more corporate tax

Is costs of selling shares of stock included in organizational costs?

No. It is a reduction in the capital stock account.

How is purchased goodwill treated in the GAAP and tax?

GAAP: test for impairment, not amortized;

Tax: 15 yr, straight-line basis

Is life insurance paid for employees deductible?

If the beneficiary is the company, not deductible.

If the beneficiary is the employee, yes

What is the difference of capital loss between corporation tax and individual tax?

for corporation, capital loss is not deducible. It can only used to offset capital gains. Net capital loss can carryback 3-year and carryforward 5-year and are carried over as short-term capital loss. the tax rate is 15%, the same as ordinary loss.

(individual: capital loss can be deducted up to $3,000, cannot carryback but carryforward indefinitely, has two lower tax rate)