Originally written by Sid Kess and now led by AICPA’s top tax instructors, this course will give you an advantage with our unique perspective on the latest tax changes. Look at the most recent tax laws and other developments affecting C Corporations, S Corporations, and other business entities, including limited liability companies. Learn how to advise clients and employees on the latest tax-planning ideas. Share marketing ideas from top practitioners – based on the latest tax strategies. In addition, practical, real-life exercises will help you apply what you’ve learned from this comprehensive course.
Course ID: CWRK
Corporate Tax Workshop: Get Ready for Busy Season
- Identify the benefits of forming a corporation.
- Apply the rules for transfer of assets and liabilities to a new corporation.
- Recall the accounting methods available to a corporation.
- Recognize reasonable compensation issues with respect to a C Corporation and S Corporation shareholder-employees.
- Analyze the best retirement plan recommend for a corporation.
- Recognize economic performance, including issues and deduction, limitations related to bad debts, rent, tax, and interest expense.
- Determine the availability of tax credits and other entitlements related to retirement plans for a corporation.
- Accurately apply financial turmoil and bankruptcy rules.
- S Corporation qualifications and election
- C Corporation IRC Section 1244 Stock
- Cash and accrual accounting methods
- Revenue recognition methods
- Expensing versus capitalization rules
- Dividends, interest, and other income
- Employee benefit and retirement plans
- Net operating losses
- Passive activities and at-risk limitations
- PPACA: Net Investment Income Tax: Medicare Tax
- Tax return disclosures
- Sale of properties
- Other taxes: AMT, accumulated earnings tax, personal holding
- Tax payments and penalties