Recognize when income is recognized and an expense must be accrued on the accounting records under the accrual method
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Identify what account should not appear on the financial records if the accrual method is being used
Who should take this program?
- Small business owners, CPAs, and financial advisers who want to understand the advantages and disadvantages of different entity types and accounting methods
Pricing
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$99.00
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