Jul 23, 2024  
2021-22 Catalog 
2021-22 Catalog [ARCHIVED CATALOG]

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ACCT 285 - Federal Income Taxes I

5 CR

Introduces the concepts and procedures for preparing personal federal income tax returns.

Prerequisite(s): ACCT 102  or ACCT 202  with a C or better, or entry code.

Course Outcomes

  • 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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