1 CPE One of the first major decisions a startup or emerging business will need to make is regarding choice of entity. Selecting the right corporate framework--corporation, LLC or partnership--is critical to the success of any businesses. How can you determine the best fit for your emerging company?
This course provides general guidance for non-lawyers dealing with the issues which arise in deciding what type of entity form should be used for a budding business. The instructor will introduce a framework to help you analyze the different attributes of business entities, including four key considerations:
- The lifecycle of the entity: Is this a single purpose entity, or will it grow over time?
- Realities of death and taxes: How to close a business and manage the associated tax implications
- Administration: What level of administration is required for your business?
- Liability: Does your new business require you to carry personal liability insurance?
Learning Objectives
- Discover a framework for determining which form of entity is suitable for your business
- Explore the four basic contract types and the advantages and disadvantages of each
- Understand real world uses of different entity types
Last updated/reviewed: August 17, 2023
60 Reviews (203 ratings)
Reviews
Anonymous
(disabled)
The course is a great overview of business formations and covers a great number of advantages and disadvantage of each class of business. The attorney does a great job in his presentation and gives great examples to reinforce concepts. He even goes into forms that are required in the state of California. I've learned a great bit of information..
Anonymous
(Manager/Corporate Planning)
Some of the editing of the instructor dialog is choppy - for example in the "Corporation" portion you can hear him curse (damn) at about the 3:23 mark and then at around the 7:00 mark he seems to be cut-off mid-thought and so you miss the point being made.
All-in-all, good information is provided and there is certainly value in the course.
Anonymous
()
The speaker was a little slow. In all fairness, I may have felt that way because I already knew most of the information, but I would think the general audience of these courses probably do too.
Derek Ettinger
( at GP Fund Solutions, LLC)
Course was not thrilling, but definitely provided a solid overview of the different entity structures. Instructor clearly has years of experience and was able to elaborate on key points.
Anonymous
()
This course was awesome. I really learned more in depth about the types of business entities. I would like to take a course under this instructor again; I really enjoy it. Thank you!
Jacob Rothman
(Portfolio Manager at Rothman Investment Management)
This was a good basic primer on the forms of business organization. It covered the topic well, but was a little dry, as the presenter appeared to be reading off of a script.
Laura Reames
(Owner at Reames CPA Services)
I learned the basics, but am wondering what’s up with slides. The yellow is hard to read and they look about 40% complete. Maybe this wasn’t the final version?
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
This was a good basic overview of non-tax considerations when choosing the type of entity. I would recommend for the beginner or refresher for a non-practioner.
Anonymous
()
This is a helpful introductory overview. My only issue was in the editing of the audio recording - the beginnings and endings of some slides were cut off.
Anonymous
(Accounting Professional)
It seemed dated — LLPs were “new” and no discussion of single member LLCs. Also weird editing left several sentences without complete thoughts.
Anonymous
(Controller)
I would have liked to see a matrix table with all entity types with checkmarks flagging differences, pros and cons, etc,difficulty in setting up,etc.
Nicole Osborne
( at MAO Solutions, LLC)
The course was very informative. However, you had to view the presentation in pieces, it was not a seamless transition from one topic to the other.
Wade Haviland
(Staff Business Analyst at Intuit)
Excellent, straight-forward course if you are considering creating an entity or support a product that is utilized among a variety of entity types.
Anonymous
(CPA / Owner)
Good overview of the types of legal entities available and some of the advantages and disadvantages of each. A bit monotone, but easily understood.
Tamara McLendon-Coleman, RP®
(Legal Analyst at DHL)
This was an excellent overview of the advantages and disadvantages of various entity types. Corporate Paralegals would benefit from this course.
Anonymous
(President)
Understanding which difference between the S- corp and the C-Corp. It helps me to select which is the best choice in for various circumstances.
Anonymous
(Independent Financial Consultant)
Great overview of the various types of business entities and the pros/cons of each one. Good refresher for any financial professional.
Anonymous
(CPA/Investment Advisor)
A bit long for the subject matter covered, but overall a good summary of the factors to consider when choosing an entity type
Anonymous
(Owner)
Great overview and even a few considerations I have never thought about before. Would take more classes from this presenter.
Anonymous
(CPA)
Even though the presentation is clear at the end of each chapter the words get cut out and the sentence is not finished.
Anonymous
(Unclaimed Property Administrator)
Informative. Background noise. dull presentation. Clear PowerPoint. Background wording "damn" not very professional.
Anonymous
(Consultant)
Good basic review of different options. Always good to listen to them so that one has a good idea of what to suggest.
Catherine Bullock
( at Catherine Bullock CPA)
Concise and easy to listen to but I couldn’t find a continuous play option. Also he didn’t really go into S Corp.
Anonymous
(Assistant Controller)
It breaks down the differences of each entity type on a broad level without going into specific legal/tax details.
I am thinking of going into business with another CPA and the course gave me a lot to think about. Thank you!
Janine Korovesis
(Controller at Google)
Very useful. Would appreciate additional content on tax considerations and annual reporting requirements .
Anonymous
()
Great job, very useful information, thank you so much! Great course and very informative. I appreciate it.
Leonard Sloane
(Chief Operating Officer at New York Mobile Satellite, LLC)
Great overview of business corporate structure along with legal and tax issues in selecting a structure.
Lorna Fisher
(Retired Finance Professional with active.. at Retired and enjoying time to pursue pers..)
Good overview of the different entities and advantages/disadvantages of incorporating under each type.
Anonymous
(Financial Controller)
Great review of the different entity types for those looking to decided which entity is best for them.
Peter Morris
(Consultant at Treasury)
Excellent, well-prepared overview of entity structure from both a legal and tax perspective.
Norman West
(Financial Manager at Lockheed Martin)
This was a good reminder about things to consider when choosing the form of business entity.
Anonymous
(CFO)
Good overview - would have liked a little more on the tax impacts of the entity decision
Anonymous
(GL Manager)
Course was ok, had to go back and listen to the lectures. I was not engaged at all.
Eric Cox
(Senior Accountant at Mondo)
Lots of good knowledge a CPA should know about these different types of entities.
Anonymous
(Principal)
instructor provided a good overview of the characteristics of each type of entity
Maya Walker
(Global Controller at Fourth Enterprises)
Best course I’ve done on this topic. It was well organized and easy to follow.
Anonymous
()
Editing of video was poor at times, but good basic content about entity options.
Tyler Ellens
(Staff Acountant at Evenhouse & Co. P.C.)
The information was very good but he presentation was a little hard to follow/
Robert Godfrey
(CPA at Robert Godfrey, CPA)
Good course, but didn't explain how an LLC does more/better than an LP
JEFFREY GULLANG
(Controller at Upper Valley Financial consulting)
good quick presentation to prompt the next group of questions/concerns
Anonymous
(Vice President)
Course is informative, but very basic in its information offering,
Julia Misaki
( at Attivo Partners)
Good basic knowledge of entity structure types. Straight forward.
Anonymous
(Not Provided)
Good discussion of the differences in the types of organizatioins
Stephen Scott
(Sourcing Manager at Intuit)
course was set up well, and the presentation was easy to follow.
Michael Morgus
(cfo - consultant at none)
great high level overview - good refresher on the basics.
Nancy Moreland
(Principal at N. L. Moreland)
succinct presentation, useful way to compare the options
Anonymous
(Chief Financial Officer)
presenter read very slow, but generally informative
Charissa Putnam
(Controller at Great White Shark Opportunity Fund)
Excellent refresher. Well laid out presentation.
David Cowan
(Principal at Redbay Consulting)
Concise overview with clear presentation.
Terri Salazar-Rodriguez
(None at None)
Good general overview for intro course.
Anonymous
(Vice President of Finance )
Nice/clear presentation of the facts
Dee Madhavpeddi
(Certified Public Accountant at Dee & Associates)
Easy explanation and informative
Anonymous
(-)
Overall it was a solid course.
Anonymous
(Assistant Accounting Manager)
Useful information.
Candace Oliver
(Independent Consultant at C Oliver)
very basic class
Anonymous
(CFO)
Very informative
Anonymous
(Partner)
Good refresher
Craig Ward, CPA
(Chief Financial Officer at Geigerrig)
Good overview.
Anonymous
(Accountant II)
Good summary.
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA
95113
Contact:
For more information regarding this course, including complaint and
cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to
.
Robert HawnAttorney, Strategy Law, LLP
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