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.
Prerequisites
No advanced preparation or prerequisites are required for this course.
Learning Objective
- 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
Last updated/reviewed: July 23, 2025
(35) Reviews
(28 rating)This instructor gave an easy to follow overview of FBAR Issues. We must take into account that 2024 may have some differences such as maximum penalty. But this was a clear and concise presentation of the nuances regarding FBAR and Form 8938 Filings.
Great examples. I had no idea how cunning some folks could be on devising ways to scam the goverment, either as an employee, officer or contractor.
I would have liked a video with an explanation with examples. Also, I don't see an explanation of how an applicant is defined. Otherwise a helpful course.
this could have been good except the very distracting background music at the beginning of the process
Very good lessons! it is very useful. I highly recommend this lessons.
Of the many, many courses I have taken on the Illumeo platform, this was definitely one of the best and most insightful. I have always found elements of "behavioral finance" to be fascinating and powerful in planning, strategy, and business performance. Mr. Stephens has bundled the leading theories and presented them as a unified new "dimension" for planners and leaders to factor in. He has done so in a manner that CFO's and other business leaders will undoubtedly find easy to digest, replete with useful examples. The consideration of these concepts will undoubtedly add value via improvement decision-making and more enlightened risk assessments. Thank you for such a quality contribution to the Illumeo portfolio!!
Great information about useful tools. Didn't know there were so many plugins available
Very helpful, I had forgotten a few of the features.
I really enjoy the instructor and the way she presents information, this was all just a little broader than what I was expecting
I thought this was a thorough and helpful course as a manager who deals with many different types of personalities on a daily basis.
Excellent summary of Black Scholes. This course presented a thorough overview of this model.
Excellent course for helping refresh what most of us learned in Intermediate Accounting. Content is good and well delivered. My only complaint is the sound quality isn't great in a couple of the modules and should be redone.
questions at end didn't well match topics covered in the course.
Great course on Corporate tax filings for schedule M-3 Part III.
This is a very comprehensive course for tax planning strategies for short-term rental properties.
I was interested in a course that included discussions of the NOL of a subsidiary. I liked the NOL discussions. I disliked the "limited" discussions of the Section 382 limitations. I beginner in consolidations would get the most...like me.
A lot of information that goes far past the Madoff case.
Very useful for anyone who is considering implementing a workflow system.
Solid overview of the terms and definitions surrounding a financial statement audit.
Great Course I think we need more documentation.
This course was efficient and covered the main objectives of ethics review course required to renew CPA license in California every 2 years. I would take this course again when I need to renew again.
Great material, effectively presented and well organized.
The course was easy to read and understand which lead to passing the final exam.
Good insight in personalities and leadership. Excellent explanations of human behavior
Really enjoy how Marc & Paul present together - engaging!
This course provides a nice introduction to transfer pricing including a basic outline of transfer pricing policy and covering the importance of developing and maintaining a transfer pricing policy.
I liked how short this course was, but Cherie covered the important points. I also liked how it was broken up into separate videos.
A useful and technical course topic which was presented in a clear and concise manner.
Good Information
very informative and easy to follow
I like the examples and explanations,great lectures!
good
Material is easy to understand.
The course is so easy to understand.
Excellent course
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