Corporate Taxation - Mini CourseCode: 25-CORP2

56 pages

Course description and objectives:

After reading the materials, participants will be able to:

1. Recognize the key elements of regular corporations, explain their advantages and disadvantages, including tax treatment and tax advantages and disadvantages, and how to distinguish them from PSC corporations.

2. Direct clients on §351 requirements for tax free incorporation, explain the impact of the transfer of money, property or both by prospective shareholders pointing out the availability of §1244 for stock losses and §195 amortization of start-up expenditures.

3. Compute corporate alternative minimum tax recognizing the small corporation exemption, explain the corporate tax consequences of capital gains and losses, and describe several ways to avert the accumulated earnings trap noting the potential use of the accumulated earnings credit.

4. List accounting periods and methods available to corporations describing the tax consequences of liquidating property distributions.

Presentation Method: Self-Study

Category:  Taxation

CPE credit: 2 Hours

Program Level: Update

Prerequisites: None

Advance Preparation: None

Exam expiration date: Participants must submit exams for grading within one year from the date of purchase