Mastering LLC Management: Navigating Legal, Tax, and Operational Challenges
The "LLC Survival Guide: Pitfalls and How to Side-Step Them" course is an essential training designed for legal professionals, business owners, and entrepreneurs involved with Limited Liability Companies (LLCs). This comprehensive course covers the intricacies of LLC taxation, providing insights into common attorney mistakes and offering strategic advice on choosing the correct tax classification for your LLC, whether it be as a partnership, S Corporation, or C Corporation. Participants will learn about the critical tax implications of transferring appreciated property, the complexities of employment and self-employment tax issues, and best practices for changing tax statuses and managing conversions or reorganizations to avoid costly mistakes.
Additionally, the course delves into the legal and operational challenges associated with LLC operating agreements. Through real-life examples, participants will explore common pitfalls such as vague capital call procedures, ambiguous management removal clauses, and unclear voting and transfer restrictions. The curriculum also addresses the vital components of distribution and allocation clauses, amendment procedures, and tax and reporting obligations. By the end of the course, attendees will have a robust understanding of how to draft clear, compliant, and effective operating agreements, ensuring their LLCs are well-structured to handle growth, member changes, and potential disputes.
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1 activity • 2 videos • duration: 3h 10m
Attorney | Kahana Feld
Joshua C Offenhartz is an attorney with Kahana Feld. He is a business attorney who represents clients in the finance, medical, construction, real estate and culinary industries. Mr. Offenhartz has significant experience managing all phases of litigation, including preliminary investigations, discovery, depositions, settlement negotiations, mediation, motions for summary judgment, trial and appeals. Additionally, he serves as outside counsel for several small, medium and growing businesses that need day-to-day legal advice for their growing companies. Mr. Offenhartz is a member of Madison School District's Financial Advisory Board and a board member of the Desert States Region of Jewish National Fund. He supports the Phoenix Art Museum as a member of the Men's Art Council, and helps others by volunteering with Big Brothers and Big Sisters of Arizona, Saint Mary's Food Bank and the Wounded Warrior Project. Mr. Offenhartz earned his B.S. degree in public administration from the University of Arizona, and his master's and J.D. degrees from Arizona State University. He is licensed to practice law in Arizona; Southern District Court, District of Arizona; and Southern Court of Appeals, Ninth Circuit.
Professional development requirements vary by profession, country, and regulatory body. Before enrolling, review the course details and confirm that the content, learning format, and any listed credits meet your specific requirements. You are responsible for confirming eligibility with your regulator or professional association and keeping the records required for reporting.
