SYLLABUS
ACC—130
BUSINESS INCOME TAXES
INSTRUCTOR: Mrs. Cynthia McKoy OFFICE: Bldg. 1 Room 127
Business Department CLASS DAYS/HOUR: TTH 10:10-12:00
WEB
SITE: http://www.bladen.cc.nc.us VOICE MAIL: 910.879.5538
OFFICE HOURS:
This
course introduces the relevant laws governing business and fiduciary income
taxes. Topics include tax depreciation, accounting periods and methods,
corporations, partnerships, S‑corporations, estates and trusts, and
gifts. Upon completion, students should be able to complete various tax forms
pertaining to the topics covered in the course.
Whittenburg and Altus-Buller, Income Tax Fundamentals, 2004 Edition,
Thomson/South-Western Publishing Company.
TIME SCHEDULE/UNIT OF STUDY:
1 The
Individual Income Tax Return
2 Gross
Income and Exclusions/(TEST COVERING CHPS. 1
& 2)
3-4 Business
Expenses and Retirement Plans
5-6 Self-Employed
and Employee Expenses
(TEST COVERING
CHPS 3 & 4)
7 Itemized
Deductions and Other Incentives
8 Credits
and Special Taxes/(TEST COVERING CHPS 5
& 6)
9-10 Accounting
Periods and Methods and Depreciation
11 Capital
Gains and Losses/(TEST COVERING CHPS 7 &
8)
12-13 Withholding, Estimated Payments, and
Payroll Taxes
(TEST
COVERING CHP. 9)
14 Partnership
Taxation
15-16 The Corporate Income Tax/(TEST
COVERING CHPS 10 & 11)
A. A test
will be given every two chapters.
B. A
problem or problems will be graded from each chapter.
C. Problems
within the sections are to be completed as you read the chapter
D. True-False
section and Multiple Choice section must be completed the day after we complete
the chapter.
E. A form
or schedule will be completed every week after the third week.
At the end of this course, the student should be able to
successfully complete the following skills:
A. Define
and discuss tax terminology.
B. Complete
forms 1040EZ, 1040A, 1040, 1120, 1120-A, 1120S, 1065, 1041, 2441, 4684, 3903, 4797.
C. Complete
Schedules A, B, C, D, E, F, K-1, R, EIC.
D. Explain
the process of filing, auditing, and closing a tax return.
E. Complete
Inventory and Depreciation.
F. Complete
the necessary forms and compute payroll taxes.
Course
Management:
A. Two
(2) 110 minutes class periods per week.
B. Three
(3) credit hours.
C. Required
for Office Systems Technology, and Business
Administration students.
D. Prerequisite-NONE. “A good Business Math background
is needed”.
CLASSROOM
PROCEDURES AND ASSIGNMENTS:
A. Classroom
lecture, Discussion, and group work.
B. A test
after every two (2) Chapters
C. Discussion
of current tax trends and articles.
D. Comprehensive
Final Exam.
E. Quizzes
and Tests.
F.
No
make-up test will be given without prior permission of instructor.
G. Any
work late will be discounted one letter grade per day.
H. A student who withdraws after Mid-term, will receive a grade of F unless there is proof of an extenuating circumstance.
I.
Any
student missing 5 classes will be dropped from the class.
J. Attendance
grade will be decreased 10 points for each day absent.
EVALUATION:
Tests....................................... 40%
Problems.................................... 25%
Classwork, Homework, and Class
Participation 10%
Final Exam.................................. 20%
Attendance................................ ___5%
TOTAL 100%
MOTIVATIONAL TIP:
J
Students with perfect attendance and an
A average on all other course
work will be exempt from the FINAL EXAM.
J
Absences of 1-2 days the lowest test
grade is dropped.
DATES
TO REMEMBER:
Registration............................... January 4
Classes Begin.............................. January 5
End of Drop/Add........................... January 12
Martin Luther King Jr. Holiday............ January 17
Spring Break.............................. March 7-11
Midterm...................................... March
9
Easter Holidays........................ March 25 & 28
Final Exams................................. May
2–11
Graduation.................................... May
10
Usage Policy for Computer Classroom Labs
Access
·
Computer labs will only be accessible when an instructor
or lab facilitator has been assigned to supervise the lab. At all other times the labs will be locked.
·
Only students currently enrolled in a computer course
may use the instructional computer labs to work on current projects assigned in
an appropriate class.
·
Any student wishing to use one of the computer labs
outside of the normally scheduled class time period needs to have permission
from an instructor.
·
No printing is permitted without the specific consent
of an instructor.
·
Students should clean up the work area around them
and return chairs to proper positions when they leave the lab.
·
Conversations during lab hours should be kept to a
minimum to assure a quiet working environment for all students using the facility.
·
No food or drinks are allowed in the computer
labs.
·
Students should inform the instructor of any software
or hardware problems. In no instance
should a student attempt to repair or reset computers or printers, remove paper
jams, or install software of any kind without the permission of the instructor.
·
Students should not leave saved files on any hard
drive when they leave the lab. Student
files should be transferred to either a floppy disk or a CD.