C corporation taxation comes with a host of benefits, but it's not right for every client. Participants will 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 many pertinent provisions of H.R. 1, commonly referred to as OBBBA; tax credits; and more.
Learning Objectives
When you complete this course, you will be able to:
- Analyze the tax-saving opportunities and requirements with respect to Section 1244 stock.
- Determine whether a change of accounting method is permitted and how to make such a change.
- Apply the rules for stock dividends.
- Determine the deductibility of casualty losses.
- Identify the limitations and substantiation requirements regarding deductions for meals, travel, and entertainment.
- Identify the filing requirements for Schedule UTP, *Uncertain Tax Position Statement*.
- Identify various business tax credits available to corporations.
- Identify issues related to intragroup transactions.
Major Topics
- H.R. 1, commonly referred to as OBBBA
- 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
- Depreciation and amortization
- Net operating losses
- Schedules M-1 and M-3
- Tax credits
