Reasons for Taxation
Understand the reasons for and problems arising from taxation of the income of entities, as well as the different approaches to taxing entity income, and be able to discuss the weaknesses and strengths of the different approaches.
Understand policy arguments for and against IRS authority to recharacterize the movement of property between business entities and their owners.
Understand the basics of pass-through taxation in Subchapter S and Subchapter K, including how entity operations, contributions, and distributions affect the taxation of a business and its owners.
Understand the basics of corporate taxation in Subchapter C, including how entity operations, contributions, and distributions affect the taxation of the business and its owners.
Tax Code Interpretation
Have a better understanding of how to read and interpret the Tax Code and administrative guidance interpreting the Code.
Critical Thinking Skills
Have improved their critical thinking skills.
Enjoy a broader understanding of the overall income tax regime in the United States.