in 200 words, As corporations seek to increase shareholder profit; minimizing federal income taxes requires planning and forecasting. In this discussion post;

• Identify two areas on Form 1120 where corporations can do tax planning to minimize tax liability. Examples include Dividends Received Deduction, Net Operating Losses, and Charitable Contributions.

• Explain why the two items were chosen and what financial information (i.e. prior year tax returns, possible sales and acquisitions) is useful to help with forecasting.