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This is individual Federal income taxation course. It is the first of two course-sequence in Federal income taxes. The second course Federal Income Tax 2 covers business income tax. The main purpose of this course is to provide a basic overview and general understanding of the Federal income tax structure and its legislative history with emphasis on the major provisions of the tax laws as they relate to the personal income tax return preparation, and to promote an understanding of the simple tax planning for individuals and enhance students’ searching skills using the Federal taxation database to access tax law, cases, and ruling. It aims at developing crucial professional skills dealing with personal income tax regulations, ethics and equity, global perspective and court decisions. The course seeks to enhance critical learning skills through tax planning cases. Among topics covered are the Federal income tax Law history, sources and procedures, tax filing statuses, sources of income, taxable income, deductible expenses, simple tax planning and strategy to maximize the benefits from allowable deductions, exemptions and allowances, itemized deductions, self-employment taxable income, alternative minimum taxes, and preparing a simple-moderate personal Federal income tax return.
Prerequisite: Introductory Accounting 1 or equivalent.
Note: students need EXCEL spreadsheet software. This course includes special online lessons that may include audio or video. Your computer must meet the minimum computer/technical requirements set by Moodle. If you have questions or concerns about these technical requirements, please contact the help desk online at http://techinfo.esc.edu or call 800 847-3000 ext. 2420.
This online course is offered through Online Learning. You can take this as an individual course or as part of an online degree program, with term starts in March, May, September, November and January. View current term offerings and all online courses. Click here to register for online courses.
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Term(s) Offered (Subject to Change) : Spring 1. Summer. Fall 1.
For Books and Materials List Go to the Online Bookstore
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