ACCT 220 - Federal Income Tax I

5 credits

Recommended Preparation
BTECH 102

Prerequisites
ACCT 113 or ACCT& 201, or instructor permission.

An introduction to the basic concepts of the Internal Revenue Code as applied to individual and business tax problems. Includes the concepts of gross income, adjustments to gross income, deductions, credits, depreciation, and capital gains and losses. Provides experience in completing common reporting forms manually or with a computer.

Theory Hours
5 lecture hours.

Vocational Program Course
Vocational program course.

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

Course Outcomes

Computation of the tax liability, gross income, itemized deductions, exemptions and credits
Identify tax issues and where to research resolutions
Interpret and compute self-employment taxes
Completion of a various tax forms

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