C Corporations Update: Lobster Traps, Pots and a Whole New Sea of Opportunity (Currently Unavailable)

Author: Bradley Burnett

C Corporations carry unique blessings and curses of all their own. But, what of all this new fuss about how S Corps and other entities should switch to C Corps? C Corp income tax rates are newly lower for some and higher for others. But, there’s a whole lot more to the story. This course kisses and tells about the C Corp rest of the story.

Publication Date: December 2020

Designed For
Return preparers, tax planners and taxpayers desiring to keep up with law changes affecting C Corps.

Topics Covered

• C Corporation New Tax Developments Highlight Reel
• CARES Act: Alternatives to PPP Loans
• Employee Retention Credit
• Delay in Deposit of Employment Taxes
• Black Market for Corporate Shells with NOLs
• Loss Limitation - Hurdles
• TCJA - §163(j) Business Interest Expense Limit
• Small Business Exemption
• Attribution Rules: Getting Snagged
• TCJA: Net Operating Losses
• Tax Cuts Jobs Act (TCJA): Corporate Income Tax Rates
• Accumulated Earnings Tax
• Should You Switch to a C Corp?
• C Corps are Like Lobster Traps
• C Corp Planning is Like Long Jump
• Should You Switch from C to S Corp?

Learning Objectives

• Identify and apply new developments affecting C Corps
• Recognize the mystery of "C Corp or not" under TCJA
• Describe how to break out of double tax lobster trap if you can
• Identify the 2021 Section 179 expense election
• Identify tax rates as a result of the TCJA
• Recognize which of the following entities is not allowed a QBI deduction
• Identify the current AMT rate for C Corps

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
A basic understanding of C Corporations. and federal income taxation concepts.

Advance Preparation
None