ACCT 285 - Federal Income Taxes I

• Describe and apply the types of taxes imposed at the federal, state, and local levels.
• Apply the federal tax rules for personal and dependency exemptions.
• Analyze and discuss the concepts of gross income.
• Discuss and apply tax planning opportunities for maximizing deductions.
• Identify, analyze and explain deductions from income related to employee and self-employed expenses.
• Analyze property transactions to determine gains or losses, basis for consideration, and nontaxable exchanges.
• Use technology and information resources to research issues in individual federal taxation.
• Create a federal tax return for individuals using Schedules C and D.
• Discuss the use and application of ethics in federal tax reporting.

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