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Taxation of Corporations - Tax Staff Essentials, Level 2 - Experienced Staff

Author/Moderator: John McWilliams, JD, CPA & Charles Borek, CPA, JD, MBA
Publisher: AICPA
Availability: Online Access
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Description

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AICPA's Tax Staff Essentials, Level 2 – Experienced Staff

This comprehensive, integrated curriculum provides tax training for four different experience levels – New Staff (Level 1), Experienced Staff (Level 2); Tax Senior/Supervisor (Level 3); and Tax Manager/ Director (Level 4).

This course is part of Tax Staff Essentials, Level 2 – Experienced Staff. Designed for junior tax staff who want to take on a wider variety of firm engagements and establish a supervisory role within the firm. The Tax Staff Essentials courses establish a strong set of skills necessary to grow the abilities and confidence of junior and senior level staff, allowing them to work with greater independence and expand their role in your firm

This comprehensive course is designed to guide practitioners through the numerous concepts and rules applicable to income tax accounting, tax return positions, and disclosures for C corporations and S corporations.

Topics Discussed:

  • Formation of corporation and Section 1244 stock
  • Income: dividends, interest, rentals, capital gains
  • Salaries, employee benefits and retirement plans
  • Economic performance and other deductions
  • Net operating losses
  • Personal Service Corporations
  • Tax rates, AMT, and tax credits
  • Case studies for tax return preparation

Learning Objectives
When you complete this course you will be able to:

  • Identify the benefits of forming a corporation.
  • Apply the rules for transfer of assets and liabilities to a new corporation.
  • Review the accounting methods available to a corporation.
  • Understand reasonable compensation issues with respect to a Closely Held Business
  • Analyze the best retirement plan recommendation 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.
  • Understand the requirements for reporting Schedule M-3 (book/tax reconciliation for large corporations) and Schedule UTP (Uncertain Tax Positions)
  • Plan for tax efficient use of Corporation Net Operating Losses

Prerequisite: Two to four years of tax experience

Advanced Preparation: None.

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NASBA Field of Study: Taxes
Level: Intermediate
Recommended CPE Credit: 12.5
Taxation of Corporations Tax Staff Essentials, Level 2 Experienced Staff
CPE On-Demand , 2014
Product# 157680
Availability: Online Access 1 Year
For registered users only
Regular:$379.00
AICPA Member:$309.00
Your Price:$379.00
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