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ACC 4500 Taxation I

The focus of this course provides an overview of the study of personal federal income tax laws, forms, and reporting mechanisms, and their application to individual taxes as well as to business entities. Topics to be covered will include income and loss realization and recognition, capital gains and losses, exemptions, rates, gross income items, deductions of business expenses, employee expenses, and itemized deductions as well as the tax consequences of accounting decisions as they relate to basic business entities.