This course provides an introduction to the U.S. federal income taxation of pass-through business entities, including Subchapter S corporations, partnerships, and limited liability companies. The course focuses on the relevant provisions of Subchapters S and K of the Internal Revenue Code, as well as related Treasury Regulations and judicial opinions, governing the formation, operation, and termination of pass-through entities. Practical in-class study problems facilitate self-discovery of technical tax knowledge along with the development of a variety of professional skills and attitudes.
Lesson 5.4.5 Applications
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Reviews
SS
May 13, 2020
Michael P Donohoe is a great professor and He explained all the tax provisions very nicely and covered almost the majority of concepts.
RR
Apr 21, 2020
This has been thorough and intense with respect to content and coverage of all that matters in every general business entity.
From the lesson
Module 5 Other Pass-Through Entities
In this module, we will examine the concepts of pass-through entities with an introduction to other pass-through business models. We will analyze limited liability companies (LLC), limited liability partnerships (LLP), family partnerships, and Subchapter S corporations (S corp). We will discuss the unincorporated nature of the LLC, which offers both the limited liability of a corporation and the tax implications of a partnership. Next, we will discuss LLP and family partnership. We will also explore the increased limitation to liability and eligibility requirements necessary. Finally, we will analyze the qualifications and procedures for a corporation to elect S corporation status.
Taught By
Michael P Donohoe, PhD, CPA
Associate Professor of Accountancy and PwC Faculty Fellow
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