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Secure Transaction CPE Credits
2 Credits: Taxes
Course Level
Overview
Format
Self-Study
Course Description
This online self-study CPE course offers a deep dive into the fundamentals of corporate taxation, specifically focusing on C corporations. Participants will benefit from a detailed examination of the structure and operational framework of C corporations, including their formation and tax treatment. The course outlines the advantages and disadvantages of incorporating, providing a balanced perspective essential for informed decision-making. Additionally, it covers critical tax considerations such as basic tax rates, specialty taxes, and the treatment of operational expenses and deductions. Participants will also explore accounting periods and methods, gaining the ability to select the most advantageous options for their corporations. The online self-study CPE course highlights potential risks associated with multiple corporations and corporate distributions, ensuring participants are well-prepared to handle these complex taxation issues.
Learning Objectives
Upon successful completion of this course, participants will be able to:
- Recognize regular corporation elements, specify their advantages and disadvantages specifying tax treatment, and determine how to distinguish them from PSC corporations.
- 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.
- Recognize the repeal of the corporate alternative minimum, specify the corporate tax consequences of capital gains and losses, and recognize ways to avert the accumulated earnings trap identifying the potential use of the accumulated earnings credit.
- Determine accounting periods and methods available to corporations and specify the tax consequences of liquidating property distributions.
Course Specifics
8202723
April 8, 2024
General understanding of federal income taxation.
None
65
Compliance Information
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02560-24-S
IRS Federal Tax Law Credits: 2
CTEC Course Number: 2071-CE-1527
CTEC Federal Tax Law Credits: 2
CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board. CFP Professionals must take each course in it’s entirety, the CFP Board DOES NOT accept partial credits for courses.
CTEC Notice: California Tax Education Council DOES NOT allow partial credit, course must be taken in entirety. Western CPE has been approved by the California Tax Education Council to offer continuing education courses that count as credit towards the annual “continuing education” requirement imposed by the State of California for CTEC Registered Tax Preparers. A listing of additional requirements to register as a tax preparer may be obtained by contacting CTEC at P.O. Box 2890, Sacramento, CA, 95812-2890, by phone toll-free at (877) 850-2832, or on the Internet at www.ctec.org.
Meet The Experts
Danny Santucci, BA, JD, is a prolific author of tax and financial books and articles. His legal career started with the business and litigation firm of Edwards, Edwards, and Ashton. Later he joined the Century City entertainment firm of Bushkin, Gaims, Gaines, and Jonas working for many well-known celebrities. In 1980, Danny established the law firm of Santucci, Potter, and Leanders in Irvine, California. With increasing lecture and writing commitments, Danny went into sole practice in 1995. His practice emphasizes business taxation, real estate law, and estate planning. Speaking to more than 100 groups nationally each year, he is known …
QAS Self-Study
