Back to Top TX 710 Problems of Corporations and Shareholders Deals with the Internal Revenue Code provisions applicable to unreasonable accumulations of earnings and profits, personal holding companies, liquidations, collapsible corporations, small businesses, S Corporation elections, and various code provisions that apply to multicorporate transactions. Back to Top TX 712 Problems of Partnerships and Partners Deals with Subchapter K of the Internal Revenue Code and the complex aspects of partnership formation, operation, reorganization and liquidation. Topics include the sale of a partnership interest by a partner, current distributions, distributions in liquidation of a partner's interest, retirement of partners, death of partners, the addition of new partners, and the limited partnership as a tax shelter. Back to Top TX 722 Estate Planning Techniques Deals with the use of living and testamentary trusts, joint ownership, life insurance, charitable dispositions, intervivos gifts, and the marital deduction. Problem areas include the valuation and disposition of closely held businesses, as well as marriage, separation, divorce and other family arrangements.
Students participate in class discussions and analyze hypothetical cases distributed in class.
Back to Top TX 741 Tax Accounting Problems Deals with the major differences between financial and tax accounting. Other matters, including interest expense and the alternative minimum tax, are also examined. Back to Top TX 742 Affiliated Corporatons Deals with procedural and substantive rules governing consolidated federal income tax returns for an affiliated group of corporations. Students develop a comprehensive working knowledge of consolidated return regulations under Section 1502 of the code. Topics include accounting for intercompany transactions, investment adjusted rules, and special concepts in the computation of consolidated tax liability.