Federal Income Tax Accounting 431 Fall 2006
Henry B. Brock, CPA, MBA Office: Bldg. 94 room 261
Telephone: 909-869-2369 Email: hbbrock@csupomona.edu
Web Page: http://www.csupomona.edu/~hbbrock
Office Hours: TTh 1:30 - 3:00 PM
Text: Concepts In Federal Taxation 2007 Edition by Murphy & Higgins
Course Objectives:
1. Identify the concepts, principles, and doctrines of the federal tax law.
2. Learn to research, read, and analyze the tax law.
3. Know the responsibilities of tax practice which includes the ethical implications.
4. Prepare research papers and business communications which meet the legal and ethical requirements of tax practice.
5. Sharpen critical thinking skills in addressing client situations.
6. Learn a framework for tax planning.
Determination of Grade:
Exams: One mid-term and one final exam. There are no make-up exams unless there is an extraordinary circumstance that must be documented. Each exam is 100 points.
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 will be taken up on the date they are due. Participation is 50 points.
Written assignments: All assignments submitted must by 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 the appropriateness of your answer, following directions, grammar and spelling, and documentation. There are two written assignments: Tax Research (individual work) and Tax Planning (group project). See requirements on web page. Each assignment is 100 points.
There is a total of 450. A = 418 - 450; B = 369 - 417; C = 324 - 368; D = 270 - 323; below 270 is an F.
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.
Grade 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.
Written Assignment Requirements: All assignments submitted must by 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 the appropriateness of your answer, following directions, grammar and spelling, and documentation. There are two written assignments: Tax Research (individual work) and Tax Planning (group project). See requirements on web page. Each assignment is 100 points. There is an example of a tax research case on the library web page http://opac.library.csupomona.edu/search/p. You will be given the data to complete the tax planning project.
In all your written assignments you must not take credit for another's work. The definition in the catalog is as follows:
Schedule of Assignments
|
Date |
Topic |
Assignments |
|
9/21 |
Introduction |
|
|
9/26 |
Chapter one - Federal Income Taxation - An Overview |
Problems: 43,44,51,53,54,56,57,59,61,64,65 |
|
9/28 |
Chapter two - Income Tax Concepts |
Problems: 22,26,28,30,31,33,35,38,39,42,49,50,58 |
|
10/3 |
Chapter two |
Issues: End of chapter |
|
10/5 |
Chapter three - Income Sources |
Problems: 30,33,35,38,40,42,46,50,52,58,66,69,79 |
|
10/10 |
Chapter three |
Issues: End of chapter |
|
10/12 |
Chapter four - Income Exclusions |
Problems: 21,24,27,32,33,41,43,46,49,54,55,60,64 |
|
10/17 |
Chapter four |
Issues: End of chapter |
|
10/19 |
Mid-term Exam - Chapters 1 - 4 |
|
|
10/24 |
Chapter five - Introduction to Business Expenses |
Problems: 27,29,34,37,39,41,43,47,50,53,55,59,66,69 Tax Research Due.
|
|
10/26 |
Chapter five |
Issues: End of chapter |
|
10/31 |
Chapter six - Business Expenses |
Problems: 27,29,33,35,38,43,47,50,57,70,77 |
|
11/2 |
Chapter six |
Issues: End of chapter |
|
11/7 |
Chapter seven - Losses - Deductions and Limitations |
Problems: 17,21,24,31,33,37,43,46,51,57,63,68,72 |
|
11/9 |
Chapter seven
|
Issues: End of chapter Tax Return Due. |
|
11/14 |
Chapter eight - Taxation on Individuals |
Problems: 30,33,34,38,40,42,45,48,53,57,63,65,69,76 |
|
11/16 |
Chapter eight |
Issues: End of chapter |
|
11/21 |
Discuss Tax Planning Case |
Tax Planning Case Due |
|
11/28 |
Video |
|
|
11/30 |
Review |
|
|
12/5 |
Final 1:40 pm |
|