| Course ID: | ACCT 5400. 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 5400H, ACCT 7400 |
| Prerequisite: | ACCT 2102 or ACCT 2102H or ACCT 2102E |
Semester Course
Offered: | Offered 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 introducting 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 |