ACCT 1406 - Income Tax
4 Credits
This course focuses of the Internal Revenue Code as it applies to individuals and businesses. Topics include foundations and concepts of tax law, income and deductions, calculating taxable income and income tax, and business income and deductions including depreciation. Preparation of tax forms on income tax software is an integral part of this course.
Learning Outcomes
Calculate adjusted gross income, taxable income, and income tax. Research and prepare income tax returns using computerized software. Determine “for” and “from” deductions. Differentiate between taxable and pass-through entities. Understand fundamental tax law and concepts. Determine income and deductions for business, including depreciation calculations. Determine income inclusions and exclusions.
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