“Entrepreneurs & Entities: How to Make the Right Selection for the Right Reasons”

CEPC members recently met at the Canopy SouthPark to learn from Elizabeth Morgan, owner of Elizabeth Morgan & Associates, a boutique law firm based in Austin and focused on international tax, estate, business, and asset protection planning.

Elizabeth kicked off the presentation discussing the importance of entity selection and encouraged attendees to step back and think about what type of structure is needed, not only for today, but for the future as well. She discussed how flow through entities allow aggregation of income and expense on the business owner’s income tax return and how getting clients to understand the differences in these flow through options (general partnerships, limited partnerships, S-corporations, and limited liability companies that elect to be taxed as partnerships) is important.