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Program Agenda

 

Week 2 Agenda
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C Corporations
• Deduction, income and credits
• Related party transactions
• Schedule M-1 and M-3
• NOL carryovers and carrybacks
• Distributions
• Earnings and profits

S Corporations
• Qualification and elections
• Distributions and accumulated
   adjustments account
• Built-in gains tax
• Basis calculations
• Allocations and flow-through
• Compensation and benefits
• Employment taxes
• Qualifying trusts
• Losses

Multistate Taxation
• Unitary and combined reporting
• Nexus standards: income vs. sales tax
• Allocation and apportionment
• Sales and use tax implications

Accounting Methods & Periods

• Changes in periods and methods
• Cash method eligibility
• Inventories
• Uniform capitalization rules

Tax Exempt Organizations

• Filing requirements
• Qualifications
• Unrelated business income
• Private foundations
• Excise taxes