C Corporations for Dummies
Manage Taxation and Dividends for C Corporations

Duration: 120 Minutes
Different taxation rules apply to C and S corporations. The tax liability of a C corporation is separate from its owners, and thus a C corp is subject to double tax: The corporation's profit is taxed when earned and taxed again when distributed to shareholders as dividends. According to the IRS, the corporation does not get a tax deduction when it distributes dividends to shareholders and shareholders cannot deduct any loss of the corporation. This is primarily how a C corp differs from an S corporation; an S corp can avoid c by passing corporate income, losses, deductions and credits to shareholders who then report the flow-through on their personal tax returns, under IRS tax rules.
C Corporations Preparation
Instructor: Vicki L Mulak
Product ID: 506791
Objectives of the Presentation
  • Understand how a C corporation is formed and capitalized
  • Gain confidence in calculation and reporting of a C corporation dividend
  • Understand issues affecting personal service corporations (PSCs)
  • Recognize transactions eligible for the qualified small business stock exclusion
  • Increase awareness of advantages and disadvantages of the C corporation
  • How to effectively secure and/or retain fiscal years for various types of C corporations
  • Managing passive activity losses in the C corporation
Why Should you Attend
This session with taxation expert Vicki Mulak EA, CFP®, will explore the various phases of a C corporation's life - from how it comes into existence to how it is maintained as a state law entity. Vicki will focus on return preparation issues including managing start-up costs, capitalization, shareholder compensation, net income for book and tax, net operating losses and dividends. You will get examples of common scenarios with calculations and completed tax forms.

Areas Covered
  • Personal service corporations (PSCs)
  • Fiscal years
  • Paying dividends
  • Accumulated Earnings Tax (AET)
  • Extension of time to pay taxes for current year due to NOL carry backs
  • C corporation as a "real estate professional"
  • Corporate conversions to other business entity types
Who will Benefit
  • Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other tax professionals involved with S corporation tax returns and the tax returns of the S corporation's shareholders
Topic Background
Examination of issues affecting preparation of C corporation tax returns.
$300
Recorded Session for one participant
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How it works
Live Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • The webinar joining link, username and password for joining the webinar will be updated on your OCP Account 24 hours prior to the webinar
  • Presentation handouts in Downloadable PDF format will be updated on your OCP Account 24 hours prior to the live session
  • Login to the audio conference on the scheduled date and time
  • Get answers to your queries through interactive Q&A sessions via chat at the end of the session
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account 24 hours after the completion of the session
  • Please let us know your thoughts and views at the end of the webinar, your valuable feedback will help us improve
Recorded Session - How it works
  • Login to onlinecompliancepanel with your registered username and password https://www.onlinecompliancepanel.com/login
  • Upon purchase of the recorded session a link will be updated on your OCP Account within 24 hours
  • Please click on the link to access the Recorded Session
  • Presentation handouts in downloadable PDF format will be updated on your OCP Account within 24 hours of the purchase of the product
  • Download the Certificate of Attendance and Purchase Invoice from your OCP Account after 48 hours of the product Purchase
  • Please share your valuable Feedback at the end of the session
Instructor Profile:
Vicki is an Enrolled Agent and Certified Financial Planner (CFP) and owner of American Financial and Tax, a tax preparation, planning and representation firm, which was founded in Tustin, California in 1985, when Vicki became both a resident and a business owner.

Vicki is a well-known presenter on federal and California tax law with audiences at continuing education events hosted by various practitioner organizations. She is also an author of numerous articles that have appeared in various practitioner journals.

In addition to her private practice, Vicki has served on two of the three California state tax agency advisory boards: The California Franchise Tax Board Advisory Board since 2010 - 2017 and the Employment Development Department's Small Business Employer's Advisory Committee since 1997. She has been honored with numerous awards for distinguished service in legislative advocacy and educational goals from the Enrolled Agent Associations, NAEA and CSEA.

She resides with her husband, George, in Tustin.
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