Publisher
WiseGuides, Inc.
2796 Greenspire Ln
Akron, Oh 44333
Corporation Income
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Copyright © 2010 | Field of Study: Taxes Level: Basic Recommended CPE Credit 2 hours Prerequisites: None Advanced Preparation: None Type of Delivery: Self-Study Expiration: Course expires 1 year after purchase Course Update: January 2010 Accreditation: QAS, NASBA, IRS, CTEC, OTPB Guarantee/Complaint Resolution |
Course Outline
Lesson 1 - Methods of Accounting
Learning Objectives 1
Accounting Methods
Cash Method of Accounting
Cannot Use Cash Method
Accrual Method of Accounting
Combination (Hybrid) Method
Lesson 2 - Inventory
Learning Objectives 2
Inventory
What Is Included in Inventory
Valuing Inventory
Uniform Capitalization Rules
Lesson 3 - Corporation Income
Learning Objectives 3
Advanced Sales and Services
Interest
Unstated Interest
Bonds
Original Issue Discount
Dividends
Dividends in Property
Limit on Deduction for Dividends
Rent
Capital Loss
Other Income
Lesson 4 - Limitations On Income
Learning Objectives 4
Passive Activity Limits
At-Risk Limitations
Net Operating Loss
Course Objectives
Lesson - 1After completing Lesson 1, you will be able to:
- Identify the rules with regard to the corporation's accounting method
Pay particular attention to paragraphs marked by the Wiseguy.
He'll guide you to key issues.
After completing Lesson 2, you will be able to:
- Figure cost of goods sold
- Identify when the uniform capitalization rules apply
After completing Lesson 3, you will be able to:
- Identify when a corporation can take a deduction for dividends received
- Figure a corporation's dividends-received deduction
- Apply the rules with regard to advance payments for services performed by the end of the next year
- Identify income recognized by a corporation
- Identify how to treat unstated interest
After completing Lesson 4, you will be able to:
- Identify who is affected by the passive activity limits