powered by
Center for Curriculum and Transfer Articulation
Tax Accounting
Course: ACC221

First Term: 1995 Fall
Lecture   3 Credit(s)   3 Period(s)   3 Load  
Course Type: Occupational
Load Formula: S

Description: Preparation of and accounting procedures for individuals; introduction to partnerships and corporate tax structures

MCCCD Official Course Competencies
1. Apply generally accepted accounting principles to the more common taxation reporting and compliance situations. (I)
2. Identify basic theory, principles, and compliance for the more common aspects of personal, corporate, non-corporate, and fiduciary taxation. (I)
3. Describe basic principles of estate, gift, and excise taxation. (I)
4. Describe the most obvious historical, constitutional, political, economic, and social parameters of tax law. (I)
5. Interpret the rights and remedies available to taxpayers through the various administrative and judicial levels of government. (I)
6. Interpret the various elections, options, and alternative procedures available to a taxpayer. (II)
7. Identify the interplay of payroll, social security, income, and gift tax in common situations. (II)
8. Identify common tax problems when present. (II-VI)
9. Formulate long term tax plans. (II-VI)
10. Differentiate between business and non-business tax structures. (VI)
MCCCD Official Course Outline
I. Introduction
   A. A brief history of the tax laws
   B. Who, when, where must file
II. Gross income
   A. What is included
   B. What is excluded
   C. How to report gross income on tax forms
   D. Adjustments to gross income
III. Withholding
   A. Methods and computation
   B. Income subject to
   C. Depositing
IV. Personal exemptions
V. Itemized deductions
   A. Types of deductions
   B. Calculating tax liability
   C. Supplemental schedules
VI. Tax saving devices
   A. Capital gains
   B. Tax credits
   C. Maximum-minimum tax computation
   D. Income averaging
   E. Installment sales
   F. Depreciation methods
MCCCD Governing Board Approval Date: 5/23/1995

All information published is subject to change without notice. Every effort has been made to ensure the accuracy of information presented, but based on the dynamic nature of the curricular process, course and program information is subject to change in order to reflect the most current information available.