ACC 266 - Tax Accounting
Last Date of Approval: Spring 2019
3 Credits
Total Lecture Hours: 45
Total Lab Hours: 0
Total Clinical Hours: 0
Total Work-Based Experience Hours: 0
Course Description:
This course provides an introduction to the federal tax structure, the federal revenue system, business and non-business income and deductions, tax credits, and capital gains and losses as they relate to individual income tax preparation.
Prerequisites/Corequisites: ACC 111 - Intro to Accounting or ACC 142 - Financial Accounting
Mode(s) of Instruction: traditional/face-to-face, and/or online
Credit for Prior Learning: There are no Credit for Prior Learning opportunities for this course.
Course Fees: None
Common Course Assessment(s): None
Student Learning Outcomes and Objectives:
Demonstrate an understanding of the 2019 Federal income tax laws applicable to individuals and small businesses.
a. Describe the contents of the individual income tax return (Form 1040).
b. Calculate gross income.
c. Analyze business income and expenses.
d. Identify and calculate itemized deductions.
e. Describe the tax credits and special taxes.
f. Recognize the impact of selecting an accounting period and depreciation method.
g. Compute capital gains and losses.
h. Evaluate tax law as it relates to litigation.
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