Demonstrate knowledge of the components of federal taxation for various entities.
Prepare income tax returns for C-Corporations, S-Corporations, partnerships, estates, gifts and trusts and show the underlying calculations.
Identity when income and deductions are recognized, excluded or deferred.
Explain the interrelationships and differences between financial accounting and tax accounting.
Identify tax problems that can be solved by further research, or that require expert tax counsel.
Apply analytical reasoning tools to assess how taxes affect economic decisions for business entities.
Explain tax-related professional and ethical obligations.
Course Description Introduction to the tax law currently implemented by the Internal Revenue Service on business entities including C Corporations, S Corporations, Partnerships and fiduciaries. Credits: 3