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Courses/Tax/NASBA - Taxes *

LLC Classifications

This webinar will go in depth about everything you ever wanted to know about LLC classifications.

Created byNicholas Preusch
5.0
(3 reviews)
BeginnerUpdated May 26, 2022
LLC Classifications

What You'll Learn

check_circleIntroduction to LLC for income tax purposes
check_circleWhar are Default Classifications & which entities will be taxed as partnerships.
check_circleTo understand about Tax election – Form 8832 & Form 2553
check_circleDetermine the tax consequences of partnership contributions and distributions.
check_circleSelect the proper method for allocating items of partnership income, gain, loss, deduction and credit.

About This Course

This webinar will go in depth about everything you ever wanted to know about LLC classifications. We will first look at what being an LLC means and how the entity will file their tax returns. We will look at both foreign and domestic entities and how the check the box rules will vary based on if it is foreign or domestic. Lastly, we will look at the tax consequences of changing entity classifications.

Field of Study: Taxes

Your Instructor

Nicholas Preusch
Nicholas Preusch
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star423 reviews

Nick Preusch’s primary focus is performing tax services for high wealth individuals and mid-to-large business entities. Nick’s responsibilities include tax research related to complex business transactions and tax return preparation and review. He also works closely with businesses and individuals to find tax efficiencies through ever-changing tax legislation. He was also an Internal Revenue Service (IRS) attorney at the IRS National Office in Washington, DC, where he was the lead attorney for several significant tax ethics cases. Nick co-authored Tax Preparer Penalties and Circular 230 Enforcement, a textbook published by Thomson Reuters. He has also been published in the AICPA’s Tax Advisor and Journal of Accountancy along with CCH’s Journal of Tax Practice and Procedure. In 2017, he was named one of the VSPCA’s Top 5 Under 35. In 2018, he was named to CPA Practice Advisor’s Top 40 Under 40. In 2018, he was part of the AICPA’s New Face of Tax ad campaign. Nick is a licensed attorney in New York and a Certified Public Accountant in Virginia. He earned an LLM in Taxation from Georgetown University, a JD from Case Western Reserve University, and an MS in Accounting from the University of Connecticut.

Credit Information

What Students Are Saying

5.0
Student's Choice
3 reviews

Frequently Asked Questions

We are a registered provider with 327+ associations and regulatory bodies worldwide. We operate across 29 global markets including Canada, the US, Australia, and the UK. Every course page clearly displays its specific accreditations. Upon completion, you receive a professional certificate that can be validated online. Our certificates include all necessary accreditation details, credit hours, and completion dates, and are formatted specifically to meet the submission requirements of most global regulatory bodies.