ACCT 237 - Federal Income Taxation I

A critical examination, analysis, and application of the tax law for individuals. Interrelated subjects include income inclusions and exclusions, property transactions, nontaxable exchanges, capital asset transactions, general deductions and losses, business expenses, depreciation and amortization, and passive activities. Attention is given to tax procedures, accounting and inventory methods, retirement planning, exemptions, credits, filing status, and the alternative minimum tax. Students also engage in both electronic research and return preparation practica. PREREQUISITE(S): ACCT 222 or consent of department. Four hours each week.

4 semester hours

Course Outcomes:
Upon completion of this course, a student will be able to:

Analyze, research, and apply basic federal tax law for individuals.
Analyze and make decisions with basic tax planning and research issues.
Prepare individual tax returns with the latest tax software.
Master the individual tax knowledge necessary to be successful on the CPA Examination.

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