Enrolled Agent ExamPrep: Business Taxation Business Entities, U.S. Business Taxation: Understanding Business Entities.
Course Description
Gain a clear and practical understanding of how different U.S. business entities are structured and taxed. Whether you’re an aspiring tax professional, business owner, or student, this course will equip you with the knowledge to make informed decisions and stay compliant with IRS regulations.
In this comprehensive course, you’ll explore the key types of U.S. business entities—including Sole Proprietorships, Partnerships, LLCs, Corporations, and Tax-Exempt Entities—and understand their tax implications, legal requirements, and operational features.
We begin with an overview of business entity types and move into detailed lessons covering:
- Sole Proprietorships and Single-Member LLCs
- Partnerships, Multi-Member LLCs, and Qualified Joint Ventures
- C Corporations and S Corporations
- Limited Liability Companies (LLCs) and their flexible classifications
- Tax-Exempt Organizations and IRS 501(c)(3) compliance
You’ll also learn about default IRS classifications, how to apply for an Employer Identification Number (EIN), and the differences between fiscal and calendar year accounting methods.
To ensure a strong foundation in compliance, we’ll cover tax reporting obligations and how to differentiate between hobby and business income—an essential distinction in tax law.
Each module includes expert insights, real-world examples, and practical explanations designed for learners at all levels.
By the end of this course, you’ll have a solid grasp of:
- U.S. business entity structures
- Their respective tax treatments
- How to comply with essential federal tax filing requirements
Whether you’re preparing for the EA or CPA exam, managing your own business, or just starting your journey into U.S. taxation, this course offers valuable insights you can apply immediately.
