Changing from a Multiple Member LLC to a Single Member LLC On-Demand 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.
This webinar includes the presentation slides, exam questions, live webinar recording with review questions, and Attendee Top Questions. CPE is issued after exam is successfully completed.
Laura Strombom, EA, MBA, NTPI Fellow