Syllabus Entrance
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AC 309 Individual Income Tax
Shapiro, Marsha G.


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

SP 2013 HO

Faculty

Shapiro, Marsha G.

Title

Assistant Professor of Accounting

Degrees/Certificates

Master of Science in Accounting
CPA

Office Location

Mackay 26.5

Office Hours

M/W 10:00-12:00; T/R 10:00-11:30; R 2:15-3:15 or by appointment

Daytime Phone

816-584-6304

E-Mail

marsha.shapiro@park.edu

Semester Dates

January 14, 2013-May 12, 2013

Class Days

---T-R--

Class Time

1:00 - 2:15 PM

Credit Hours

3


Textbook:

West Federal Taxation: Individual Income Tax 2013, 36th Edition w/CD. Hoffman
 
ISBN 9781133188704

Textbooks can be purchased through the MBS bookstore

Textbooks can be purchased through the Parkville Bookstore

Additional Resources:

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/.


Course Description:
AC309 Individual Income Tax: 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:

Course will be presented through lecture/discussion, in-class exercise, homework and preparation of tax returns, including various schedules. 
 
Homework/assignments will be assigned after each chapters is discussed in class.  Assignments will then be reviewed during the next class period.  Instructor will review the assignments for completeness at the beginning of class. Students will then correct their own homework.
 
There will be 2 tax returns assigned.  These will be prepared using tax software (provided with text). 

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:

The class will be assessed according to the performance on 4 examinations and various homework assignments.
 
Grading:
Exam I                           8%       25 points
Exam II              8%       25 points
Exam III                         8%       25 points
Final Exam                   34%      100 points
Homework/tax returns  42%      125 points
 
Total:                           100%    300 points
 
Grades will be assigned as follows:
 
A=90% 270 points
B=80% 240 points
C=70% 210 points
D=60% 180 points
Below 60% = F (below 180 points)

Grading:

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:
Excused absences should be discussed in advance.  Excused absences consist of work or school related travel, death in the family, illness or military duty.  Other instances will be considered on a case-by-case basis.  A student who is absent for any reason is still responsible for the course work that is covered during his or her absence.
 
Examinations will be made up when the instructor is notified in advance and at the instructor's discretion.
 
The student is reponsible for contacting the instructor regarding making up exams, etc.  The instructor  will NOT contact students who are absent to schedule make up work.
 
Any materials that are accepted late will be subject to up to a 10% late penalty, which will be assessed at the discretion of the instructor.

Homework:  Even if a student has an excused absence, no homework will be accepted late. If the student has an excused absence, he or she may email or upload assignment prior to class, or may send with a classmate.  Otherwise, the student will lose any homework points.
 
If a student has an unexcused absence, then no homework will be accepted.

Classroom Rules of Conduct:

To succeed in this course, students should:
 
  • Read all asigned materials prior to class
  • Participate in classroom discussion
  • Complete all homework assignments prior to class
  • Attend each class session
  • Allow several hours a week for homework/study
 
This class will move very quickly.  Do not allow yourself to get behind.
 
Extraneous talking will not be tolerated
 
Cell phones must be turned off

Absolutely no texting during class.

Course Topic/Dates/Assignments:

Week
Class Activities

Exams
Week 1 
Course Intro, Chapter 1 & 2 

 
Week 2  
Chapters 3 & 4

 
Week 3
Chapters 5 & 6

 
Week 4
Chapters 7 & 8

Exam I Chapters 1-5
Week 5
Chapters 9 & 10

 
Week 6
Tax Return #1

 
Week 7  
Chapters 11 & 12

 
Week 8
 Review, Exam II

Exam II Chapters 6-12
Week 9
Chapters 13 & 14

 
Week 10
Chapters 15 & 16

 
Week 11
Tax Return #2

 
Week 12
Review, Exam III

Exam III Chapters 14-16
Week 13
Chapters 17 & 18

 
Week 14
Chapters 19 & 20

 
Week 15   
Final Review
 
 
Week 16
Final Exam
 
Comprehensive Final Exam
 
Note: There is a 1 week break between weeks 8 & 9

Above subject to change at the discretion of the instructor.

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
Students are free to work together on assignments/homework. However, it is expected that students will perform their own work on all exams.

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:











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:12/21/2012 9:32:54 AM