# Enrolled Agent Exam [Part 2] 79, Advising Clients on Entity Tax Planning

Page: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-79-advising-clients-on-entity-tax-planning
Text version: https://stenobird.com/podcast/finance-exam-prep-7658413/enrolled-agent-exam-part-2-79-advising-clients-on-entity-tax-planning.md
Podcast: [Finance Exam Prep](https://stenobird.com/podcast/finance-exam-prep-7658413)
Published: 2026-07-15T22:41:20+00:00
Episode link: https://open-exam-prep.com/
Audio file: https://episodes.captivate.fm/episode/bcb23cd1-4a80-4ba0-a65a-15089f8ad0a4.mp3
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Duration seconds: 311

## Resource

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - Why an S corporation is often the optimal choice for a single-owner business aiming to reduce self-employment taxes. - The critical differences in tax treatment for buyers and sellers in asset versus stock acquisitions, and why buyers prefer a stepped-up basis. - How the related-party rules under IRC Section 267 disallow immediate loss recognition on property sales between family members. - Key distinctions between retirement plans like SEP IRAs, SIMPLE IRAs, and Solo 401(k)s, and which is best for a self-employed individual. - The tax implications of employee classification and why misclassifying an employee as an independent contractor is a common exam trap. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep

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## Transcript

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