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May 16, 2024
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Preliminary 2024-2025 Yavapai College Catalog
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ACC 115 - Basic Tax Planning
Description: Techniques of federal individual, partnership and corporation income tax preparation. Emphasis on tax return preparation, with review of individual income tax law and applications of that law to tax return forms.
Prerequisites: ACC 121 or ACC 131 (may be taken concurrently). Recommended preparation: ACC 131 and ACC 132 .
Credits: 3
Lecture: 3
Lab: 0
Course Content:
- The individual income tax return
- Gross income and exclusions
- Adjustments to income and employee expenses
- Itemized deductions
- Credits and special taxes
- Self-employment income
- Accounting periods, methods and depreciation
- Capital gains and losses
- Withholding, estimated payments, and payroll taxes
- Partnership taxation
- Corporate taxation
- Tax planning
Learning Outcomes:
- Discuss basic individual income tax law and individual income tax planning issues. (1-9, 12)
- Complete Federal individual income tax returns of moderate complexity. (1-9)
- Compute withholding and complete simple employment tax forms. (9)
- Complete simple federal partnership tax returns and related schedules. (10)
- Complete simple federal corporate tax returns and related schedules. (11)
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