Description
Upon completion of this seminar, students will become familiar with the general characteristics of C corporations and the selection of an accounting period for the company’s tax year. They will also recognize the significance of the uniform capitalization (UNICAP) rules and inventory valuation methods to the income amount that is reported. Common sources of corporate income and major elements of expense deductions will be summarized. When discussing C corporations it is also necessary to discuss the elements of contributed capital and to summarize required tax reconciliations. Next, how to reconcile the ending cash balance using the indirect method is explained. At the end of the seminar a full corporation tax return is provided as an example for guidance. New lecture video reinforces concepts! Topic: General Characteristics of C Corporation and C Corp Tax Rate IRS #EEZ75-T-00502-24-S CTEC #1071-CE-3230 NASBA #103388