FEDERAL INCOME TAX II   ACC 432   Summer 2005

Professor: Henry B. Brock, CPA, MBA   Office: 94-248   Telephone:  909-869-2378   Office Hours:  MTWTH 5:00 - 6:00 and by appointment.

Email:    hbbrock@csupomona.edu    Web Page: http://www.csupomona.edu/~hbbrock/

Text Book:  Concepts in Federal Taxation 2005 Edition  Murphy & Higgins

Perquisites: A grade of C or better in Acc. 431.

General Course Objectives:

1. To provide students with a basic background in Federal taxation.
2. To familiarize students with the concepts and principles employed by lawmakers to develop the IRC.
3. To update the student's knowledge of tax research techniques to resolve tax problems.
4. To improve writing skills for professional communication.
5. To sharpen critical thinking skills in approaching tax research.

Student Outcomes:

1. Gather tax information needed to determine tax liability.
2. Identify information based on the tax law.
3. Research tax material to analyze tax information.
4. Document research of tax material.
5. Understand tax terminology.
6. Make judgments based on research to determine tax liability.
7. Write a professional Business letter to a client.
8. Know the technique to prepare tax planning for clients.

Determination of Grade:

Exams: One mid-term exam (100 pts.) and a final (100 pts.). There are NO make-up exams unless there is an extraordinary circumstance that must be documented.

Grading: There is a total of 400.  A = 372 - 400; B = 328 - 371;  C = 288 - 327;  D = 240 - 287; below 240 is an F.

Exams – 200 pts.  Tax planning – 150pts.  Participation – 50pts.

 

 

 

 

Grading Appeals: You may appeal your grade on any written assignment or exam within one week of the time you are given your exam (assignment) or it was available to you.  All appeals must be word processed and include the reason for the appeal and any sources that support your appeal.  The assignment or exam will be re-graded taking into consideration your appeal and returned to you.

Participation: Participation:  It is expected that students will attend all classes and be prepared to discuss the subject matter assigned. Leaving early or coming in late will count as an absence.  Participation includes attendance, assignments, and speaking in class during the discussion. The problems assigned may be taken up on the date they are due. Participation is 50 points.

Written assignments: All assignments submitted must be word processed and have a cover sheet with the student’s name, class time, and the name of the assignment.  Hand written work or work without a cover page will not be graded or read. Work turned in late will be reduced by 5 points each day including weekends.  Your assignment will be graded based on the appropriateness of your answer, following directions, grammar and spelling, and documentation.  There is one written assignment, Tax Planning (group project).  See requirements on web page. The assignment is 150 points. You will be given the data to complete the tax planning project..

Cell Phones:  If you leave your cell phone on for an emergency, you must inform your professor prior to the beginning of class.  All other ringing of cell phones is prohibited.

The University has strict guidelines for academic integrity in the University Catalog.  All forms of violating academic integrity will be reported to Judicial Affairs.

In all your written assignments you must not take credit for another's work.  The definition in the catalog is as follows:

"Plagiarism is intentionally or knowingly presenting words, ideas or work of others as one’s own work. Plagiarism includes copying homework, copying lab reports, copying computer programs, using a work or portion of a work written or created by another but not crediting the source, using one’s own work completed in a previous class for credit in another class without permission, paraphrasing another’s work without giving credit, and borrowing or using ideas without giving credit." University Catalog (p.49)


 

 

 


 

Date

Topic

Assignments

6/21

Introduction

  

6/23

Chapter nine - Acquisition of Property

Problems:  22, 23, 43, 44, 58, 64, 69  Research:  82

6/28

Chapter nine - Discussion of Issues

Issues:  71, 72, 73, 76, 78, 81

6/30

Chapter ten - Cost Recovery on Property

Problems:  23, 37, 38, 47, 52, 53, 55  Research:  71     Engagement letter due.

7/5

Chapter ten - Discussion of Issues

Issues:  62, 63, 64

7/7

Chapter eleven - Property Dispositions

Problems:  23, 28, 33, 34, 40, 41, 47, 48, 49, 59, 62, 68
Research:  86

7/12

Chapter eleven - Discussion of Issues

Issues:  70, 71, 75, 78, 81

7/14

Chapter twelve - Non-recognition Transactions

Problems:  18, 22, 23, 24, 25, 29, 36, 39, 50 Research:  71  Tax Return Due.

7/19

Chapter twelve - Discussion of Issues

Issues:  59, 61, 63, 64

7/21

Mid-term exam chapters 9 - 12

  

7/26

Chapter thirteen - Choice of Business Entity - General Tax and Non-tax Factors

Problems: 37, 38, 40, 41, 43, 45, 47

7/28

Chapter thirteen

Problems:  51, 53, 56, 58, 60, 67, 69

8/2

Chapter thirteen - Discussion of Issues

Issues:  64, 65, 66, 67, 68, 69           Research:  76

8/4

Chapter fourteen - Choice of Business Entity - Operations and Distributions

Problems: 14, 15, 16, 17, 25, 29, 38

Working Papers Due

8/9

Chapter fourteen - Choice of Business Entity - Operations and Distributions

Problems: 45, 46, 47, 48, 49, 53, 55, 60, 63

8/11

Chapter fourteen - Choice of Business Entity -

Issues: 57, 59, 60, 63, 64, 67, 68

8/16

Chapter fifteen - Choice of Business Entity -

Questions 1 - 31 and Problems: 52, 63, 61

Tax Planning Case Due

8/18

Chapter fifteen - Choice of Business Entity

Research: 101
8/23 Review and discuss Tax Planning Case  
8/25 Video  

8/30

Final   6:00