Instructor for this course
more

This course covers the advantages and disadvantages of filing a consolidated tax return, including:

  • Which entities are eligible to file a consolidated return
  • Making a valid election to file a consolidated return
  • Computing consolidated taxable income and consolidated tax expense
  • Accounting for intercompany transactions
  • Utilizing net operating losses of members of the consolidated group

This course also covers how to compute the Parent Corporation’s basis in the investment of a subsidiary and the applicability of the Excess Loss Account.

Learning Objectives

  • Recognize the differences between the financial accounting and tax accounting consolidation rules including which entities are eligible to be members of the consolidated tax return
  • Explore how to make an election to file a consolidated tax return
  • Explore how to handle intercompany transactions
  • Explore how to compute consolidated taxable income
  • Explore how to apportion the consolidated tax expense among members of the group
  • Discover the limitations on deducting net operating losses of members of the group
  • Discover the importance of computing the parent’s basis in the stock of a subsidiary

9 Reviews (30 ratings)Reviews

4
Member's Profile
Very good discussions on the consolidated tax return. You need more study time.
4
Member's Profile
Comprehensive treatment of the subject. Illustrations were helpful.
5
Member's Profile
Great explanation of Consolidated Returns & technical issues.
5
Anonymous Author
I like the examples and explanations,great lectures!
4
Member's Profile
very informative and easy to follow
4
Member's Profile
Material is easy to understand.
4
Anonymous Author
Excellent course and instructor.
5
Member's Profile
really good.
5
Anonymous Author
Interesting

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 .
Course Syllabus
INTRODUCTION and OVERVIEW
  1:42Introduction to Consolidated Tax Returns: Advantages and Disadvantages
Advantages and Disadvantages
  9:44Overview: Advantages and Disadvantages
  8:13Overview: Advantages and Disadvantages (Continued)
  7:40Entities Eligible to File a Consolidated Return
  4:26Making a Valid Election to File a Consolidated Tax Return
  8:42Accounting for Inter-company Transactions
  8:26Computing Consolidated Taxable Income
  9:38Examples
  14:20Limitation on the Net Operating Loss Deduction
CONCLUSION
  7:02Computing the Parent Corporation's Basis in the Investment of a Subsidiary and Conclusion
Continuous Play
  1:19:54Consolidated Tax Returns: Advantages and Disadvantages
SUPPORTING MATERIALS
  PDFSlides: Consolidated Tax Returns: Advantages and Disadvantages
  PDFConsolidated Tax Returns: Advantages and Disadvantages Glossary/Index
REVIEW and TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM