ACCT 530

Business Taxation

4 Undergraduate credits
Effective August 1, 1998 – Present

Graduation requirements this course fulfills

This course focuses on identifying issues that affect the taxation of businesses. Ten Chapters are covered: foundation of taxation, including types of taxes, structure of the income tax, taxpayers, and general concepts of income and deduction; business income and expenses; taxation of property transactions; and overview of corporations, S corporations, partnerships, and entity choice. Planning options are emphasized.

Special information

Note: Read chapter one before first class meeting.

Learning outcomes

General

  • From a conceptual perspective, explain how the federal tax system works and its impact on businesses.
  • Demonstrate an understanding of the tax practice environment by engaging in basic tax planning activities, by conducting research using CCH IntelliConnect, and by communicating research results orally and in writing.
  • Explain the professional and ethical standards that govern accountants engaged in tax practice.
  • Compare general accounting, income, and deduction concepts in the federal tax system to those in financial accounting.
  • Evaluate whether sources of income are taxable or excluded from federal gross income.
  • Identify expenses as business, production of income, or personal and analyze their deductibility.
  • Explain the various forms of compensation and evaluate their financial and tax consequences.
  • Describe and evaluate different tax elections and methods of cost recovery for business assets.
  • Categorize assets as business, capital, ordinary, or personal and analyze the tax consequences of the disposition of these types of assets.
  • Explain the business entity choices and assess the tax consequences of operating as a C corporation, S corporation, partnership, or sole proprietor.

Summer 2019

Section Title Instructor
01 Business Taxation Wilson, Cr Books Course details

Fall 2019

Section Title Instructor
01 Business Taxation Horn, Da Books Course details
02 Business Taxation Shannon, Ca Books Course details

Spring 2020

Section Title Instructor
01 Business Taxation Horn, Da Books Course details
02 Business Taxation Horn, Da Books Course details

Summer 2020

Section Title Instructor
01 Business Taxation Wilson, Cr Books Course details