ACC 129 Individual Income Taxes

Lecture: 2 Lab: 2 Clinic: 0 Credits: 3

This course introduces the relevant laws governing individual income taxation. Topics include tax law, electronic research and methodologies, and the use of technology for preparation of individual tax returns. Upon completion, students should be able to analyze basic tax scenarios, research applicable tax law, and complete various individual tax forms.

Course is typically offered in Fall.
Course has transfer restrictions - 10 years

Student Learning Outcomes (SLOs)
At the completion of the course, the students should be able to do the following:

Explain how taxes influence basic business, investment, personal, and political decisions.
Discuss what constitutes a tax and the general objectives of taxes.
Calculate a tax liability using different tax rate structures and filing status.
Prepare tax returns with appropriate filing status, taxable income, adjustments to/from adjusted gross income, and tax liability.
Prepare retirement plans using tax-advantaged vehicles (401k, IRA, Roth-IRA).
Analyze home purchase and disposition transactions.