ACNT 1370 - Taxation Procedures for Individuals

Credit Hours: 3
Contact Hours - Lecture: 3
Federal income tax concepts relating to individuals and sole proprietorships. Topics include understanding the appreciation of basic tax concepts and their application of tax law in areas of compensation planning, investment planning, tax shelters and current developments relating to the individual taxpayer. This course is for students who possess a Bachelor’s degree and is part of the Certificate in Professional Accountancy.
Prerequisite: Enrollment in Professional Accountancy ATC (C4_ACC4), departmental approval required.
Student Learning Outcomes
1 - Identify the objectives and structure of the Federal individual income tax system. 2 - Understand the basic principles of individual income taxation. 3 - Understand the basic principles of business taxation as it applies to sole proprietorships. 4 - Determine the tax consequences of property transactions. 5 - Research and explain relevant tax concepts. 6 - Understand the ethics and responsibilities of tax practice. 7 - Demonstrate an understanding of the Internal Revenue Service Code. 8 - Identify tax issues necessary to prepare individual income tax returns in a manual and computerized environment.