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Advanced Topics in Taxation
ADVANCED TAX
CLASS CODE: ACCTG 322 CREDITS:  3
DIVISION: BUSINESS & COMMUNICATION
DEPARTMENT: ACCOUNTING
GENERAL EDUCATION: This course does not fulfill a General Education requirement.

DESCRIPTION: A study of advanced topics in taxation as they apply to business entities and individuals. This course builds on the foundations established in previous accounting and taxation courses. It emphasizes research, planning, and the use of current technology.
TAUGHT: Fall, Winter
CONTENT AND TOPICS:

  • Determination of Tax of Individuals

  • Property Transactions: Capital and Business Assets

  • Nontaxable Exchanges

  • Credits and Special Taxes

  • Corporate Formation

  • Corporate Income Tax

  • Corporate Distributions

  • Partnership Formation and Operation

  • S Corporations

  • The Gift and Estate Taxes

  • Income Taxation of Trusts and Estates

GOALS AND OBJECTIVES:

  1. Build on the foundation established in Accounting 321.

  2. Provide an opportunity to acquire an understanding of more advanced tax topics.

  3. Use a detailed approach that exposes the student to tax authority and language.

  4. Cover individual, corporate, partnership and fiduciary topics.

  5. Learn to communicate using common income tax vocabulary and terminology.

  6. Obtain practical experience with tax research and tax compliance by analyzing cases and completing hypothetical income tax returns.

REQUIREMENTS: The course requires daily homework assignments, occasional group presentations, preparation of hypothetical income tax returns, and completion of chapter quizzes and periodic exams.
PREREQUISITES: ACCTG 321
OTHER:
EFFECTIVE DATE: August 2002