Self-Study

Surgent's Going Out on Your Own: Entity Types and Accounting Methods

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Starting a business is tough! There are lots of decisions to be made and things to think about. You may feel like you have a great idea. You have done your marketing research, developed a prototype, and even looked at locations for your new office. Then it dawns on you…. What type of entity do I need to be? Is there really an advantage to choosing one entity type over the other? In this class, we will dig into the differences between entity types - from taxes to liability. We will also look at the advantages and disadvantages of different methods of accounting. Whether you are a small business owner looking to start something new or a practitioner looking to expand your client advisory services, this course is the one for you!

Major subjects

• Financial planning pyramid
• What to consider when picking an entity
• Single member LLC vs. sole proprietorship
• Corporations -- S vs. C
• Double taxation

Learning objectives

• Identify differences in how business entity types are taxed for income tax purposes
• Recognize how personal financial planning for a business owner is related to financial planning for a flow-through entity business
• Identify how S-Corporations are taxed for self-employment tax purposes
• Recognize double-taxation and when it applies
• Identify when a transaction should be recorded on the accounting records under the cash method
• Recognize when income is recognized and an expense must be accrued on the accounting records under the accrual method
• Identify what account should not appear on the financial records if the accrual method is being used

Who should take this program?

• Small business owners, CPAs, and financial advisors who want to understand the advantages and disadvantages of different entity types and accounting methods

Pricing

Our records indicate you are a nonmember. If you register, you will be charged $89.00 (Standard Nonmember Fee). Members: Please log in to receive member fee.

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Related programs

March 17, 2026 | LLCs and S Corporations: A Comparative Analysis | Webinar

March 19, 2026 | How to Choose the Right Business Entity for Your Client | Webinar

March 27, 2026 | Surgent's Unique Tax Attributes of Different Entity Types | Webinar

April 1, 2026 | Surgent's Going Out on Your Own: Entity Types and Accounting Methods | Webinar

April 9, 2026 | How to Choose the Right Business Entity for Your Client | Webinar

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Surgent's Max the Tax: Entity Selection | Self-Study (Downloadable PDF)

Surgent's Unique Tax Attributes of Different Entity Types | Self-Study (On-Demand)

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