Kaplan University School of Professional and Continuing Education Kaplan University School of Professional and Continuing Education

C Corporation: Advanced (CCA)

(Updated for the Tax Cuts and Jobs Act) 8-Hour Program (Great industry course)

WHY ATTEND THIS COURSE?

Corporate income tax rates are now to a much lower 21% rate, making a C corporation an entity type that deserves renewed consideration even for closely held entities. Mergers, acquisitions, and reorganizations made simple. Understand the law governing corporate formations, distributions of property, redemptions, liquidations, reorganizations, carryover of net operating losses, and other corporate tax attributes. Understand the real balance of “Earnings and Profits” and why that number might be important. Low tax rates on the first $75,000 of income and the possibility of increased rates of income tax on individuals make the C corporation a reasonable alternative to S corporation status.

DESIGNED FOR...

CPAs who deal with planning and compliance for a regular corporation’s complex tax issues. May also be suitable for public practice.

OBJECTIVE

Participants will be able to:

  • Advise clients on income tax issues when organizing a C corporation
  • Take advantage of C corporation rules and rates to reduce the income tax burden on successful business owners
  • Deal with complicated forms of corporate organization, reorganization, and liquidation
  • Recognize income tax issues related to distributions to shareholders
  • Structure family buyouts that qualify for long-term capital gain treatment
  • Calculate earnings and profits
  • Structure a corporate reorganization to comply with IRC Sec. 368
  • Minimize the tax burden in a corporate liquidation
  • Recognize situations where a corporation’s stock qualifies for §1202 to all for a fully tax free disposition of the shares by shareholders
  • Account for corporate net operating loss and other attribute limitations

MAJOR SUBJECTS

  • Unique C corporation tax rules
  • Corporate organization—Secs. 351 and 357
  • Distributions by corporations—Sec. 301
  • Stock redemptions—Sec. 302
  • Corporate liquidations—Sec. 331
  • Corporate reorganizations—Sec. 368
  • Split ups—Sec. 355
  • Carryovers, NOLs, and other tax attributes—Sec. 382
  • Debt vs. equity—Sec. 385
  • Qualified small business stock—Sec. 1202

COURSE ACRONYM: CCA

PRESENTATION METHOD: Group-live

LEVEL OF KNOWLEDGE: Advanced

PREREQUISITES:

  • None

ADVANCE PREPARATION: None

FIELD OF STUDY Taxes & Corporate Income Taxation

RECOMMENDED CPE CREDIT: 8 hours


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SmartPros®, A Kaplan Company and Loscalzo Institute, A Kaplan Company are registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.