This online self-study CPE course offers a deep dive into the fundamentals of corporate taxation, specifically focusing on C corporations. Participants will benefit from a detailed examination of the structure and operational framework of C corporations, including their formation and tax treatment. The course outlines the advantages and disadvantages of incorporating, providing a balanced perspective essential for informed decision-making. Additionally, it covers critical tax considerations such as basic tax rates, specialty taxes, and the treatment of operational expenses and deductions. Participants will also explore accounting periods and methods, gaining the ability to select the most advantageous options for their corporations. The online self-study CPE course highlights potential risks associated with multiple corporations and corporate distributions, ensuring participants are well-prepared to handle these complex taxation issues.
Learning Objectives
Upon successful completion of this course, participants will be able to:
Recognize regular corporation elements, specify their advantages and disadvantages specifying tax treatment, and determine how to distinguish them from PSC corporations.
Identify Section 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 Section 1244 for stock losses and Section 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.
Major Topics
Corporations Definition
Capital Gains and Losses
Charitable Contributions
