This course covers the computation of corporate taxable expense, including corporate tax compliance issues and the computation of the corporate tax expense.

We also look at items that may reduce the effective tax rate including Domestic Production Activities Deduction and various business tax credits.

Learning Objectives

• Explore the compliance issues relating to the filing of a corporate tax return, including the requirement to reconcile financial and taxable income on Schedule M-1

• Explore how to compute corporate estimated tax payments

• Recognize the importance of the Effective Tax Rate versus the Statutory Tax Rate and what strategies can be employed to reduce the effective tax rate below the statutory tax rate

• Recognize the importance of the Domestic Production Activities Deduction

• Recognize the importance of the various Business Tax Credits