The limited liability company is perhaps the most revolutionary business organization to be developed in the past 500 years. A combination of corporate and partnership concepts, this unique organizational structure has presented more than its share of tax complications. In this course, we will explore some of the trickier aspects of LLC taxation.

Areas Covered:-

• How and when an LLC can elect to be an S corporation
• The unique status of the single-member LLC
• Tax consequences of contributions and distributions
• The difference between allocations and distributions
• Traps for the unwary, like the disguised sales rules
• Employment taxes and LLC members