Taxation of Corporations - Tax Staff Essentials
The ins and outs, pros and cons, and dos and don’ts of corporate taxation.
Format
Online
NASBA Field of Study
Taxes
Level
Intermediate
CPE Credits
10.5
Author(s)
AICPA and CIMA staff
Availability
1 year
Product Number
TSETCC24SSO
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Weighing the pros and cons of C corporation taxation
Learners gain an understanding of the numerous concepts and rules applicable to C corporations:
- Income tax accounting
- Tax return positions
- Disclosures
When S corporation taxation is right for your client
S corporation taxation is popular among small businesses. Learners explore the following topics:
- S corporation stock
- Election of S corporation status
- S corporation formation
Practical advice on the accounting methods available to a corporation
Case studies provide real-world examples covering:
- Corporation formation
- Charitable contributions
Updated for the latest in corporation taxation
Materials cover developments in corporation taxation, including:
- Corporate alternative minimum tax (AMT)
- Capitalization and amortization of research and experimentation expenditures
Who Will Benefit
Tax professionals in public accounting: seniors, supervisors, and managers
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
- Schedules M-1 and M-3
- Tax credits
Learning Outcomes
- Analyze the tax-saving opportunities and requirements with respect to Section 1244 stock.
- Identify the allowable accounting methods for corporations.
- Determine the corporate net operating loss deduction.
- Recognize various business tax credits available to corporations.
- Identify the features of a parent-subsidiary or brother-sister group of corporations
- Identify issues related to intragroup transactions.
Group ordering for your team
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