ACC 4140 - Income Tax Accounting

4 unit(s)

Principles and concepts of federal income tax for individuals, corporations, and partnerships; underlying rationale; advance planning to minimize tax impact.

Satisfies G.E. area UD-4.

Prerequisites: ACC 2110 and MATH 1500 (or MATH 1410 or MATH 1552 or MATH 1910).

Course Learning Outcomes List
Students will be able to:

Examine the concepts of what is income, both what is taxable and what is not taxable, and what is allowed, as well as what is not allowed, as an offset to the sources of income (PLO #2); and,
Understand how a taxpayer’s tax liability is determined and the options to reduce that liability.

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