- NY Credits : 5.0
- TX Credits : 5.0
- IRS Enrolled Agent Credits : Federal Tax/Tax Related Matters - 5.0
C Corporations - Overview of Corporate Income Tax
Benefit from a full review of the basics of gross income inclusions and exclusions as well as special areas of income and deductions applicable to C corporations in determining taxable income. Topics covered in this course include selection of an accounting method for income and expense recognition; treatment of corporate capital gains and losses; deductions for charitable contributions of cash, ordinary income, and capital gain property; excessive compensation resulting from excess parachute payments; publicly traded C corporation limitation on excess compensation deduction; and the domestic production activities deduction, bad debt expense, and other corporate related expenses.
NOTE: This course has been updated to address relevant provisions of current tax laws, including the Tax Cuts and Jobs Act of 2017, signed by the President on December 22, 2017, as they relate to C corporations.
Upon successful completion of this course, the user should be able to:
summarize determining taxable income for C corporations,
elect accounting method and tax year,
calculate capital gains and losses,
name deductions for special expenses, and
assess charitable contribution deductions.