Tax Accounting

Catalog description

Basic tax course designed to provide an understanding of the various federal taxes, including income, gift, estate, excise, federal insurance contribution, self-employment, and unemployment taxes. Typically offered Fall Spring. Prerequisite(s): MGMT 35000 FOR LEVEL UG WITH MIN. GRADE OF B Course Learning Outcomes 1. Calculate the income tax liability for individuals, understand basic tax planning strategies, and prepare individual tax returns. 2. Understand broadly how different business entities are taxed including formation, operations, distributions, and liquidations. 3. Calculate the income tax liability for C Corporations, understand basic tax planning strategies, and prepare basic C Corporation tax returns. 4. Report the results from operations for partnerships and S Corporations. 5. Understand broadly the tax treatment of property transactions encountered by individuals and business entities. View Class Schedule