DESCRIPTION
This module covers C corporation tax issues such as double taxation, constructive dividends, and tax provision calculation. There are several exercises throughout the module that will break up the lecture.
LEARNING OBJECTIVES
- Identify the basics of corporate taxation, including the effects of the Tax Cuts and Jobs Act, CARES Act, and CAA Act
- Describe double taxation and the relationship of the company to its owners
- Identify items that could be deemed a constructive dividend and discuss reasonable compensation for C corporations
- Calculate a tax provision and estimated taxes
- Identify the characteristics of a Personal Service Corporation (PSC)
- Identify tax law changes from the Inflation Reduction Act (IRA Act)
