Taxation of Corporations - Tax Staff Essentials Essentials

Description

C corporation and S corporation taxation each come with a host of benefits, but they're not right for every client. Learn the ins and outs of corporate taxation through an engaging course that's been updated to cover the most salient issues in corporate taxation, including the corporate alternative minimum tax, new and updated tax credits, and the capitalization and amortization of Section 174 specified research or experimental expenditures.

Highlights

  • 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

Objectives

  • Analyze the tax-saving opportunities and requirements with respect to Section 1244 stock.
  • Evaluate whether a change of accounting method is permitted and how to make such a change.
  • 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.

Designed For

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

Leaders

Greg Carnes

Dr. Gregory Carnes serves as Dean of the College of Business at the University of North Alabama. He came to UNA in 2007 as the Raburn Eminent Scholar of Accounting. He previously served as President of the Accounting Program Leadership Group, President-Elect of the Federation of Schools of Accountancy, and Secretary of the American Taxation Association.

Dr. Carnes has also served as chair of the Department of Accountancy at Northern Illinois University and Dean of the College of Business at Lipscomb University. Dr. Carnes has published approximately 30 articles in journals such as The Journal of Economic Psychology, Journal of the American Taxation Association, Advances in Taxation, The Journal of International Accounting, Auditing, and Taxation, The Tax Adviser, Taxation for Accountants, Taxation for Lawyers, and The CPA Journal.

He is a contributing author on South-Western Federal Taxation: Individual Income Taxes, a popular textbook used in undergraduate taxation courses. He also authors material for Wiley/CPA Excel, one of the nation's leading CPA Review courses. He has also provided tax training for national accounting firms and the AICPA. He is a member of the AICPA, the American Accounting Association, the Alabama Society of CPAs, and the American Taxation Association.