Fundamentals of Taxation

Catalog description

A study of the fundamentals of federal income taxation with respect to individuals and other entities. The objective of the course is to develop a broad-based knowledge in the area. The course emphasizes the analysis of the individual income tax formula, the calculation of entity taxable income, and the preparation of tax returns. Topics include individual gross income, exclusions, deductions, and credits, C corporation taxable income, and S corporation and partnership ordinary income and separately stated items.