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Upper Level
Credits: 4
Term(s) Offered (Subject to Change) : Jan.
Review the federal income tax structure and its legislative history with emphasis on taxation for the individual. Includes tax computation, gross income, itemized deductions, business income and deduction, depreciation and amortization, determination of gain or loss on property transactions, and alternative minimum taxes.
Includes completion of the Practice Set provided with the Course Guide, and preparation of tax returns using both the Practice Set and the IRS materials.
NOTE: Students planning to sit for the C.P.A. exam in the State of New York should discuss with their advisor or the Area Coordinator for Accounting the C.P.A. licensure requirements.
Prerequisite: Accounting 1 or equivalent.
