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An 800 number connects you to nationally recognized practice leaders who will speak on important issues and emerging trends in the law. You can also pose your own questions to the speakers. Written materials and other details are emailed in advance to pre-registrants.
1 CLE hour
Choice of entity for service-based businesses differs from businesses that produce or market tangible goods. Service-based businesses have regulatory and liability risks that are different than companies that produce goods. This is particularly the case for professional practices in law and medicine. These businesses also generate income that may be treated differently for federal tax purposes, including application of the new 3.8% tax on net investment income. Furthermore, the management and ownership of service-based businesses, and the way they are financed, indicate different entity selections than for other businesses. This program will provide you with a practical guide through sophisticated tax, regulatory, practical and other considerations of choosing an entity for a service-based entity, including professional medical and legal practices.
• Sophisticated choice of entity consideration for service-based business, including professional practices
• How choice of entity differs for service-based businesses versus others
• Tax, regulatory and other considerations
• Special issues for law, medical and dental practices
• Issues for new entities and entities that change form because of changes in law, owner circumstances, or business
• Major self-employment tax and fringe benefit considerations, including the 3.8% tax on net investment income
• Using multiple entities to achieve variable ownership, management and tax goals
Allen Sparkman is a partner in the Houston and Denver offices of Sparkman Foote, LLP. He has practiced law for over forty years in the areas of estate, tax, business, insurance, asset protection, and charitable giving. He has written and lectured extensively on choice-of-entity, charitable giving and estate planning topics. He is the Colorado reporter for the books "State Limited Partnership Laws" and "State Limited Liability Company Laws," both published by Aspen Law & Business. He has also served as president of the Rocky Mountain Estate Planning Council. Mr. Sparkman received his A.B. with honors from Princeton University and his J.D. with high honors from the University of Texas School of Law.