Content includes information about proper steps to take when incorporating a business, avoiding intermingling of funds between a corporation and a shareholder, recognition of fiduciary responsibilities of a shareholder, required board meetings, and keeping of corporate minutes. Information about incorporating LLCs and electing S corporation status are also included. This course provides continuing professional education (CPE/CE) to enhance a preparer’s competence in advising business tax clients, and satisfies education requirements for one hour of federal tax law.