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Course No: 9271223

Corporate Taxation

$25

  • Credits: 2.0
  • Program level: Overview
  • Prerequisites: General understanding of federal income taxation.

Field of Study: Tax Law Topic

Course Description

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 disadvantages 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

  • Recognize regular corporation elements, specify their advantages and disadvantages specifying tax treatment, and determine how to distinguish them from PSC corporations.
  • Identify §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 §1244 for stock losses and §195 for amortization of start-up expenditures.
  • Recognize the repeal of the corporate alternative minimum, 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.
  • Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions.

Advance preparation: none

Course Material: Online Material

Type of delivery method: QAS Self-study

Final examination expiration date:

The program participant will have one year from the date of purchase to complete the course and final examination.

We are Register with

Web CPE is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.

Web CPE is registered with the IRS to provide Continuing Education (CE) programs to the Enrolled Agents and other tax return practitioners.

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