This course provides students with an introduction to U.S. corporate taxation, as well as:
- Provides an overview of tax laws/concepts and compliance issues related to tax reporting for corporate taxpayers
- Defines and helps students to understand income-related topics such as gross receipts; interest and dividend income; and income from rents, royalties and ownership of partnership interests
- Defines and helps students to understand deduction-related issues such as cost of goods sold, compensation, bad debts, taxes, charitable contributions, amortization, and depreciation expense
Special topics include alternative minimum tax; calculation and reporting of gains and losses; net operating losses; tax credits; the tax calculation; and estimated tax payments, penalties, and extensions.
After successful completion of this course, students will be able to define business entities, items of gross income under U.S. tax law, items of gross deduction under U.S. tax law, and estimated tax payments and extension tax payments. After reviewing tax accounting methods and special provisions applicable to corporations and calculation and reporting of gains and losses, and net operating losses and credits, students will be equipped to perform a comprehensive case study.
Applies Towards the Following Certificates
- Strategic Business : Core Courses