Avoid, Manage and Leverage Formation, Tax and Operating Agreement Oversights
We asked. You told us what the most common issues are that you encounter daily with your LLC clients. This practical full-day course, taught by seasoned faculty who overcome these hurdles on a consistent basis, will give you the exact mechanisms you need to tackle the problems you combat most. The unique business structure and rules of LLCs make them an invaluable instrument for your clients – don’t miss out on this opportunity to learn not only how to spot potential pitfalls, but also how to plan and design the LLC to better meet their needs. Register today!
- Review critical considerations when establishing entities to minimize LLC veil piercing.
- Determine when and how to use the LLC, as opposed to the S Corp.
- Uncover all the uses (and liabilities) of using LLCs in connection with trusts and tax planning.
- Review real-world operating agreement provisions gone wrong, including distribution, allocation, capital call and voting.
- Identify charging order landmines you must avoid.
- Find out common mistakes members make that allow the LLC veil to be pierced.
- Tackle tax mistakes made during LLC formation, change of tax status, conversion and reorganization.
- Taxation of LLCs – Top Attorney Mistakes
8:30 – 9:30, A. Neal Graham
- LLC Taxed as Partnership? Sub S Corp? C Corp?
- LLC or S Corp: Tax and Non-Tax Errors to Avoid
- Single Member LLCs Taxed as Disregarded Entity
- Pass Through Treatment and Formation Issues
- Changing LLC Tax Status and Conversion/Reorganization Tax Mistakes
- Transfer of Appreciated Property to the LLC
- Taxation on Sales of an Interest and Check-the-Box Regulation
- Employment/Self-Employment Tax Issues
- Compensation Planning, Use of Guaranteed Payments & Distributive Shares
- Termination, Liquidation and Dissolution Issues
- Death or Retirement of a Member
- Using Elections to Make Optional Basis Adjustments to Minimize Tax in Distributions
- Sale-Leaseback Arrangements
- Forming an LLC to Purchase Real Estate – Common Oversights
9:30 – 10:30, A. Neal Graham
- LLC Operating Agreements Gone Wrong (with Real-Life Examples)
10:45 – 12:00, Richard R. Spore III
- Capital Call/Admission of New Members
- Management Removal and Indemnification of Manager
- Voting Provisions and Transfer Restrictions
- Distribution and Allocation Clauses
- Amendments and Tax and Reporting Clauses
- Buy/Sell/Forced Sale Rights, Impasse and Dissolution
- Use of LLCs in Asset Protection and Estate Planning
1:00 – 2:15, Preston Wilson
- Piercing of the LLC Veil
2:30 – 3:40, Justin Joy
- LLC Ethical Traps
3:40 – 4:40, Justin Joy
- Role of Attorney in LLC Formation
- Avoiding Conflicts of Interest
- When to Refer an LLC Case Out
- Fraudulent Transfers
Training Course Summary: Top 6 LLC Mistakes to Avoid in Everyday Business Practices