M5A2 Discussion

Assignment 2: Course Reflection

Reflect on the learning throughout this course, and write a three- to four-paragraph response to the following:

* Describe and explain what you believe are the top three most important corporate taxation concepts you learned in this course.

* Make sure you explain why these concepts are most important to you.

* Explain how your learning in business and accounting from this course could be helpful to you throughout your career.

By the due date assigned ,submit your responses to the appropriate Discussion Area. Use the same Discussion Area to comment on your classmates’ submissions and continue the discussion until through the end of the module. Comment on how your classmates would address differing views.

Discussion Grading Table

Maximum Points

Quality of initial posting, including fulfillment of assignment instructions 16

Quality of responses to classmates 12

Frequency of responses to classmates 4

Reference to supporting readings and other materials 4

Language and grammar 4

Total: 40

M5_A2

Nikki Thoeung posted Mar 10, 2018 8:18 PM

· Describe and explain what you believe are the top three most important corporate taxation concepts you learned in this course.

In this course the three most important of corporation taxation concept that I have learned is understanding transfer pricing, type of corporate form such as LLC, S-Corp, C-Corp, Partnership, and individual sole. Also constructive dividends.

 

· Make sure you explain why these concepts are most important to you.

These concepts are important to me because before I didn’t understand much until I took this courses.  I have learned a lot from my classmate by reading their post and from my instructor feedback.  Now I have a clear concept about corporate taxation. 

 

· Explain how your learning in business and accounting from this course could be helpful to you throughout your career.

What I have learned from this course it will help me throughout my career by understand more about business and corporation taxation.  Even if my career field doesn’t involve much with corporate taxation but at least I know what our Tax Team is doing and I have a better understand to why they are doing it.

M5 A 2 Discussion Roberson Yvette

Yvette Roberson posted Mar 11, 2018 1:37 PM

Roberson Yvette                                                                                                                                                      March 11, 2018

 

M5 A2 Discussion

Course Reflection 

Describe and explain what you believe are the top three most important corporate taxation concepts you learned in this course.

I am currently in the process of stage one of the opening of my “Chayil Tee-Shirts” company.  I will say, that, this course has definitely equipped with extra needed knowledge.  I am clearly aware with the understanding that a business must honor the truthfulness of paying a variety of taxes based on the company’s physical location, nature of the business and ownership structure.  Business taxes can/will have an enormous impact on the profitability of a business and the magnitude of a business investment. Taxation is an extremely vital, dynamic that is significant in the financial investment decision-making process since a lower tax burden allots the company to lessen prices or generate higher revenue, which can then be paid out in salaries, wages, or dividends. With that being said, I believe these listed corporate taxations will be much needed within the “Chayil Tee-Shirt” company:

Three most important corporate taxation

 Federal Income Tax or Elected Wage Assessment, is a Tax expense required by the national government on a yearly pay, and State or potentially Salary Duty. A duty exacted by a state or neighborhood government on yearly wage. Not all states have executed state level tax charges.

Sales Tax: An expense forced by the legislature / government with the purpose of offering retail products and ventures. It is gathered by the retailer and passed on to the state. Sales tax charges depend on the level of the offering costs of the merchandise, ventures and is set by the state. In fact, buyers pay sales tax charges, yet viably, the business pays them for the expense builds purchaser’s expense/cost and makes them purchase less.

Payroll Tax/Finance Duty is a Tax expense a business withholds as well as paid in the interest of their workers in light of the wage or pay of the representative. In many nations, including the United States, both state and government specialists gather some type of finance assess. In the United States, Medicare and Government disability, additionally called FICA, make up the finance impose.

Explain how your learning in business and accounting from this course could be helpful to you throughout your career

The business and accounting information from this course has afforded me with “tools” that I will use to open my intellectual insight to the introduction of the U.S. federal income taxation of corporations and their shareholders. The course gave much insight focused on the relevant provisions of the Internal Revenue Code of Subchapter C, as well as related judicial opinions and Treasury Regulations, governing corporate formation, operations, liquidation, and distributions. Facilitate self-discovery of technical tax knowledge along with the development of a variety of professional skills and attitudes.  This course provided compulsory information comparing the tax formula for C corporations with the tax formula for individuals and LLC. Divulging the special tax deductions available only to corporations, such as the dividends received deduction, and the organizational expenditures deduction.  Giving discernment on how to calculate corporate income tax liability and compute the corporate Alternative Minimum Tax (AMT) very Informative.

 

Reference

INVESTOPEDIA, (N.D.). Types of Taxes. Retrieved March 2018. From

https://www.investopedia.com/walkthrough/corporate-finance/2/taxes/types-taxes.aspx