Course Content and Outcome Guide for BA 256
- Course Number:
- BA 256
- Course Title:
- Income Tax
- Credit Hours:
- Lecture Hours:
- Lecture/Lab Hours:
- Lab Hours:
- Special Fee:
Course DescriptionIntroduces preparation of federal individual and sole proprietorship income tax returns. Provides brief overview of partnership and corporate returns. Audit available.
Addendum to Course Description
This course is designed to introduce students to the Federal tax system for individuals and businesses. Students will learn how to complete basic schedules and forms, including the W-2, W-3, and W-4 forms.
Intended Outcomes for the course
- Demonstrate an understanding of how to complete a basic set of forms and schedules for an individual taxpayer
- Demonstrate a knowledge of current tax rules and regulations
- Calculate the correct of amount of tax using tax tables and/or tax formulas provided by the government
Outcome Assessment Strategies
Objective examinations such as multiple choice, matching, short answer, etc.
- Exercise and problem test items.
- Problem assignments which demonstrate the application of appropriate income tax procedures including the completion of tax forms and schedules.
- Attendance and participation in class activities
- Any combination of other methods, including quizzes, group activities, presentations, practice sets, case studies or research assignments.
Course Content (Themes, Concepts, Issues and Skills)
- Withholding allowances
- Gross income
- Deductions to arrive at adjusted gross income
- The standard deduction
- Itemized deductions
- Tax tables and schedules
- Credits and special taxes
- Capital gains and losses
- Partnership returns
- Critical thinking
- Effective written and oral communications
- Ethical conduct
- Explain who must file and determination of filing status
- Demonstrate what is included in gross income
- Calculate adjusted gross income by determining what qualifies as deductions from gross income to arrive at adjusted gross income
- Compare total deductions on schedule A with the standard deduction to determine which is larger
- Demonstrate the items that qualify as itemized deductions
- Determine tax credits and special taxes
- Calculate capital gains and losses
- Recognize the importance of ethics
- Demonstrate knowledge of basic income tax terminology