Program outline:   This is the first course of two courses that together provide a very comprehensive knowledge on small business taxes. This course first shows you how the form of business organization and the operation of a small business affect its taxes. It provides detailed descriptions of various forms of business organization and their tax advantages and disadvantages to small businesses. Applicable tax laws and tax forms for each type of business organization are also covered. The course covers how to change from one form of business organization to another. It includes: detailed coverage of accounting periods and accounting methods; tax treatments of income from various business operations, capital gains and capital losses; the limitation of business losses; carrybacks and carryovers of net operating losses; and tax treatment of gains and losses from sales of business property. The second course of this two-course series covers the various deductions and credits available to small businesses.