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AC 309 Individual Income Tax
Gould, Richard D.


Mission Statement: Park University provides access to a quality higher education experience that prepares a diverse community of learners to think critically, communicate effectively, demonstrate a global perspective and engage in lifelong learning and service to others.

Vision Statement: Park University, a pioneering institution of higher learning since 1875, will provide leadership in quality, innovative education for a diversity of learners who will excel in their professional and personal service to the global community.

Course

AC 309 Individual Income Tax

Semester

F2HH 2012 PA

Faculty

Gould, Richard D.

Title

Sr. Instructor

Degrees/Certificates

B.S. Management/Accounting - Park University
Master of Accountancy - Miami University
Certified Public Accountant

Office Location

3890 Indian Ripple Road, Beavercreek, OH

Office Hours

By Appointment

Daytime Phone

937-602-2525 Cell

E-Mail

p24621@pirate.park.edu

daytonrealtor@gmail.com

Semester Dates

Monday, October 22, 2012 to Sunday, December 16, 2012

Class Days

----R--

Class Time

5:30 - 10:30 PM

Prerequisites

AC 201 and CS 140 or equivalents

Credit Hours

3


Textbook:

"Income Tax Fundamentals" 2012 Edition by Whittenburg & Altus-Buller
ISBN13 9781111529192

Additional Resources:

"The Fair Tax Book" by Boortz & Linder  ISBN # 978-0-06-087549-7
"Fair Tax: The Truth: Answering the Critics" by Boortz & Linder  ISBN # 978-0-06-154046-2

McAfee Memorial Library - Online information, links, electronic databases and the Online catalog. Contact the library for further assistance via email or at 800-270-4347.
Career Counseling - The Career Development Center (CDC) provides services for all stages of career development.  The mission of the CDC is to provide the career planning tools to ensure a lifetime of career success.
Park Helpdesk - If you have forgotten your OPEN ID or Password, or need assistance with your PirateMail account, please email helpdesk@park.edu or call 800-927-3024
Resources for Current Students - A great place to look for all kinds of information http://www.park.edu/Current/.

http://websites.swlearning.com/
http://parkonline.org
http://irs.gov
http://fairtax.org

Course Description:
A study of the current Federal Income Tax law with emphasis on its application to individuals as part of a cooperative effort with the Internal Revenue Service. Prerequisite: AC201 and CS140. 3:0:3

Educational Philosophy:

The instructor's educational philosophy is one of interactiveness based on lectures, readings, quizzes, cases, dialogues, & examinations. The instructor will engage each learner to encourage the exploration of ideas, issues and contradictions

Learning Outcomes:
  Core Learning Outcomes

  1. Prepare a federal individual income tax return utilizing computer software.
  2. Gather and understand the significance of source documents necessary to prepare an individual tax return.
  3. Use a computer to report tax information and apply the various rules relating to filing status in order to calculate taxable income.
  4. Calculate depreciation expense, Form 4562, utilizing MACRS, ADS, Bonus and Section 179 where applicable, and knowing the limitations o listed property.
  5. Apply Section 162 of the Internal Revenue Code and the parameters for the deductibility of business expenses.
  6. Apply the income tax rules which apply to deductions "for" and "from" adjusted gross income in order to calculate taxable income.


Core Assessment:

Description of the Core Assessment Instrument   Final Exam  

This assessment is designed to assess Core Learning Outcomes #1 - #6 and will make up 30% of the course grade

Link to Class Rubric

Class Assessment:
Examinations, Group Project, Term Paper & Class Participation

Grading:

Exam                                =  30%
Final Exam                        =  30%
Group Project                   =  30%  
Term Paper                       =    5%    
Class Participation             =    5%

Total                                 = 100%

 

Scale:
90 - 100  A
80 -  89   B
70 -  79   C
60 -  69   D
< 60        F

The course grade for students will be based on the overall average of homework and tests taken during the course in accordance with the weighting of the various requirements as stated in the syllabus.

All final exams in all School of Business courses will be comprehensive and will be closed book and closed notes. They will constitute 30% of the total course grade and will not be a take-home exam. They will be completed during the test week in the period designated by the registrar or by the Proctor in the case online courses. If calculators are allowed, they will not be multifunctional electronic devices that include features such as: phones, cameras, instant messaging, pagers, and so forth. Electronic Computers will not be allowed on final exams unless an exception is made by the Dean of the School of Business.

Late Submission of Course Materials:
Students are expected to turn in assignments and take examinations on the date scheduled or due. Late submissions of work or make-up exams will not be accepted unless prior arrangements are made with the instructor.

Classroom Rules of Conduct:
Faculty members are expected to dismiss from their classrooms students whose behavior is detrimental to good order in the classroom. Such behavior includes, but is not limited to, the use of abusive or obscene language, attending the class under influence of drugs or alcohol, etc. Students who are dismissed from class may be given failing grades, suspension, or expulsion from Park University. Students whose behavior, either verbal or written, is detrimental to the good order of Park University may be subject to disciplinary action ranging from suspension to expulsion from Park University. Students who exhibit abusive or obscene language or behavior toward administrative personnel or support staff are also subject to suspension or expulsion from Park University.

Course Topic/Dates/Assignments:

Class/Week

Topic

Reading

Assignments

1

The Individual Income Tax Return
Gross Income & Exclusions,

Chapter 1
Chapter 2

Assign Groups
TBD

2

Business Income & Expenses, Part I

Business Income & Expenses, Part II

Chapter 3

Chapter 4

TBD

TBD

3

Itemized Deductions & Other Incentives

Chapter 5

TBD

4

Credits & Special Taxes

Chapter 6

TBD

5

Exam

Accounting Periods & Methods & Depreciation
Capital Gains & Losses


Chapter 7
Chapter 8


TBD
TBD

6

Exam
Withholding, Estimated Payments, & Payroll Taxes

Chapters 6-8
Chapter 9


TBD

7

Group Projects Due
Term Papers Due
Partnership Taxation
The Corporate Income Tax
Tax Administration & Tax Planning

 
Chapter 10
Chapter 11
Chapter 12

 
TBD
TBD
TBD

8

Final Exam

Academic Honesty:
Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University students and faculty members are encouraged to take advantage of the University resources available for learning about academic honesty (www.park.edu/current or http://www.park.edu/faculty/).from Park University 2011-2012 Undergraduate Catalog Page 95-96

Plagiarism:
Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. from Park University 2011-2012 Undergraduate Catalog Page 95

Attendance Policy:
Instructors are required to maintain attendance records and to report absences via the online attendance reporting system.

  1. The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.
  2. Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.
  3. In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "F".
  4. A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.
  5. Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.
  6. Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

Park University 2011-2012 Undergraduate Catalog Page 98

Disability Guidelines:
Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Additional Information:

1.  Instructor reserves the right to change weekly assignments and
grading criteria based on the Instructor's assessment of the class. 
Any changes will be announced in class.


2.  Email is the most efficient way to contact the instructor with
questions about the material covered.  Students should document their
question(s) as best as they can and leave a contact phone number.  All
questions to the instructor will be addressed within 24 hrs.  

Bibliography:



Rubric

CompetencyExceeds Expectation (3)Meets Expectation (2)Does Not Meet Expectation (1)No Evidence (0)
Core Learning Outcome #1 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Prepare a federal individual income tax return utilizing computer software.                                                                                                                                                                                                                                                                                                                                                                                                                                          
Student correctly and consistently prepares Federal tax returns with computer software. Student correctly identifies items for tax returns but does not apply the information correctly on the Federal tax return. Student is not able to correctly prepare a computerized Federal tax return.  
Core Learning Outcome #2 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Gather and understand the significance of source documents necessary to prepare an individual tax return.                                                                                                                                                                                                                                                                                                                                                                                                            
Student correctly and consistently prepares working papers and schedules to support income tax returns. Student correctly evaluates income tax consequences but does not present information in working papers and schedules to support income tax returns. Student is unable to prepare working papers and schedules to support income tax returns.  
Core Learning Outcome #3 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Use a computer to report tax information and apply the various rules relating to filing status in order to calculate taxable income.                                                                                                                                                                                                                                                                                                                                                                                 
Student correctly and consistently uses computer software to prepare and report tax information. Student is able to use the computer software but does not plan and report tax information correctly. Student is unable to use computer software to correctly report tax information  
Core Learning Outcome #4 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Calculate depreciation expense, Form 4562, utilizing MACRS, ADS, Bonus and Section 179 where applicable, and knowing the limitations o listed property.                                                                                                                                                                                                                                                                                                                                                              
Student correctly and consistently calculates depreciation expenses on Federal income tax returns. Student is able to organize and compile tax return but does not apply the details appropriately on Form 4562. Student is unable to correctly and consistently organize information relating to the calculation of depreciation expense on Federal income tax returns.  
Core Learning Outcome #5 (part of Core Assessment)                                                                                                                                                                                                         
Outcomes
Apply Section 162 of the Internal Revenue Code and the parameters for the deductibility of business expenses.                                                                                                                                                                                                                                                                                                                                                                                                        
Student correctly and consistently applies provisions of Section 162 of the Internal Revenue Code as it relates to the deductibility of business expenses. Student correctly applies provisions of Section 162 of the Internal Revenue Code but may not consistently apply the information correctly for deductibility of business expenses. Student is unable to apply provisions of Section 162 of the Internal Revenue Code as it relates to the deductibility of business expenses.  
Core Learning Outcome #6                                                                                                                                                                                                                                   
Outcomes
Apply the income tax rules which apply to deductions "for" and "from" adjusted gross income in order to calculate taxable income.                                                                                                                                                                                                                                                                                                                                                                                    
Student correctly applies income tax rules in calculating adjusted gross income in order to calculate taxable income. Student correctly arrives at adjusted gross income but may not apply the income tax rules appropriately. Student is unable to apply income tax rules so as to calculate adjusted gross income in order to calculate taxable income.  

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Last Updated:9/24/2012 5:03:46 PM