Corporate Income Tax Return Fundamentals

Course Details

Date

Monday, December 16, 2019

4:30am – 12:00am
(Registration: 4:00am)

Field of Study

Taxation

Course Number

4191143D

CPE Credit

8.0 hours CPE credit

Level of Knowledge

Beginning

Vendor

CalCPA Education Foundation

Prerequisites

None.

Description

Preparing corporate income taxes requires a shift in mindset from individual tax preparation and compliance. Learn about the concepts and tools necessary to support clients or businesses.

This course will review topics that cover capitalization, depreciation, carrybacks and major book to tax issues involving corporations and Form 1120 preparation. Attendees will learn about practical spreadsheet approaches that allow practitioners to efficiently and effectively manage book vs. tax differences (M-1 or M-3 items). Cover the impact of new tax law changes with some ideas to discuss with clients. Additionally, dive into a complex corporate return case study, including discussion of identifying book to tax differences as well as self-review tips.

Materials are provided as an ebook.

Highlights

  • Corporate structure entity choice comparisons
  • Form 1120 and Schedule M-1 or M-3
  • Items for book-tax differences
  • Tax accounting methods
  • Uniform capitalization rules, overview
  • Minor discussion on depreciation: capitalization, gain, loss and recapture
  • Carrybacks, carryforwards and credit
  • AMT and ACE adjustments
  • Case Study and presentation in return

Objectives

  • Understand new tax law and possible opportunities with clients.
  • Identify substantive tax issues involving regular corporations.
  • Recognize and identify book to tax differences.
  • Recognize gains and losses, Form 4797 and Secs. 1231, 1239, 1245, 1250 and 291.
  • Determine a workpaper format and approach to efficiently prepare corporate Form 1120.
  • Identify major corporate tax forms, including Form 1120 and related schedules.
  • Outline necessary steps to complete a complex sample corporate Form 1120, including workpapers and schedules.
  • Review case studay and how presented in return.

Designed For

CPAs, tax preparers and attorneys.

Course Pricing

Member Fee

Applicable if you are a HSCPA member in good standing.

$245.00
Non-Member Fee

Applicable if you are not a HSCPA member.

$375.00
Your Price $375.00

CPE Choice

Learn more about CPE Choice.
This course does not qualify for CPE Choice.

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