Accounting-Business Tax
Credits: 2
Course Number: 10-101-152
Course Description
10-101-152 ACCOUNTING-BUSINESS TAX ...learners will be introduced to federal tax laws as they apply to business entities and will prepare business income tax returns. (Prerequisite: 10-101-154, Accounting-Personal Tax)
Course Typically Offered
Most NWTC classes are offered in 8-week sessions. Learn more about how our class schedule can help you succeed.
How can I use this course to achieve my career goals?
This course is associated with the following programs:
What will I learn?
- Describe, in general, the federal income tax issues that apply to recognition of business income.
- Describe, in general, the federal income tax issues that apply to business deductions.
- Determine federal tax basis of assets
- Apply federal income tax rules to compute regular and AMT depreciation
- Determine federal income tax consequences on the disposition of business property.
- Contrast the federal income tax advantages and disadvantages of ownership in various business entities
- Apply appropriate income tax law in the formation, operation and dissolution of a Limited Liability Company
- Apply appropriate income tax law in the formation, operation and dissolution of a Partnership
- Apply appropriate income tax law in the formation, operation and dissolution of a Corporation