Entity Essentials
Whether you’re refining your tax preparation skills or helping clients navigate entity elections, this course will equip you with the knowledge and confidence to handle business entity taxation with ease.
What We Will Cover
Business Entity Classifications
A business entity’s classification for federal tax purposes is critical to correctly reporting its activities and strategizing to minimize its tax liability. Certain domestic and foreign entities or activities have elections available that give great flexibility to how federal law taxes the entity. This course will review the classification rules, the election options available, and relevant issues for each election, including eligibility, making the election, revoking the election, and late elections.
Learning objectives:
- Identify how and when partnerships can elect out of partnership treatment.
- Explain how a corporation makes a timely or late S election.
- Explain the default treatment and election options for domestic eligible entities, such as a limited liability company, and foreign eligible entities.
Business Entity Tax Planning
Every business should regularly review whether or not its structure for federal tax purposes is optimal. This determination will be especially important in 2025-2026 due to scheduled expiration of many Tax Cuts and Jobs Act provisions. This webinar discusses the tax advantages and disadvantages of the sole proprietorship, partnership, S corporation, and C corporation and how to evaluate each type for a business.
Learning Objectives:
- Describe the tax advantages and disadvantages of the sole proprietorship.
- Describe the tax advantages and disadvantages of the partnership.
- Describe the tax advantages and disadvantages of the S corporation.
- Describe the tax advantages and disadvantages of the C corporation.
- Compare the tax outcomes of the different entity choices in a business.
Partnership Tax Return Preparation
Most tax professionals are familiar with filing a Schedule C, but stumble or feel challenged when it comes to preparing a partnership tax return. In this session, you will be guided through the preparation of a partnership return using Form 1065. We will also review tips and tricks to make preparation of these returns efficiently and accurately.
Learning objectives:
- Analyze profit and loss statements and balance sheets to report them on a tax return
- Preparation of Schedule K-1 for partners
- Decipher the questionnaire on Form 1065
- Recognize balance sheet issues on Form 1065 and how to fix them
- Understand the difference between the M-1 and M-2 and how to properly complete those schedules
S-corporation Tax Return Preparation
Outside of sole proprietorships, S-corporations are the most popular entity types for small business taxpayers. This session will guide you through the preparation of S-corporation returns using principals learned in the partnership return preparation course. We will also cover important S-corporation issues such as reasonable compensation and profit distributions.
Learning objectives:
- Identify reasonable compensation for S-corporation shareholders and strategies related to reasonable compensation
- Understand the differences between the preparation S-corporation and partnership tax returns
- Decipher the questionnaire on Form 1120-S
- Understand the difference between Schedule M-1 and M-2
Pricing
2025 Entity Essentials – early bird discount
$459
Discount valid through April 1, 2025
Dates & locations
Northern California
San Jose
July 28, 2025
Delta Hotels
2151 Laurelwood Rd, Santa Clara, CA 95054
Concord
July 29, 2025
Location: TBD
Rohnert Park
July 30, 2025
Location: TBD
Sacramento
July 31, 2025
Location: TBD
Southern California
San Diego
July 21, 2025
Handlery Hotel
950 Hotel Cir N, San Diego, CA, 92108
Costa Mesa
July 22, 2025
Delta Hotels By Marriott, Anaheim-GardenGrove
12021 Harbor Boulevard, Garden Grove, CA, 92840
Ontario
July 23, 2025
Location: TBD
Norwalk
July 24, 2025
Location: TBD
Ventura
July 25, 2025
Location: TBD
On-demand
Release dates
July 25, 2025
Class starts promptly at 8:00 AM and ends at 4:30 PM.
All locations include continental breakfast, lunch, and free parking.
8 CPE Credits
IRS CPE Course Numbers:
UD2VU-T-00166-25-I
Self-study UD2VU-T-00166-25-S
CTEC Course Numbers:
1008-CE-1188
NASBA:
Program ID # 142999 for in-person CPA credits
Intermediate Level
Field of Study: Taxes
Meet The Instructors
Ryan Reichert, EA, CFP®
Ryan Reichert, EA, CFP® is a practicing tax professional from San Diego, California. His financial planning and business ownership background makes him specially equipped to handle new and often complex tax laws. Ryan has a knack for breaking tax topics into presentations that keep attendees engaged and learning throughout the day. He is also the owner of the client-facing publication Tax News and Tips
Thomas A. Gorczynski, EA, CTP, USTCP
Thomas A. Gorczynski, EA, CTP, USTCP is the Senior Tax Consultant at Gorczynski & Associates, LLC in Phoenix, AZ. He is an enrolled agent, a Certified Tax Planner, a Fellow of the National Tax Practice Institute (NTPI) and was admitted to practice before the United States Tax Court in 2015. He earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. His firm specializes in tax controversy representation and advanced tax planning strategies for small- and medium-sized businesses and rental owners. Tom is a nationally-known speaker on tax law and procedure and has spoken for the National Association of Enrolled Agents (NAEA), the California Society of Enrolled Agents Super Seminars, and other national, state, and local organizations. He is a skilled technical writer on tax law and strategy and is frequently published in both the EA Journal and the NATP TAXPRO Journal. He was the recipient of the 2018 Member of the Year award from the American Institute of Certified Tax Planners and the 2019 Excellence in Education award from NAEA.
Thomas A. Gorczynski, EA, CTP, USTCP
Thomas A. Gorczynski, EA, CTP, USTCP is the Senior Tax Consultant at Gorczynski & Associates, LLC in Phoenix, AZ. He is an enrolled agent, a Certified Tax Planner, a Fellow of the National Tax Practice Institute (NTPI) and was admitted to practice before the United States Tax Court in 2015. He earned a Master of Science in Taxation from Golden Gate University and a Certificate in Finance and Accounting from the Wharton School at the University of Pennsylvania. His firm specializes in tax controversy representation and advanced tax planning strategies for small- and medium-sized businesses and rental owners. Tom is a nationally-known speaker on tax law and procedure and has spoken for the National Association of Enrolled Agents (NAEA), the California Society of Enrolled Agents Super Seminars, and other national, state, and local organizations. He is a skilled technical writer on tax law and strategy and is frequently published in both the EA Journal and the NATP TAXPRO Journal. He was the recipient of the 2018 Member of the Year award from the American Institute of Certified Tax Planners and the 2019 Excellence in Education award from NAEA.
Success Starts Here
Why Trust Brass Tax Presentations?
We have entered into an agreement with the Office of the Director of Practice, Internal Revenue Service, to meet the requirements of 31 Code of Federal Regulations, Section 10.6(g), covering maintenance of attendance records, retention of program outlines, qualifications of instructors and length of class hours.
This agreement does not constitute an endorsement by the Director of Practice as to the quality of the program or its contribution to the professional competence of the enrolled individual.
Brass Tax Presentations is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of live in-person continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.
NASBA Program ID # 142999
Brass Tax Presentations is not registered with NASBA for self-study courses.