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Coursera

Corporate Tax Fundamentals

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Overview

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This course introduces the core terminology, reconciliation concepts, and current-law awareness needed for routine corporate tax work. Learners build a practical foundation in book versus tax income, permanent versus timing differences, deferred tax concepts, effective tax rate language, common federal forms and schedules, and the tax code sections most frequently referenced in corporate compliance. The course is designed for beginners who need to understand the vocabulary and logic that support return preparation and review, including how these concepts appear in ONESOURCE and related workpapers used by tax analysts.

Syllabus

  • Corporate Tax Vocabulary That Drives the Work
    • Build the vocabulary that supports daily corporate tax work. This module introduces core terms such as book income, taxable income, Schedule M-1, carryforwards, estimated tax payments, and apportionment, with a focus on where these terms appear in workpapers, returns, and ONESOURCE.
  • Permanent Differences, Timing Differences, and Deferred Taxes
    • Learn how to classify book-tax differences and understand why the distinction matters. This module explains permanent versus timing differences, shows how timing differences can create deferred tax assets and deferred tax liabilities, and applies the logic to common examples such as meals, accrued expenses, and depreciation.
  • Reconciliations, Rates, Forms, and Common Analyst Confusions
    • Clarify several of the corporate tax concepts that analysts most often confuse. This module covers the purpose of Schedule M-1, M-2, and M-3, explains effective tax rate terminology, compares book depreciation with MACRS, and distinguishes Form 1120 from Form 1120-S.
  • Recent Law Changes and How to Verify Them
    • Focus on recent law changes and how to verify them responsibly. This module reviews key topics affecting return inputs from 2024 to 2026, including bonus depreciation, Section 174 capitalization, Section 163(j), corporate AMT, and FinCEN-related reporting, while reinforcing a workflow that prioritizes primary authority over summaries and AI-generated explanations.
  • Common Errors and Practical Wrap-Up
    • Bring the core concepts together by focusing on common analyst errors and practical review habits. This module helps learners spot flawed reasoning, correct inaccurate explanations, and use a concise checklist for terminology, reconciliation logic, deferred taxes, rates, depreciation, and current-law verification.

Taught by

Samuel Oduro

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