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"Degrees & Programs"

ACC/455

Corporate Taxation

Online

Format

$1194

Estimated Tuition

credits

Total credits

weeks

Course length

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Course level: Undergraduate

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.

Prerequisites

ACC/290 or ACC/290T - Principles of Accounting I or equivalent

What you'll learn

Course skills and outcomes

IRS Tax Compliance and Individual Taxation

  • Identify the filing requirements for income tax returns.
  • Outline the IRS audit process.
  • Describe tax professional responsibilities in providing tax advice.
  • Use the formula for calculating an individual taxpayer’s taxes payable.
  • Determine a taxpayer’s personal and dependency exemptions.

Corporate Operations and Accounting for Income Taxes

  • Use the corporate income tax formula to calculate the tax liabilities.
  • Calculate the current and deferred income taxes.
  • Describe the process of valuation allowance.
  • Explain how a company accounts for its uncertain income tax positions under FASB ASC Topic 740.
  • Determine how a company computes and discloses the components of its “effective tax rate".

Corporate Taxation and Formation

  • Compute a corporation’s earnings and profits and a shareholder’s dividend income.
  • Use the framework that applies to the taxation of property distributions.
  • Compute the tax consequences to the parties to a tax-deferred corporate formation.
  • Identify the different forms of taxable and tax-deferred acquisitions.
  • Calculate the tax consequences that apply to the parties to a complete liquidation of a corporation.

Partnerships: Forming and Dispositions

  • Distinguish the entity approach from the aggregate approach for taxing partnerships.
  • Resolve tax issues applicable to partnerships.
  • Apply the basis, at-risk, and passive activity loss limits to losses from partnerships.
  • Determine the tax consequences to the buyer and seller of the disposition of a partnership.
  • Calculate the special basis adjustment for dispositions and distributions.

S Corporations and the U.S. Taxation of Multinational Transactions

  • Describe operating issues relating to S corporation accounting periods and methods.
  • Use fringe benefit rules that apply to S corporation shareholders.
  • Apply the tax rules for S corporation operating distributions and liquidating distributions.
  • Apply the U.S. source rules for common items of gross income and deductions.
  • Distinguish between the different forms of doing business outside the United States.
  • Describe the basic U.S. anti-deferral tax regime and identify common sources of subpart F income.

Why UOPX

Why take courses at University of Phoenix

Accreditation that matters

We’ve been accredited by the Higher Learning Commission (hlcommission.org) for more than 40 years.

Real-world instructors

Learn from instructors who bring an average of 25 years of working experience to the classroom.

Affordable and potentially reimbursable

Our tuition and fees are competitive and fixed. Also, check to see if your employer will cover you for this course.

Next Steps

Start a conversation about your future with an enrollment representative today.

Start a conversation about your future with an enrollment representative today.

Call (844) 937-8679

Transfer Credits

Credit Transfer

Credit Transfer

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