| Course ID: | ACCT 7400. 3 hours. |
| Course Title: | Taxation I |
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 most appropriate to taxation issues. |
| Oasis Title: | TAXATION I |
| Duplicate Credit: | Not open to students with credit in ACCT 5400 or ACCT 5400H |
| Nontraditional Format: | Students are expected to complete three paper projects during
the semester. For each project, students will be required to
provide the class with a recent article related to the topic
prior to when the topic is covered in class, write a paper that
explains how the article relates to specific material we cover
in class, and be prepared to answer questions in class on the
topic. |
| Prerequisite: | ACCT 2102 or ACCT 2102H |
Semester Course
Offered: | Offered fall and spring semester every year. |
| Grading System: | A-F (Traditional) |
|
| 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 in the United
States, (2) develop an understanding of the most relevant types
of taxes applicable at the federal level and how each is
calculated, and (3) provide a framework for integrating income
tax planning into accounting and business decisions. |
| Topical Outline: | Overview of the taxation of individuals
Methods to evaluate alternative tax systems
Alternative tax rates and methods of tax calculations
Sources of tax law
Tax planning methods
General tax concepts
Definition of income and alternative forms of taxable and
nontaxable income
Business deductions
Mixed use activities
Losses
Personal & dependency exemptions
Filing status & itemized deductions
Property transactions
Cost recovery |