CPA, EA Exam Prep, US Business Taxation – Formation of Corporation
What you will learn
1. Formation of a Corporation under IRC Section 351
Rules for the transfer of property in exchange for stock.
Understanding tax-deferred transfers.
2. Transfer of Property Subject to Indebtedness
Detailed exploration of Section 357(b) and Section 357(c).
Implications of liabilities exceeding the basis of the transferred property.
3. Services Rendered to a Corporation in Exchange for Stock
Tax treatment of stock received in exchange for services.
Practical examples and case studies.
4. Controlled Groups and Closely Held Corporations
Defining and understanding controlled groups.
Unique considerations for closely held corporations.
Why take this course?
CPA, EA Exam Prep, US Business Taxation – Formation of Corporation
Are you ready to unravel the complexities of U.S. business taxation and take a confident step in forming a corporation? This course is your go-to guide, tailored specifically for professionals with a taxation background, to navigate the essential aspects of corporate formation under U.S. tax law.
What Youβll Learn:
- Master IRC Section 351 to understand property transfers in exchange for corporate stock and achieve tax-deferred treatment.
- Grasp the intricacies of liabilities with Section 357(b) and 357(c), including cases where liabilities exceed the propertyβs basis.
- Explore the tax treatment of stock received in exchange for services, supported by practical examples and case studies.
- Decode controlled groups and closely held corporations, diving into definitions and unique tax considerations.
This course is structured into engaging, digestible video lessons. You’ll start with an overview of the foundational concepts before diving into specific topics like the implications of mortgaged property transfers and the nuances of controlled groups. Each lesson is enriched with clear explanations, practical examples, and real-world applications, ensuring you not only understand the material but can confidently apply it.
Who Is This Course For?
Whether you’re a tax professional, attorney, or business advisor, this course equips you with the insights needed to guide clients or make informed decisions about corporate taxation and formation.
By the end of this course, youβll be equipped to:
- Confidently structure corporate formations under U.S. tax laws.
- Identify and navigate potential pitfalls, such as liabilities exceeding basis or improperly valued services.
- Understand the tax dynamics of controlled groups and closely held corporations.