Changing from a Multiple Member LLC to a Single Member LLC Webinar
As your LLC clients’ business operations and classifications change, make sure you’re able to advise them through this transition while preparing their tax returns. In this webinar, we will walk through the process of changing an LLC from a multiple- to single-member LLC. The IRS treats single-member LLCs as sole proprietorships or corporations, and does not classify it as a partnership. There are also different tax forms necessary to file, such as Form 8823 (Entity Classification Election) and agreements from existing members, when transitioning from a multiple- to single-member LLC. If you have LLC clients, this is a key webinar for you!
Upon completion of this course, you will be able to:
- List the steps for properly transitioning from a multi-member LLC to a single-member LLC.
- Identify the tax consequences for the LLC and LLC members.
- Identify reporting requirements of the single-member LLC.
Our researchers will answer your questions during the presentation. This webinar includes the presentation slides, Q&A transcript and access to the webinar recording.
Laura Strombom, EA, MBA, NTPI Fellow