CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Tax Consequences of Forming a Company

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Taxes

Course Description

This course will review the tax implications of incorporating a new corporation. Instructor Lynne Glennon will explain the tax policy and basic requirements of Section 351 in formation of a new business and transfers of property to previously existing corporations.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Section 1

  • Cite the requirements in order to qualify for a tax-free transaction under §351.
  • Determine the amount of any gain or loss which must be recognized on a transfer to a corporation with and without boot.

Section 2

  • Identify the steps in the process of calculating the basis in stock received under IRC §358(a) and determine its holding period for both the shareholder and the corporation.
  • Identify the appropriate application of depreciation for the corporation on assets received in §351 transactions.
  • Cite the rules with respect to the assumption of liabilities as part of the §351 transaction.

Course Specifics

Course ID
8162577VID
Revision Date
December 28, 2017
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01256-18-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1203
CTEC Federal Tax Law Credits: 2

Course Instructor

Lynne Glennon Headshot
Lynne Glennon

Lynne is a full-time faculty member for DePaul University’s Master of Science in Taxation program and teaches Transactions in Property, Taxation of Corporations and Shareholders, Partnership Taxation and Accounting for Income Taxes in the traditional classroom setting, as well as online for a national CPA firm. In addition to teaching, Lynne has written a chapter on Accounting for Income Taxes for Wiley’s Accounting Practitioners’ publication, is the faculty advisor for the annual Deloitte FanTaxtic student tax case competition, has participated on panel discussions for the Chicago Tax Club and Tax Executive Institute and has consulted for a Fortune 500 company. …

Lynne Glennon Read More »

Tax Consequences of Forming a Company

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

$98.00

Icon_Self-Study
Self-Study
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Taxes

Course Description

This course will review the tax implications of incorporating a new corporation. Instructor Lynne Glennon will explain the tax policy and basic requirements of Section 351 in formation of a new business and transfers of property to previously existing corporations.

Learning Objectives

Upon successful completion of this course, participants will be able to:

Section 1

  • Cite the requirements in order to qualify for a tax-free transaction under §351.
  • Determine the amount of any gain or loss which must be recognized on a transfer to a corporation with and without boot.

Section 2

  • Identify the steps in the process of calculating the basis in stock received under IRC §358(a) and determine its holding period for both the shareholder and the corporation.
  • Identify the appropriate application of depreciation for the corporation on assets received in §351 transactions.
  • Cite the rules with respect to the assumption of liabilities as part of the §351 transaction.

Course Specifics

Course ID
8162577VID
Revision Date
December 28, 2017
Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-01256-18-S
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1203
CTEC Federal Tax Law Credits: 2

Course Instructor

Lynne Glennon Headshot
Lynne Glennon

Lynne is a full-time faculty member for DePaul University’s Master of Science in Taxation program and teaches Transactions in Property, Taxation of Corporations and Shareholders, Partnership Taxation and Accounting for Income Taxes in the traditional classroom setting, as well as online for a national CPA firm. In addition to teaching, Lynne has written a chapter on Accounting for Income Taxes for Wiley’s Accounting Practitioners’ publication, is the faculty advisor for the annual Deloitte FanTaxtic student tax case competition, has participated on panel discussions for the Chicago Tax Club and Tax Executive Institute and has consulted for a Fortune 500 company. …

Lynne Glennon Read More »

Tax Consequences of Forming a Company

Expert Instructors
Format
CPE CREDITS
2 Credits: Taxes

$98.00