more
Cherie Hennig, Professor
This former IRS revenue agent is now an author and Professor, teaching tax courses at the University of North Carolina, Wilmington, Florida International, Colorado State, the University of South Florida, and Virginia Tech
This instructor has 23 courses »To Access This Course:
This course covers the Why, When, and How of computing Earnings and Profits (E&P).
- Why? Distributions to shareholders are taxable to the extent of corporate E&P.
- When? Ideally, a corporation should compute its E&P annually.
- Presumption that distributions are taxable dividends can only be refuted through a computation of E&P.
- How? There is no set formula for computing E&P.
- Worksheet for computing current E&P included in the instructions to form 5452.
Learning Objectives
- Explore why it is important to compute Earnings and Profits (E&P).
- Discover how distributions from a corporation to its shareholders are taxed.
- Recognize the difference between taxable income and current E&P, and explore a case study that compares taxable income and Book Income with E&P.
- Discover how to compute current E&P
- Recognize the importance of differentiating between Current and Accumulated Earnings and Profits.
Last updated/reviewed: May 26, 2022
4 Reviews (35 ratings)Reviews
Soad O'Connor
(Sr. Director at Revlon)
The title of the course was related E&P after 2017. However, the materials were just based on the old E&P way of calculations. it was very elementary. I was definitely expecting a higher level of details discussing 163j, GILITI and other changes made byTCJA
Debra Johnson
( at Hagan & Johnson, CPA's ..)
Great subject; well discussed.
Would have liked to see more time devoted to the more challenging strategies.
Inna Shmukler
(Controller at Fornetix LLC)
Quite informative. Some information is the repeat from the course regarding Taxable Income and Expenses.
Anonymous
(Income Tax Senior)
this was a great course on computing corporate earnings and profit (after 2017).
Prerequisites
Course Complexity: Advanced
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .