1.0 CPE CREDIT
The Tax Cuts and Jobs Act (TCJA) eliminated graduated tax rates and AMT for C corporations. All corporations are now taxed at a flat 21% beginning January 1, 2018. On the surface, this change may seem like an incentive to use the C corporation structure for conducting a business. However, there are many factors other than tax rates to consider when evaluating whether a business should be organized as a C corporation.
In this self-study course on C-Corporations at the U. of I. Tax School, you will analyze whether it makes sense for your business clients to maintain their C corporation or to convert to a pass-through entity. Pass-through entities can take advantage of the 20% qualified business income deduction. C corporations cannot. Does it make sense for a new business to form as a C corporation? Should an S corporation revoke its election and convert to a C corporation? What are the consequences of the complete liquidation of a C corporation? How about for an S corporation?
We cover these issues and more in this self-study course.
Last reviewed for accuracy: April 2022
Self-study courses involve completing a pretest, watching a video, answering quiz questions inserted throughout the video, and successfully passing an exam with a score of 70% or better. Each course includes a set of materials that accompany the course presentation. Each course is reviewed annually to ensure the information is up-to-date with current tax law.
This course offers 1.0 CPE credits and qualifies for IRS credit and is NASBA QAS-approved for CPA credit in all states.
This course performs best utilizing a desktop or laptop computer.
Cost: $25.00. To register, add the self-study course to your cart. The course expires 1 year after your purchase. Your exam must be completed within 1 year of your purchase date.
Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course. NOTE: The person purchasing this self-study course must be the same person taking the course and completing the exam.
For questions regarding refunds, registration policies, and resolving concerns, please see our Policies and FAQ.
Jerry Brune has been an instructor for the Tax School and has served as an author and reviewer for the annual University of Illinois Federal Tax Workbook since 1999. Jerry was employed as a revenue agent with the IRS for 31 years before retiring. Jerry has taught accounting and business taxation courses at Illinois Central College and the University of Illinois at Springfield, respectively. Jerry is an EA and CPA, and he currently practices in Bolingbrook. His alma mater is St. Joseph’s College in Rensselaer, Indiana.
Learning Objectives: By taking this self-study course, you will be able to:
CPE Credits (qualifies for IRS): 1.0. Final exam must be passed with a score of 70% or better.
Delivery Method: QAS self-study (online self-study)
Program Level: Overview
Field of Study: Taxes
Prerequisite(s): Professional experience preparing federal tax returns.
Materials: Upon purchase, the transaction receipt that is provided via email will contain instructions to access the course materials.
Advance Preparation: None
Please see the CPE FAQ for more information.