acc455 | undergraduate

Corporate Taxation

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This course is a basic introduction to federal corporate taxation. The purpose is to familiarize the student with fundamental tax issues and provide the student with a general understanding of the history, laws, and policies of federal taxation.

This undergraduate-level course is 5 weeks This course is available to take individually or To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Continuing education units: XX
Professional development units: XX
Duration: 5 weeks

topic title goes here

    Corporate Distributions

    • Distinguish between current and accumulated earnings and profits.
    • Calculate earnings and profits.
    • Determine the tax consequences of nonliquidating property distributions and stock dividends.
    • Determine the tax consequence of the redemption of stock.

    Tax Law Basics, Business Structures, and Formation of a Corporation

    • Compare advantages and disadvantages of alternate forms of business.
    • Explain the process of applying check-the-box regulations in determining the business entity election.
    • Determine the tax consequences of forming a corporation.
    • Describe the sources of tax law and the role of the IRS and courts in interpreting and shaping tax law.

    Corporate Tax Elections and Operations

    • Analyze the basic tax elections available to the corporation.
    • Apply deductions unique to corporations to compute corporate taxable income.
    • Identify tax preference items and adjustments in the context of the alternative minimum tax.

    Basics of Flow-Through Entities (S Corporations and Partnerships)

    • Compare the tax law requirements for the formations of an S corporation and partnership.
    • Determine which items are separately stated and items included in ordinary income of an S corporation and partnership.
    • Calculate the owners’ distributive share and owners’ basis.

    Distributions and Termination of Interests in S Corporations and Partnerships

    • Distinguish between liquidating and nonliquidating distributions.
    • Explain the process of terminating an S election and the tax consequences of the termination.
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    Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.