ACC 241 - Individual Income Tax Procedures

Credits: 3
Lecture Hours: 3
Lab Hours: 0
A study of the federal income tax laws as they affect individuals. Principal topics are individual income tax overview, gross income and exclusions, adjustments to gross income, employee expenses, itemized deductions, capital gains and losses, net investment income tax, passive activity rules, credits and special taxes, business expenses, accounting periods, accounting methods, inventories, depreciation, amortization, and tax administration and tax compliance..
Prerequisite(s): ACC 104 OR ACC 101 and ACC 102 with a grade of C or better