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.

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.

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.

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.