Corporations: Computations of Taxable Income, Tax Liability and Allowable Credits
Corporations are required to calculate their taxable income by adjusting their financial accounting income with specific tax provisions, which involves adding back non-deductible expenses, and subtracting any income that is exempt from tax. The tax liability is then determined by applying the appropriate corporate tax rates to this taxable income. Additionally, corporations may reduce their tax liability by taking advantage of various tax credits for which they are eligible, such as those for research and development or investments in certain assets.
Lesson Videos
Corporations: Computations of Taxable Income, Tax Liability and Allowable Credits Overview
Introduction to Corporations: Computations of Taxable Income, Tax Liability, and Allowable Credits
Corporate Taxable Income
Rental Lease Income
Income Generated from an Illegal Activity
Related Party Accrual to Cash Exception
Charitable Contributions and Dividends-Received Deduction
Business Gifts
Corporate Capital Losses
Business Interest
Credits Applicable to Corporate Taxation
Accumulated Earnings Tax
Personal Holding Company Tax
Uniform Capitalization Rules
Example of Corporate Taxable Income
Corporations: Computations of Taxable Income, Tax Liability and Allowable Credits Summary
Corporations: Computations of Taxable Income, Tax Liability and Allowable Credits - Practice Questions
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