ACCT 331 - Federal Taxation for Individuals

Units: 3
Taxation for individuals under the U.S. Federal Income Tax System. Reporting tax for incomes, exemptions, deductions, and capital gains and losses. Tax planning and strategies, and other related tax topics are discussed.

Prerequisites: ACCT 210 with grade C or better.
Possible Instructional Methods: On-ground or Online-Asynchronous.
Grading: A-F grading only.
Course Typically Offered: Fall & Spring

Student Learning Outcomes - Upon successful completion of this course students will be able to:

Describe the role of taxes in today’s economic environment, tax policy, and the sources of Federal tax law;
Identify taxable income for individuals;
Differentiate between types and benefits of tax deductions and report deductions;
Determine and report capital gains and losses;
Calculate and report an individual’s taxable income and tax liability;
Apply analytical reasoning tools to assess the timing of income recognition and deductions;
Discuss tax planning and strategies for individuals.