On Demand Audio

Tax Concepts for the Closely-Held and Family Owned Business

(525 reviews)

Produced on October 13, 2016

Taught by
$ 59 Tax Law and Business, Corporate, & Securities Law In Stock
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Course Information

Time 60 minutes
Difficulty Intermediate

Course Description

As a business owner, is the Internal Revenue Code just an 86,000-rule mess? If so, this is the seminar for you. The Internal Revenue Code is very complex, so complex in fact that many professionals spend their entire careers practicing solely in the area of tax. Understanding the tax code is critical to utilizing credits that exist and accelerating deductions in order to plan the best tax strategy possible. In this program, attorney Roman Basi addresses critical tax concepts, including knowing what business entity to choose, the basics of tax in operations, and disposition issues that will empower the business person to make use of the most complicated set of laws in this country—tax law.


Learning Objectives:

  1. Identify how to select an entity from an alphabet soup of choices
  2. Understand how entity selection affects tax issues
  3. Shape and mold entity operation and tax issues to one’s favor
  4. Grasp exit strategies, business succession, and tax issues

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .

Faculty

Roman Basi

The Center for Financial, Legal & Tax Planning, Inc.

Roman Basi graduated from Millikin University in 1997 with a Bachelor’s of Science Degree. In addition, Roman holds a Master’s in Business Administration and Juris Doctor from Southern Illinois University. Roman is a licensed Attorney in the states of Illinois, Missouri and Florida. Roman is a licensed Real Estate Broker in the State of Illinois. Roman is also a licensed Title Insurance Agent with Attorney Title Guaranty in Illinois. He is currently working towards obtaining his CPA license.

Roman has been published in the following trade journals:

   * Illinois State Bar Association - Section on Federal Taxation

   * Productivity

   * Agency Sales

   * Industrial Distribution

   * Supply House Times

   * Distributor Link

   * I.D.A. Management Journal

Roman is a member of the following organizations:

   * Illinois Bar Association

   * Federal Taxation Section Council

   * Florida Bar Association

   * National Association of Realtors

   * Illinois Association of Realtors

   * Egyptian Board of Realtors

   * Marion Chamber of Commerce

   * Marion Main Street



Reviews

LW
Lincoln W.

The presentation was very clear, well articulated, and was organized and substantive.

HL
Hubert L.

Very informative.

JK
John K.

I really enjoy the lectures from the Basi firm. Thorough but not too wordy. Every minute is packed full of information. Wish I had this firm as my mentor.

MR
Misbah R.

Excellent Speaker - Are there transcripts available for the CLE's? That ould eb fanstastic and ould enhance the value offered by Lawline.

DF
David F.

Excellent!

KT
Kristin T.

Excellent content

MB
Merry B.

Great tips

SN
Sara N.

Great presentation - clear and concise.

AW
Allan A. W.

Excellent presentation and highlighted many areas for closely held businesses.

KM
Kathleen M.

very informative

TR
Todd R.

Fantastic introductory course. Covered a lot of good stuff. Very useful for a non-corporate lawyer who is actually starting a business, by the way.

LC
Lawrence C.

Well organized & presented.

AL
Anthony L.

Informative and clearly articulated.

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