Federal Taxation I

Catalog description

This course provides a study of federal income tax laws as they apply to individuals. Topics include income, including inclusions and exclusions; capital gains and losses; deductions and losses; itemized deductions; bad debts; employee expenses and deferred compensation; and preparation of returns for individuals, including sole proprietors. The course emphasizes decision making and tax planning. Prerequisite: ACC 102 with C or better or permission of department chair. Three lecture hours per week. Instructional Support Fee applies.