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 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 to 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
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
Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
4
Who Should Attend
Tax professionals in public accounting: seniors, supervisors, and managers
