2022 C Corporations Update
Author: Bradley Burnett
| CPE Credit: |
2 hours for CPAs
2 hours Federal Tax Law Updates for EAs and OTRPs
2 hours Federal Tax Updates for CTEC |
C Corporations carry unique blessings and curses all their own. Tax law affecting C Corps continues to change. Join Bradley Burnett, J.D., LL.M., as he gets you up-to-date with what you need to know to plan now and face the coming year.
Publication Date: December 2022
Designed For
Return preparers, tax planners, and taxpayers desiring to keep up with law changes affecting C Corps.
Topics Covered
- 2022 Federal Tax Update for C Corps
- Tax Cuts Jobs Act (TCJA) Corporate Income Tax Rates
- Proposed Legislation H.R. 5376 Did Not Pass into Law
- 2021 IRS Data Book
- 2022 IRS Form 1120
- Inflation Adjusted Amounts for 2022, 2023 Notice 2022-55
- IRS Standard Mileage Rates
- Inflation Adjusted Amounts 2022 and 2023 Fringe Benefit and Qualified Plans
- Health Savings Account (HSA) Contribution Limits
- Delay in Deposit of Employment Taxes
- New Corporate Minimum Tax
- 1% Excise Tax on Repurchases of Corporate Stock
- C Corp Reasonable Comp of Employee Owner
- Management Fees Don't Fly Unless Structured Correctly
- C Corp Owner Compensation
- Action Item Adjustments to Income Tax Return
- TCJA (Tax Cuts Jobs Act) Expiration Dates
- Research and Development Expenses Capitalize / Amortize Beginning in 2022
- §163(j) Business Interest Expense Limit
- Net Operating Losses Reporting and Proof
- Effect of Runaway Inflation on Taxes
Learning Objectives
- Identify and apply new developments affecting C Corps
Level
Update
Instructional Method
Self-Study
NASBA Field of Study
Taxes (2 hours)
Program Prerequisites
Basic understanding of C Corporations.
Advance Preparation
None
