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.
DESIGNED FOR
Tax professionals in public accounting: seniors, supervisors, and managers
BENEFITS
- Identify the benefits of forming a corporation.
- Apply the rules for transfer of assets and liabilities to a new corporation.
- Recognize the accounting methods available to a corporation.
- Determine 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.
HIGHLIGHTS
- 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
- Case studies for tax return preparation
PREREQUISITES
3-5 years of tax experience
ADVANCE PREPARATION
None