ACCT 175 - Business and Payroll Tax Accounting

5 credits

Recommended Preparation
BTECH 102

Prerequisites
ACCT 113 or ACCT& 201 or instructor permission.

A study of the various aspects of federal, state and local taxes levied upon business. Emphasis placed on federal income and Social Security tax withholding, sales tax requirements and various state regulations regarding employee health, safety, unemployment insurance and business and occupation tax. Students will practice completion of various tax reports and maintenance of accurate tax related records.

Theory Hours
5 theory hours.

Vocational Program Course
Vocational program course.

AA General Elective
May be used as a general elective in the AA degree.

Course Outcomes

Describe the use of the personnel and payroll records to provide the information for payroll
Understand the Fair Labor Standards Act, Social Security Act, federal income tax withholding law, and other laws relating to the payment of wages and salaries
Understand the basic payroll accounting and procedures used in computing wages and salaries and the timekeeping methods used to record time worked
Identify the preparation of payroll registers, the recording of accounting entries for payroll, and the preparation of payroll tax returns required of business
Execute various payroll calculations by completing a payroll project

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