M A S T E R S Y L L A B U S
COURSE TITLE AND NUMBER: Federal Income Taxation of Business Entities–BUS 309
DEPARTMENT: Accounting/MIS
CREDIT HOURS: 3
PREREQUISITES: BUS 108, 221
FEES AND CHARGES: none
EFFECTIVE CATALOG DATE FOR THIS MASTER SYLLABUS: 2006‑2007
1. Catalog Description:
A study of federal income tax law as applied to various forms of business entities, including sole proprietorships, C corporations, S corporations and partnerships.
2. Course Content:
1. Gross Income Inclusions & Exclusions
2. Tax Depreciation Rules
3. Calculating Individual & Corporate Tax Liability
4. Corporate & Partnership Formation
5. Corporate & Partnership Distributions
6. Rules unique to S corporations
3. Student Learning Objectives:
1. Learn the federal income tax law rules applicable to the major types of business entities and gain an appreciation for how income tax law impacts these various entities.
2. Learn the basic rules for calculating the taxable income of individuals, C corporations, partnerships and S corporations.
4. Student Assessment Criteria:
The course will consist of 3 tests and two practice sets. The tests account for 75% of the total grade. The practice sets account for the remaining 25%.
5. Additional Information:
West's Federal Taxation: Individual Income Taxes, Smith, Raabe, Maloney and Willis, Latest Edition, Thomson-Southwestern (Required)