Nov 30, 2023
ACCT 2035 - Fundamentals of Federal Income Tax Credits: 3
Hours/Week: Lecture 3 Lab None
Course Description: This course is an introduction to taxation policy and the application of that policy to the preparation of federal income tax returns¿individual and corporate. Topics include taxable income, deductions, exemptions, and tax credits. This course also includes the use of a computer software package.
Prerequisite(s): ACCT 1010 or ACCT 2020 with a grade of C or higher.
- Filing Data
- Filing Status
- Personal and Dependency Exemptions
- Determining Tax Liability
- Identifying Gross Income
- Itemized Deductions
- Tax Credits
- Business Return for the Individual
- Returns for a Corporation, Limited Liability Company, and Partnership
- Tax Administration
- Filing Requirements
At the end of this course students will be able to:
- demonstrate a basic understanding of federal income tax returns for corporations.
- demonstrate a basic understanding of federal income tax returns for limited liability companies.
- demonstrate a basic understanding of federal income tax returns for partnerships.
- demonstrate a basic understanding of the Internal Revenue Code.
- prepare a basic federal income tax return for individuals.
Competency 1 (1-6)
Competency 2 (7-10)
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