When One Entity Just Won't Do

What does tax planning look like for taxpayers with more legal entities than you can count on one hand? How do you plan for the best outcome when it feels like there are a million moving parts? This session will cover tips for tax pros working with clients with a multi-entity structure. 

Objectives

Upon completion of this session, you will be able to: 

• Create an organizational chart for complex taxpayers, reflecting all of the legal entities they own and how to appropriately keep track of them 
• Identify the key factors in basis considerations when working with complex tax situations  
• Identify pitfalls regarding passive and active activities, as well as material participation and how the interplay of these items affects the end result  
• Create a framework for communicating these considerations to clients in a way they can understand and that sets up the tax professional for success when it comes to tax planning 

CPE