BUS 188 - Income Tax I
An introduction to individual federal income tax concepts and applications including tax policy considerations and the historical development of tax law. Develops the concepts of gross income, capital gains and losses, itemized deductions, employee expenses, deferred compensation, depreciation, property transactions, tax credits and tax planning. Emphasis on tax theory and practical application of theory by preparing returns manually and with tax preparation software.
3 Class Hours
Learning Outcomes of the Course:
Upon successful completion of this course the student will be able to:
1. Prepare personal income tax forms for the average wage-earning taxpayer using correct interpretation of tax law and proper taxpayer information.
2. Demonstrate knowledge of various sources of information regarding income taxes and use this information in the proper preparation of tax returns.
3. Use current laws and regulations concerning income taxes and demonstrate this knowledge in the proper preparation of tax returns.
4. Prepare returns and schedules by hand and through the use of tax preparation software.
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