This comprehensive course, developed by Sid Kess, 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.
Learning Objectives
Identify the benefits of forming a corporationApply the rules for transfer of assets and liabilities to a newcorporationReview the accounting methods available to a corporation
Understand reasonable compensation issues with respect to a CCorporation and to S Corporation shareholder-employeesAnalyze the best retirement plan recommend for a corporationRecognize economic performance, including issues and deductionlimitations related to bad debts, rent, tax, and interest expenseDetermine the availability of tax credits and other entitlements relatedto retirement plans for a corporationAccurately apply financial turmoil and bankruptcy rules
Major Topics
Formation of corporation and Section 1244 stock Income: dividends, interest, rentals, capital gains Salaries, employee benefits and retirement plan Economic performance and other deductions Net operating losses Personal Service Corporations Tax rates, AMT, and tax credits Case studies for tax return preparation
