Taxes  |  Format: Flash

Corporate Taxation (Updated)

Course Overview:
This course examines and explains the basics of corporate taxation. The focus is on regular or C corporations, their formation, and operation under tax law. The advantages and disadvantage of corporations are examined; incorporation and capitalization issues are discussed; and, basic tax rates and specialty taxes are reviewed. The tax treatment of operational expenses and deductions are outlined, and accounting periods and methods are explored. Finally, the dangers of multiple corporations and corporate distributions are highlighted.

Learning Objectives:
Upon completion of this course, you should be able to:
1. Recognize regular corporation elements, specify their advantages and disadvantages specifying tax treatment, and determine how to distinguish them from Personal Service Corporations (PSCs).
2. Identify Sec. 351 requirements for tax-free incorporation, recognize the impact of the transfer of money, property or both by prospective shareholders, and determine the availability of Sec. 1244 for stock losses and Sec. 195 for amortization of start-up expenditures.
3. Recognize the repeal of the corporate alternative minimum tax, specify the corporate tax consequences of capital gains and losses, and recognize ways to avert the accumulated earnings trap identifying the potential use of the accumulated earnings credit.
4. Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions.

Catalog Number: 99SANT01-v2
CPE Credits: 2 Registry / 2 QAS
Author: Danny Santucci
Advanced Preparation:
General understanding of federal income taxation.
Course Level: Overview
Field of Study: Taxes
Content Partner: SmartPros Ltd.
QAS: QAS Certified based on 50 minute hours.
Course Type: Self-Study
Minimum Passing Grade: 70%
Soft/Hardware Reqs.:  Adobe Acrobat® Reader for the .pdf files
 Adobe® Flash® Player 9 or higher
 56k or Greater Internet Connection
 Modern DHTML Compatible Browser
 Ram: 256 MB minimum
 Windows or Mac OS
Release/Expiration Dates: Nov 30, 2018 / Nov 30, 2020