This course provides an explanation and interpretation of the Internal Revenue Code as applied to sole proprietorships, partnerships and corporations. Topics include business income, expenses, business tax credits, withholding and payment of established estate and trust tax issues.
- Describe corporate organization.
- Describe corporate operating rules.
- Understand corporate income and deductions.
- Compute corporate tax liability.
- Understand partnership basis.
- Illustrate tax research.
- Understand exempt entities.
- Determine estate income tax liability.
- Prepare Form 1120 and related schedules.
- Prepare Form 1120S and related schedules.
- Prepare Form 1065 and related schedules.