This course provides an introductory study of the current federal revenue acts as they relate primarily to individual income tax theory and practice. Topical coverage includes the individual income tax return, gross income inclusions and exclusions, business expenses and retirement plans, self-employed and employee expenses, itemized and other deductions, credits and special taxes, accounting periods, accounting methods, depreciation, capital gains and losses, and payroll taxes. In addition to individual income tax theory and practice, an overview of partnership and taxation, corporate taxation, and tax administration and planning is provided.

Prerequisite: ACC 101

3 Semester hour(s)

3 lec/week