Income Tax Accounting

Catalog description

Prerequisite: Grade of C or better in ACC 200 ^ This course is of value to anyone interested in learning about income taxes, whether for personal use or as a start toward a new vocational goal. Emphasis is on federal individual income taxes. Also, some attention is given to small businesses and corporations. Topics covered include filing status, taxable income, employee business expenses, itemized deductions, profit from business or profession, capital gains and losses, tax credits, corporations, and state of Illinois income tax. (1.2) Proficiency Credit Available (2T) Pass/No Credit Not Available