ACCT 210 - Principles of Taxation 1

Number of Credits: 3
Apply the federal tax code to individuals. Analyze personal and dependency exemptions. Determine gross income, deductions and losses, tax credits, and property transactions to individuals. Compute the Alternative Minimum Tax. Prerequisite: ACCT-101. Three hours lecture each week. Three credits. Three billable hours. Offered Fall term only. (Fall Term Only) Three hours lecture. Three Credits. Three billable hours.

Pre-requisite(s): ACCT 101.
Course Objectives: Upon successful completion of this course, students will be able to:
1. Compute the regular income tax liability for individuals. (PG 4,6)
2. Explain the structure of the Internal Revenue Code and various tax authorities. (PG1)
3. Calculate taxable income for individuals.
4. Evaluate the deductibility of various types of expenditures. (PG4)
5. Analyze non-taxable exchanges.
6. Differentiate between tax depreciation methods and what constitutes various assets. (PG1)
7. Determine deductibility of various losses.
8. Calculate capital gains tax and depreciation recapture.