Taxation of Corporations - Tax Staff Essentials

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Location: Online
12Credits
Technical Business
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FICPA Members
$220.00 Regular Price
Nonmembers
$275.00 Regular Price
Product Code: AI23-TSE.TCC
Level: Intermediate
Vendor: AICPA CPE Division
Field of Study: Taxes

Overview:

Save when you buy the complete Tax Staff Essentials, Level 2 online bundle.

Understand taxation of corporations

Gain an understanding of the numerous concepts and rules applicable to income tax accounting, tax return positions, and disclosures for C corporations and S corporations in this self-study course.

Gain practical advice on the accounting methods available to a corporation.
This course provides CPE credit in the Taxation field of study.

Objectives:

Learning Outcomes

  • Apply the economic performance rules for tax deductibility.
  • Recognize deduction recognition issues related to amortization.
  • Calculate the corporate net operating loss (NOL) deduction
  • Recognize which items of income and expense are used to make the adjusted current earnings (ACE) adjustment.
  • Identify items of income and deduction that may affect the AMT calculation (for tax years beginning before December 31, 2017).
  • Calculate the small employer health insurance credit and explain its applicability.
  • Identify various business tax credits available to corporations.
  • Recognize the advantages and disadvantages of a parent-subsidiary or brother-sister group of corporations.
  • Identify issues related to intragroup transactions.

Major Topics:

Key Topics

  • Formation of corporations
  • Section 1244 stock
  • Accounting methods
  • Income: dividends, interest, rentals, capital gains
  • Bad debts, rent, taxes, interest, charitable contributions, and casualty losses
  • Prohibited payments, lobbying, travel, and entertainment
  • Net operating losses
  • Schedule M-3: Reporting Tax Differences
  • Minimum tax credit, AMT, ACE, and tax credits
  • Multiple corporations - controlled groups

Designed For:

Who Will Benefit

  • Tax professionals in public accounting: seniors, supervisors, and managers


Prerequisite:

None