Fundamentals of Tax- Individuals ((3))

Catalog description

This course is an introduction to US Income Taxation with the focus on taxation of individuals. It starts with the tax laws and related research sources. It then covers the basics of gross income, income exclusions, deductions, tax rates, credits, and collection methods. Specific subjects include basis of assets, depreciation, taxation of sales and exchanges, loss limitations and alternative minimum tax. The students will also learn how to hand-write individual income tax returns.