Disregarded Entities

A disregarded entity has many popular uses. It can be used to operate a business owned by a single-person, or may be used to invest in a partnership or S corporation. Whatever the reason an owner chooses to organize and operate a disregarded entity, income earned by a disregarded entity is personally reportable. Learn how you can help your clients navigate this challenging issue.

Last Revision: March 2024

$32.00
  

Prerequisites

Prerequisites are not necessary to participate in this course and no advance preparation is needed.

Course Description

A disregarded entity, or an entity that is not separately regarded from its owner for tax purposes, has many popular uses. A disregarded entity may be used to operate a business, owned and operated by a single-person, or may be used to invest in a partnership or S corporation. Whatever the reason an owner chooses to organize and operate a disregarded entity, income earned by a disregarded entity is personally reportable by the owner of the disregarded entity for federal tax purposes.

There are two types of disregarded entities that will be explored in this course:

1) The single-member limited liability company; and

2) The grantor trust. 

The tax implications involved with owning both of these entity types will be explored in depth.

CPE Facts

Affiliation* CPE Awarded Delivery Method Field of Study Course ID Sponsor ID
NASBA 2 Self-Study Taxes N/A 103137
CTEC 2/0 Self-Study Federal Tax Law 3038-CE-0335 3038
IRS 2 Self-Study Federal Tax Law FQTGU-T-00694-24-S FQTGU
Texas State Board of Accountancy 2 Self-Study Taxes 100408 002921
Pennsylvania State Board of Public Accountancy 1 Self-Study (Non-Interactive) Taxes N/A

* Individuals with other professional credentials should check with their state licensing board or accrediting organization to determine if this program meets their continuing education requirements.

Other Details
Last Revision April 2024
Course Expiration The CPE portion of this course expires one year from date of purchase
DrakeCPE Course Policies and CPE Affiliations