Syllabus - ACCT420

ACCT420 - Federal Income Tax II

Description:
Analysis of the income tax consequences of the formation, operation and liquidation of C-corporations, S-corporations, partnerships, estates and trusts including the treatment of distributions by these entities and tax planning considerations. Also examined is the tax effect of property transfers by gift or death. Technical tax research and tax memo documentation also required.

Outcomes:

  • Recommend tax strategies based on the research and application of Federal tax authorities to taxpayer issues communicated through memos, letters, and oral communication
  • Recommend corporate or partnership formation based on a comparative analysis of capital structure
  • Describe the taxation structure of estates, trusts and gifts
  • Calculate taxable income for corporations, partnerships, s-corporations, estates, and trusts
  • Connect tax law concepts with accounting applications learned in previous courses in preparation for the CPA exam

Required Text(s):

Spilker, B., Ayers, B., Barrick, J., Lewis, T., Robinson, J., Weaver, C., & Worsham, R., & Outslay, E. (2024). Taxation of individuals and business entities 2024 edition (15th ed.). McGraw-Hill. ISBN: 9781265364816