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Oct 10, 2024
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2020-2021 Catalog [PREVIOUS CATALOG YEAR]
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ACC 117 - Advanced Tax Planning and Preparation Description: Advanced study in individual, corporate, and partnership taxation.
Prerequisites: ACC 115
Credits: 3 Lecture: 3 Lab: 0
Course Content:
- Individual Taxes: Review of basic tax planning concepts; Active, investment, and passive types of income; Tax deferred and tax-free transactions; Capital and 4797 transactions; Carryover and transition items;Tax planning considerations
- Corporate Taxes: Structure of the corporate tax system; Tax planning considerations
- S corporation Taxes; Built in gains tax; Accumulated adjustments account (AAA) calculation; Tax planning considerations
- Partnership Taxes: Structure of the partnership tax system; Tax planning considerations
Learning Outcomes:
- Solve individual income tax problems of moderate to advanced complexity. (1)
- Describe moderate to advanced individual income tax planning issues. (1)
- Solve problems of basic to moderate complexity involving C corporations, S corporations, and partnerships. (2-4)
- Explain basic to moderate C corporation, S corporation, and partnership tax planning issues. (2-4)
- Prepare individual, corporate, and partnership tax returns using a personal computer. (1-4)
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