DESCRIPTION

This is one of a series of courses designed to prepare students to take the Internal Revenue Service (IRS) Enrolled Agent Exam. This course covers tax issues that relate to businesses which include: business entity types, income, business expenses and other deductions, adjustments to cost basis, depreciation, depletion, amortization, credits and other losses and partnerships and corporations' formation, contributions, disposition, distributions and retirement plans.

Objectives

Upon completion of the course, students will be able to:

1. Apply the process used to determine basic filing requirements for different business entities.
2. Compare and contrast the determination of income between different types of entities.
3. Explain the principles and procedures used to determine business expenses, deductions, credits, distribution, redemptions, liquidations and other losses between various entities.
4. Correctly identify the cost basis for property related adjustments using the Uniform Capitalization Rules.
5. Examine and apply IRS tax code for retirement plans, decedent taxes, estate taxes, trusts and exempt organizations.

FOR MORE INFORMATION

email: akorniakov@santarosa.edu