Course ID: | ACCT 5400H. 3 hours. |
Course Title: | Taxation I (Honors) |
Course Description: | A basic federal income tax course covering concepts of taxation applicable to all taxable entities but primarily relating to individuals. Introduces research approaches to tax problems as well as methods of analysis more appropriate to taxation issues. |
Oasis Title: | Taxation I Honors |
Duplicate Credit: | Not open to students with credit in ACCT 5400, ACCT 7400 |
Nontraditional Format: | Additional Requirements for Honors Credit: Students are
expected to complete three paper projects during the semester.
For each project, students will be required to 1) provide the
class with a recent article related to the topic prior to when
the topic is covered in class; 2) write a paper that explains
how the article relates to specific material we cover in class;
and 3) be prepared to answer questions in class on the topic.
Topics will be assigned to students during class from the
following list: tax compliance; individual tax planning; income
realization and recognition; alternative minimum tax; business
deductions; property transactions; investments; passive
activities; retirement savings; and employment income. |
Prerequisite: | (ACCT 2102 or ACCT 2102H or ACCT 2102E) and permission of Honors |
Semester Course Offered: | Offered fall semester every year. |
Grading System: | A-F (Traditional) |
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Course Objectives: | This course provides an introduction to the concepts of taxation. The course is
designed to provide a framework for understanding the structure of our federal
income tax system while introducing some of the specifics of this system. The
specific goals of this class are: (1) develop a basic understanding of the federal
income tax laws and (2) provide a framework for integrating income tax planning into
accounting and business decisions. |
Topical Outline: | 1. Overview of the taxation of individuals
2. Methods to evaluate alternative tax systems
3. Alternative Tax Rates and methods of tax calculations
4. Sources of Tax Law
5. Tax Planning Methods
6. General Tax Concepts
7. Definition of Income and alternative forms of taxable and nontaxable income
8. Business Deductions
9. Mixed use activities
10. Losses
11. Personal & Dependency Exemptions
12. Filing Status & Itemized Deductions
13. Property Transactions
14. Cost Recovery |