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2014 Corporate Tax Workshop Videocourse

Author/Moderator: Sidney Kess, CPA, J.D., LL.M. (Video Outline, optional reading) and Brian Greenstein, Ph.D. (Manual)
Publisher: AICPA
Availability: In Stock
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This video-based course, featuring Sidney Kess and an expert panel, reviews major developments affecting corporate return preparation for 2014 and useful tax-planning strategies.

Topics Discussed:

  • S Corporation qualifications and election
  • C Corporation IRC Section 1244 Stock
  • Cash and accrual accounting methods
  • Revenue recognition methods
  • Expensing versus capitalization rules
  • Depreciation
  • Inventories
  • 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

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 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.

Highlights for 2014 Edition Include:

  • The Affordable Care Act: Impact on 2014-2015 returns
  • Capitalization and Repairs Compliance Rules
  • What’s happening at the IRS in the business activity area?
  • Late S Corporation elections
  • Conversion of S Corporations to LLC’s
  • S Corporation update including salary vs. S Corporation distributions
  • 2014 hottest tax planning tips for business
  • Small-employer health insurance credit
  • Overview of LLC taxation
  • Deferral techniques including like-kind exchanges; installment sales; involuntary conversions
  • Fringe benefits review
  • Corporate AMT planning
  • Usefulness of 1244 stock vs. 1202 stock
  • IRS hot audit issues
  • Development affecting retirement plans
  • Recent developments regarding reasonable compensation
  • Impact of DOMA on retirement plans and retirement planning
  • Depreciation developments including Section 179 and bonus depreciation
  • Recently enacted tax laws as well as the latest IRS rulings and court decisions affecting corporate taxpayers
  • Retirement plan options for the closely-held business
  • Protecting retirement benefits from creditors in the event of insolvency or bankruptcy

Who Will Benefit?

  • Tax return preparers and business/industry
  • Accountants working on or preparing corporate tax issues or returns

Prerequisite: Knowledge of corporate income taxation and Form 1120 preparation

Advanced Preparation: None

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Tax Section Members Save – 20%
When you log into this website with your AICPA member user account, the section discount will be automatically applied during checkout. Should you have any questions or encounter any issues, please contact the AICPA Service Center at 888-777-7077 or service@aicpa.org.

aFind out more information on the Tax Section Member Section

*discounts apply to DVD/Manual format only

In this 213 minute video: Sidney Kess, CPA, J.D., LL.M, interviews Vernon Hoven, CPA, EA, MST, CSP; Sharon Kreider, CPA, EA; Joseph W. Walloch, CPA, CGMA, MBA, MBT; Julie A. Welch, CPA, PFS, CFP; Andrew Fair Esq. JD; Katherine Fitzpatrick, CPA, MST; William Harden, Ph.D., CPA, ChFC; Sidney Traum, JD; and Christopher Williams

NASBA Field of Study: Taxes
Level: Update
Recommended CPE Credit: 36

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