Federal Tax Accounting: Entity Taxation

Course Description:

This course extends the taxation of business transactions beyond those of individuals into the realms of corporations, partnerships, and S-Corporations.

Students will Learn:

  • To differentiate between different types of entities recognized under the US income tax system.
  • To extend tax concepts from individual taxation to the taxation of other recognized entities.
  • To calculate the taxable income of a corporation.
  • To determine the tax consequences of corporate distributions to shareholders.
  • To understand the taxation of conduit entities, such as partnership and Subchapter S corporations.

Course Modules:

Module 1 – Corporate Operations and Taxable Income

  • Learning Objective: Analyze the structure and operation of a corporation and compute its taxable income.

Module 2 – Corporate Formation and Earnings

  • Learning Objective: Compute shareholder and corporation basis in shares and assets and calculate the earnings and profits of a corporation.

Module 3 – Corporate Distributions

  • Learning Objective: Determine the taxability of distributions to shareholders and their consequences for shareholder basis..

Module 4 – Taxation of Partnership Income

  • Learning Objective: Analyze the levy of income taxes on the income of a partnership through the taxation of its partners.

Module 5 – Taxation of S-Corporation Income

  • Learning Objective: Extend the understanding of corporate and conduit taxation to the Subchapter S-corporation.

Recommended Background:

  • Students with a background in accounting, finance, personal finance, or bookkeeping desiring to develop an understanding of the taxation of business and property transactions in the United States.
  • Students with prior experience with other tax regimes wishing to expand their knowledge to the U.S. Federal Income Tax System.
  • Employees newly entering the finance and accounting areas.
  • Those preparing for and/or needing Continued Education Units for their certifications.
  • Anyone striving for a better understanding of US income tax for their own business or personal tax reasons.

Other Courses in the Series:

Badge Awarded: 

Course Finder

Refine your search using the tool below.

Filter By: