Taxation of Business Entities II: Pass-Through Entities

The second half of the entity sequence

This course continues from the corporate tax course and covers the US federal taxation of pass-through businesses. These are entities whose income is generally reported by their owners rather than taxed at entity level, including S corporations, partnerships and limited liability companies.

What it examines

The course looks at the S and K subchapters of the Internal Revenue Code and at the regulations and case law around forming, running and ending these businesses. Ethics and professional conduct come up alongside the technical rules.

Points to take away

• Pass-through status shifts where tax is paid, which changes planning decisions for owners.
• Partnership and S corporation rules have different mechanics, so they are worth comparing directly.
• Strategic decision-making is treated as part of the subject, not a separate skill.