Business entity presentation 110321
15
LLP VERSUS P.C. VERSUS SOLE PROPRIETOR SOLVING THE PUZZLE Roger Royse Royse Law Firm, PC 1717 Embarcadero Road Palo Alto, CA 94303 [email protected] www.rroyselaw.com www.rogerroyse.com Skype: roger.royse IRS Circular 230 Disclosure: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advice contained in this communication, including any attachment to this communication, is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to any other person any transaction or matter Attorney’s Breakfast Meeting March 23, 2011
-
Upload
roger-royse -
Category
Business
-
view
700 -
download
0
Transcript of Business entity presentation 110321
LLP VERSUS P.C. VERSUS SOLE PROPRIETOR
SOLVING THE PUZZLE
Roger RoyseRoyse Law Firm, PC
1717 Embarcadero RoadPalo Alto, CA 94303
Skype: roger.royse
IRS Circular 230 Disclosure: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advice contained in this communication, including any attachment to this communication, is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to any other person any transaction or matter addressed herein.
Attorney’s Breakfast Meeting
March 23, 2011
2
www.loomiscpas.com
Howard LoomisPartner
267 E. Campbell Avenue, Suite 200Campbell, CA 95008
Phone (408)[email protected]
LLP VERSUS P.C. VERSUS SOLE PROPRIETOR
SOLVING THE PUZZLE
3
Notes:
LEGAL REQUIREMENTS
Notes: Notes:
P.C.LLP Sole Proprietor
4
Notes:
LIABILITY PROTECTION
Notes: Notes:
P.C.LLP Sole Proprietor
* Except for own malpractice & payroll tax claims
* Except for personal negligence
5
Notes:
LLP
SINGLE LAYER OF TAX
Notes: Notes:
P.C. Sole Proprietor
* Depends on S Election
6
Notes:
LLP
INCOME TAXES AND FEES
Notes: Notes:
P.C. Sole Proprietor
* Pay $800 annual fee
7
Notes:
LLP
METHODS OF ACCOUNTING
Notes: Notes:
P.C. Sole Proprietor
8
Notes:
LLP
YEAR ENDS
Notes: Notes:
P.C. Sole Proprietor
9
Notes:
LLP
USE OF BENEFIT PLANS
Notes: Notes:
P.C. Sole Proprietor
10
Notes:
LLP
SELF EMPLOYMENT TAXES
Notes: Notes:
P.C. Sole Proprietor
11
Notes:
LLP
SPECIAL ALLOCATIONS OF INCOME
Notes: Notes:
P.C. Sole Proprietor
12
Notes:
LLP
BASIS FOR DEBT
Notes: Notes:
P.C. Sole Proprietor
13
Notes:
LLP
CONVERSION, SALE OR LIQUIDATION
Notes: Notes:
P.C. Sole Proprietor
LLP VERSUS P.C. VERSUS SOLE PROPRIETOR
SOLVING THE PUZZLE
Roger RoyseRoyse Law Firm, PC
1717 Embarcadero RoadPalo Alto, CA 94303
Skype: roger.royse
IRS Circular 230 Disclosure: To ensure compliance with the requirements imposed by the IRS, we inform you that any tax advice contained in this communication, including any attachment to this communication, is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing or recommending to any other person any transaction or matter addressed herein.
Attorney’s Breakfast Meeting
March 23, 2011
15
www.loomiscpas.com
Howard LoomisPartner
267 E. Campbell Avenue, Suite 200Campbell, CA 95008
Phone (408)[email protected]
LLP VERSUS P.C. VERSUS SOLE PROPRIETOR
SOLVING THE PUZZLE
