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Scroll down for seminar details! Tailoring Taxation of LLCs: S Corporation vs. Partnership

An uncertain legislative climate makes business tax flexibility more critical than ever. There are strategic opportunities to apply different tax rules based on a client's situation.

During this 2-day seminar, we will compare LLCs taxed as partnerships with those taxed as S corporations. Depending upon the circumstances, either tax treatment can be beneficial. We will also address Illinois Series LLCs and LLC liability protection. By attending this seminar, you'll be able to advise clients about beneficial LLC tax options.

This very popular LLC seminar was last offered in 2014. The presentation and accompanying textbook, Limited Liability Companies: Electing Partnership vs. S Corporation Status, are updated for 2017.

Why you should attend

  • Recognize the benefits of LLC liability protection for your clients
  • Develop clear-cut solutions for business clients by understanding the different tax treatments available to LLCs
  • Create a plan to ensure the desired tax treatment for your LLC clients
  • Improve your ability to advise LLC clients and save them money
  • Identify clients that could benefit from organizing as Illinois Series LLCs

(Prefer to register by mail or fax? Use our printable registration form.)

Provides up to 16 hours CPE.

Registration Fee: $325 ($355 after June 2)

The fee for this two-day seminar includes a buffet lunch, morning and afternoon snacks, beverages, and the Limited Liability Companies: Electing Partnership vs. S Corporation Status textbook.

Dates and Locations:

  • Tuesday — Wednesday, June 20-21. Skokie
  • Thursday — Friday, June 22-23. Palos Hills
  • Tuesday — Wednesday, June 27-28. Springfield

Check-In: Begins at 7:30 a.m.

Instruction: Begins at 8:30 a.m. and concludes at 4:30 p.m. We will take a 45 minute lunch break (buffet lunch provided)

NASBA Program Level: Basic

CPE Filings Available: Illinois MCLE, Illinois Insurance, CFP, IRS

Tom O'Saben Tom O'Saben has been an instructor for the Tax School since 2009. During that time, he has also been a presenter with the National Association of Tax Professionals, where he served as a Training Specialist developing curriculum, writing textbooks, and instructing at educational seminars. Tom's practice, established in 1991, provides tax services for approximately 1,000 clients. Tom earned his bachelor's degree from Southern Illinois University Edwardsville. He is an enrolled agent (EA).

Sue Voth Sue Voth has been affiliated with the University of Illinois Tax School as an instructor since 2002. Sue also presents seminars nationally for National Association of Tax Professionals (NATP) and Premier Tax Seminars, Inc. She has served as an author and reviewer for the University of Illinois Federal Tax Workbook since 2002. Sue is an enrolled agent (EA) and has her own tax practice in Quincy, IL. She has been in tax practice for approximately 30 years.

Learning Objectives: By attending this seminar, you will be able to:

  • Discuss advantages of LLC protection compared to the liability protection of a partnership or S corporation
  • Advise clients about the consequences of converting a business to an LLC
  • Clarify how the Tax Code deals with S corporations, partnerships, and LLCs during each entity's life cycle
  • Describe tax consequences (including new regulations) associated with LLCs from formation through dissolution when electing partnership or S corporation status
  • Explain when it would be advantageous to use an Illinois Series LLC as an entity choice for clients

Audience: Tax practitioners.

Materials: Limited Liability Companies: Electing Partnership vs. S Corporation Status, 2017 edition. Table of Contents PDF

Delivery Method: Group-Live

NASBA Program Level: Basic

Field of Study: Taxes (NASBA), Federal Tax (IRS)

Prerequisite(s): Several years' experience preparing entity tax returns and an understanding of basic partnership and S corporation tax rules and regulations.

Advanced Preparation: None

CPE Credit

Tailoring Taxation of LLCs
CPE credits Up to 16 based on attendance
Field of Study (NASBA) Taxes (16)
IRS Category Federal Tax (16)
CFP Taxation (16)
IL MCLE Taxation (16)
IL Insurance General (16)

Please see the CPE FAQ for more information.

The University of Illinois Tax School is a sponsor of CPE for a variety of professional designations such as CPAs, EAs, CFPs®, attorneys, and insurance, etc. Agencies that typically recognize the University of Illinois Tax School as a sponsor of continuing education are:

  • Certified Financial Planner Board of Standards
  • Illinois Department of Insurance
  • Illinois Department of Professional Regulation
  • Internal Revenue Service
  • Iowa Supreme Court Commission on Continuing Legal Education
  • Missouri Bar Association
  • MCLE Board of the Supreme Court of Illinois

NASBA Accredited Continuing Education Provider LogoUniversity of Illinois Tax School (formerly Univ. of IL at Urbana-Champaign) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.


IRS-Approved Continuing Education Provider LogoThe Tax School has been approved as an IRS Continuing Education Provider. Tax preparers should always look for IRS approved providers when fulfilling their continuing education requirements.

Visit www.irs.gov/taxpros/ce for more information.


Participants are awarded credit based upon actual hours in attendance. Most accrediting groups recognize 1 hour of credit per 50 minutes of instruction. Some CLE groups recognize 1 hour of credit per 60 minutes of instruction.

Certificates of attendance are issued to participants after seminars conclude. In most cases, certificates are emailed after the conclusion of all seminars.

For EAs, Illinois Insurance professionals and CFPs®, the Tax School Office submits participant credit hours directly to the accrediting agencies.

An additional fee is required for processing CPE credits for IL insurance, CFP®, and IL MCLE.

See Frequently Asked Questions about CPE.

Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and federally registered CFP (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board's initial and ongoing certification requirements.

Last updated 4/24/2017 2:33:45 PM

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