Corporate Taxation 2025 - 2 CPE
TEXAS COMPLIANCE PENDING:
Texas requires a class be reviewed by enough students to assign earned CPE credits. This course is still new enough that we are obtaining the reviews needed. We recommend Texas CPAs check back soon. This process is usually finished within a few weeks.
Mini-Course Description & Study Guide
This course examines and explains the basics of corporate taxation. The focus is on regular or C corporations, their formation, and operation under tax law. The advantages and disadvantages of corporations are examined; incorporation and capitalization issues are discussed; and, basic tax rates and specialty taxes are reviewed. The tax treatment of operational expenses and deductions is outlined, and accounting periods and methods are explored. Finally, the dangers of multiple corporations and corporate distributions are highlighted.
Completion Deadline & Exam: This course, including the examination, must be completed within one year of the date of purchase. In addition, unless otherwise indicated, no correct or incorrect feedback for any exam question will be provided.
Course Level: Overview. This program is appropriate for professionals at all organizational levels.
Field of Study: Taxes
Prerequisite: General understanding of federal income taxation.
Advanced Preparation: None
Learning Assignment & Objectives
As a result of studying the assigned materials, you should be able to meet the objectives listed below.
ASSIGNMENT
At the start of the materials, participants should identify the following topics for study:
* Corporation defined
* PSC corporations
* Incorporation
* Small business stock exclusion
* Start-up & organizational expenses
* Alternative minimum tax
* Capital gains & losses
* Accumulated earnings
* Accounting periods & methods
* Inventories
Learning Objectives
After reading the materials, participants will be able to:
1. Recognize the Code elements defining corporate status, specify their tax treatment including their ability to split income, and determine how to distinguish PSC corporations
2. Identify §351 requirements for tax-free incorporation, recognize the impact of the transfer of money, property, or both by prospective shareholders, and determine the availability of §1244 for stock losses and §195 for amortization of start-up expenditures.
3. Recognize the virual repeal of the corporate alternative minimum and recognize ways to avert the accumulated earnings trap identifying the potential use of the accumulated earnings credit.
4. Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions.
After studying the materials, answer exam questions 1 to 10.
