ACCT 2220 - Federal Individual Income Tax Accounting

3 Credits
Introduces students to federal individual income tax law. This course is intended primarily for accounting two-year program students, or those interested in an introductory income tax course.

Major Content Areas
Tax computations and tax credits:

Employee expenses:

Depreciation/amortization/depletion:

Deferred compensation:

Property transactions:

Federal tax law:

Deductions and losses:

Capital gains and losses:

Gross income/inclusions & exclusions:

Tax planning:

Passive activity losses:

Alternative minimum tax:

Learning Outcomes
Analyze financial data and prepare management presentations utilizing Microsoft Office tools.

Develop a working knowledge of Form 1040 and its accompanying schedules.

Calculate allowable tax credits given a variety of tax information.

Communicate financial and management information effectively in both verbal and written form.

Determine the correct filing status and number of exemptions given a variety of tax situations.

Calculate gross income, adjusted gross income and taxable income given a variety of tax information.

Demonstrate knowledge of ethical considerations.

Conduct research to answer basic individual income tax questions.