Sample Syllabi 1
Suggested Syllabus
First Course in Taxation
One Course Only—Accounting Majors
10-Week Term Basis
(12 Chapter Course)
(Suggested class time: 4 – 5 hours per week)
Instructor:Class Time:
Office:Class Location:
Office Phone:Class Section:
E-mail:
Office Hours:
Required Textbook
Taxation for Decision Makers, 2008 edition, by Dennis-Escoffier & Fortin (Thomson South-Western, 2008)
Course Prerequisites
Course Objectives
1. To provide a comprehensive overview of both business and individual taxation for accounting majors who have the opportunity to take only one course in taxation at the undergraduate level.
2. To provide these students with the background necessary to continue advanced study of taxation at the graduate level.
3. To provide a foundation for further preparation in taxation prior to the CPA examination.
4. To become familiar with tax research procedures and requirements.
Assignments
To meet these objectives, students in this course will be expected to solve a variety of tax problems, use the Internet to access tax information, and practice the fundamentals of tax research using either printed or on-line tax research resources.
Key to types of assignments: CN = Crunch the Numbers
TT = Think Outside the Text
II = Identify the Issues
SI = Search the Internet
DR = Develop Research Skills DP = Develop Planning Skills
No questions under the “Check Your Understanding” are specifically assigned. Students should be prepared to answer all of these questions as they should be used as a guide to the chapter material as it is read.
Tax Returns
The tax return problems (located in Appendix D) are to be prepared in groups of two persons only with one return prepared and submitted by each group. (Sample tax return problems are located in Appendix C.)
Periodically, one or more of the Develop Research Skills problems will be designated for collection at the next class after its assignment. These problems will be graded both for content and the professional manner in which the results of the research are presented. (Note: you are required to prepare written solutions only for those research problems designated for collection.)
Grading
Activities / PointsClass Participation
Tax Returns
Research Problems
Exam I
Final Exam
Total / 100
150
150
250
350
1000
Schedule of Assignments
Week / Topic / Chapter / Assignments1 / Introduction to taxation, taxing units, business entities, types of taxes and tax rates. The effects of taxes on cash flow and the basic tax planning strategies. / Ch 1; Ch 2 pp. 41-56 / Ch 1: CN 25, 26, 35, 36, 37, 38, 45; II 56, 59; SI 64; DP 66(a).
Ch 2: CN 32, 33, 34;
DP70, 72, 75.
2 / Determining gross income—inclusions and exclusions; when is income recognized and by whom. Employee compensation and jurisdictional issues. / Ch 3; Ch 4 pp. 131-137 & 165-170 / Ch 3: CN 22, 27, 29, 3133, 40, 41, 43, 44, 45, 46, II 54, 57: DP 71, 73.
Ch 4: CN 18; DP 62.
Students read Ch 2 pp. 79- 85 on their own in preparation for research assignments as well as Appendix A.
3 / Employee fringe benefits, stock options and other deferred compensation; self-employed individual issues. Deductibility of business expenses, timing of the deduction, costs of starting a business and operating expenses. / Ch 4 pp. 137-164;
Ch 5 pp. 182-199 / Ch 4: CN 20, 24, 26, 27, 28, 39, 30, 31, 35; TT43;DP 67.
Ch 5: CN 22, 24, 32, 45, SI 63; DP 70, 71
Ch 2: DR 59, 60.
4 / Hobby vs. business expenses and the limited expense deductions; accounting for income tax expense. Basis and after-tax cost of asset acquisitions; cost recovery systems for business assets. / Ch 5 pp. 199-214
Ch 6 / Ch 5: CN 40, TT 48; II 58; DR 59; DP 72.
Ch 6: CN 16, 18, 19, 23, 25, 31, 34, 37; TT 45, 47; II 48, 50, 51; DR 53; DP 60, 62.
5 / Determining gains and losses on asset dispositions; dispositions of Section 1231 assets, capital assets and ordinary income property. / Ch 7 / Ch 7: CN 18, 20, 21, 23, 26, 27, 33, 35, 37, 38, 41,43; TT 49, 51; II 58; DR 59 DP 68, 72;
Week / Topic / Chapter / Assignments
6 / First Examination
Asset dispositions with tax deferral provisions: like-kind exchanges, involuntary conversions, asset transfers to controlled corporations and asset transfers to partnerships. / Ch8 / Ch 8: CN 17, 19, 24, 26, 29, 30, 32, 36, 38, 41, 42; TT 48; II 49, 53; DR 55; SI 60; DP 61.
7 / Taxation of regular corporations, treatment of corporate distributions, and issues for closely held corporations. (Exempt organizations and multistate issues in appendices.) / Ch 9 / Ch 9: CN 18, 21, 23, 28, 30, 32, 36, 38, 42, 43; II 51; DP 64; Complete the Form 1120 and all required schedules for the corporate tax problem (TRP1) located in Appendix D (due the beginning of week 9).
8 / Issues affecting a sole proprietor; tax consequences of forming a partnership, partners’ bases accounts and partnership distributions; tax consequences of forming an S corporation, election requirements, termination, and distributions. / Ch 10 / Ch 10: CN 16, 17, 18, 21, 22, 27, 30, 35, 36 40; II 47, 51; Complete Form 1065 for the partnership problem (TRP2) and Form 1120S for the S corporation problem (TRP3) located in Appendix D (due the beginning of week 10).
9 / Individual taxes: filing status, exemptions, standard deductions, itemized deductions, tax credits and determining the final tax liability. Tax return filing deadlines and other tax compliance issues. / Ch 11
Ch 2 pp. 59 – 70. / Ch 11: CN 19, 21, 22, 24, 26, 28, 29, 31, 32, 35, 37, 41, 42; II 48, 50; DR 57; DP 66, 67, 70;
Ch 2: CN 40; II 52,55. Complete individual tax return problem TRP6 located in Appendix D (due at the final exam).
10 / Wealth transfer taxes: the gift tax, the estate tax and the unified credit; transfers subject to gift taxes, exclusions, valuation problems, and “kiddie” tax issues; calculating the taxable estate and transfer tax planning; introduction to fiduciary income tax issues. / Ch 12 / Ch 12: CN 19, 21, 24, 26, 28, 30, 33, 36, 38, 40, 44TT 46; II 50; DR 58; SI 60; DP 62, 64.
Final Exam
Suggested Syllabus
First Course in Taxation
Emphasis on Business Taxation
10-Week Term Basis
(10 Chapter Course)
(Suggested class time: 3 – 4 hours per week)
Instructor:Class Time:
Office:Class Location:
Office Phone:Class Section:
E-mail:
Office Hours:
Required Textbook
Taxation for Decision Makers, 2008 edition, by Dennis-Escoffier & Fortin (Thomson South-Western, 2008)
Course Prerequisites
Course Objectives
1. To provide a comprehensive overview of business taxation for non-accounting undergraduate majors and MBA students.
2. To provide these students with a basic background in business taxation and the effect of taxes on the choice of business entity decision.
3. To provide practice in understanding and analyzing tax issues that arise in business.
Assignments
To meet these objectives, students in this course will be expected to analyze and solve a variety of tax problems, identify business tax issues, and understand common business planning techniques.
Key to types of assignments: CN = Crunch the Numbers
TT = Think Outside the Text
II = Identify the Issues
SI = Search the Internet
DP = Develop Planning Skills
No questions under the “Check Your Understanding” are specifically assigned. Students should be prepared to answer all of these questions as they should be used as a guide to the chapter material as it is read.
In addition, tax return problems are located in Appendix D for a regular corporation (TRP1), a partnership (TRP2), and an S corporation (TRP3). (Sample return problems are located in Appendix C.) One or more of these may be assigned prior to the end of the semester to be completed in groups of two, with one return prepared for each group. Due dates will be specified when returns are assigned.
Grading
Activities / PointsClass Participation
Tax Returns
Exam I
Final Exam
Total / 100
300
250
350
1000
Schedule of Assignments
Week / Topic / Chapter / Assignments1 / Introduction to taxation, taxing units, business entities, types of taxes and tax rates. The effects of taxes on cash flow and the basic tax planning strategies. / Ch 1 / Ch 1: CN 31, 35, 36, 37, 38, 40, 45; II 58, 59; SI 64; DP 66(a), 69.
2 / The effects of taxes on cash flow and basic tax planning strategies; the Internal Revenue Code and other sources of tax authority; tax compliance; audits and appeal procedures. / Ch 2 / Ch 2: CN 31, 32, 40; TT 41; DP 70, 71(a-d), 74, 75.
3 / Determining gross income—inclusions and exclusions; when is income recognized and by whom. Employee compensation and jurisdictional issues. / Ch 3; Ch 4 pp. 131-137 & 165-170 / Ch 3: CN 21, 22, 24, 27, 29, 31, 37, 38, 44; TT , 48; II 54: DP 70, 71.
Ch 4: II 47.
4 / Employee fringe benefits, stock options and other deferred compensation; self-employed individual issues. Deductibility of business expenses, timing of the deduction, costs of starting a business and operating expenses. / Ch 4 pp. 137-164;
Ch 5 pp. 182-199 / Ch 4: CN 27, 28, 29, 30, 31, 34, 35; TT 40, 42, 43, 45; DP 67.
Ch 5: CN 20, 24, 32, 44, 45; DP 71.
5 / Hobby vs. business expenses and the limited expense deductions; accounting for income tax expense.
First Examination / Ch 5 pp. 199-214 / Ch 5: CN 37; TT 44.
6 / Basis and after-tax cost of asset acquisitions; cost recovery systems for business assets. / Ch 6 / Ch 6: CN 16, 23, 25, 30, 34, 35, 37; TT45; II 48, 50; DP 60, 62.
7 / Determining gains and losses on asset dispositions; dispositions of Section 1231 assets, capital assets and ordinary income property. / Ch 7 / Ch 7: CN 19, 21, 23, 24, 29, 30, 36, 38; TT 52; II 56, 57; DP 71.
8 / Asset dispositions with tax deferral provisions: like-kind exchanges, involuntary conversions, asset transfers to controlled corporations and asset transfers to partnerships. Appendix 8-A: Reorganizations / Ch 8 / Ch 8: CN 17, 20, 24, 29, 30, 32, 34, 36841, 43, 44; TT 48; II 52, 54, 55; DP 65, 66, 67.
9 / Taxation of regular corporations, treatment of corporate distributions, and issues for closely held corporations. Exempt organizations and multistate issues in appendices. / Ch 9 / Ch 9: CN 18, 21, 24, 28, 29, 31, 32, 34, 35, 36, 37, 38, 42, 43; II 51, 53, 54; DP 64, 65.
10 / Issues affecting a sole proprietor; tax consequences of forming a partnership, partners’ bases accounts and partnership distributions; tax consequences of forming an S corporation, election requirements, termination, and distributions. / Ch 10 / Ch 10: CN 16, 17, 18, 21, 22, 23, 25, 28, 30, 33, 35, 36, 40; II 47, 48; DP 63.
Final Exam
Suggested Syllabus
First Course in Taxation
Personal Financial Planning Approach
14-Week Term Basis
(12 Chapter Course)
(Suggested class time: 3 hours per week)
Instructor:Class Time:
Office:Class Location:
Office Phone:Class Section:
E-mail:
Office Hours:
Required Textbook
Taxation for Decision Makers, 2008 edition, by Dennis-Escoffier & Fortin (Thomson South-Western, 2008)
Course Prerequisites
Course Objectives
1. To provide a comprehensive overview of individual and an introduction business taxation.
2. To provide a basic background in taxation and the effect of taxes on financial decisions.
3. To complete an individual tax return and all accompanying schedules.
4. To provide practice in understanding and analyzing tax issues.
4. To research solutions to tax issues and communicate these results in appropriate form.
Assignments
To meet these objectives, students in this course will be expected to analyze and solve a variety of tax problems, identify individual tax issues, prepare an individual tax return, and understand common individual planning techniques. Students will be expected to prepare solutions for all assigned problems; this will serve as the basis for class discussion.
Tax Return
Students will be required to complete an individual tax return problem, TRP5, during the term. Information for this assignment is located in Appendix D. (Sample tax return problems are located in Appendix C.). The return is to be done in groups of two with one return submitted per group. The return is due the 12th week of class.
Tax Research Problem
Students will be required to complete a research problem. Information for this assignment is located in your textbook at the end of Chapter 3 under problem 63. Students must first write a memo to the file and then write a letter to the client. This assignment will be graded both for content and the professional manner in which the results of the research are presented. This will be due the 8th week of class.
Activities / PointsExam 1
Exam 2
Final Exam
Tax Return
Research Problem
Class Participation
Total / 100
100
100
40
40
20
400
Schedule of Assignments
Week / Topic / Chapter /Assignments
1 / Introduction to Taxation / Ch. 1 /Ch 1: 25, 26, 35, 36, 37, 38, 45, 64, 65, 66(a)
2 / Tax Practice / Ch. 2 / Ch 2: 33, 34, 40, 41, 72, 733 / Gross Income / Ch. 3 / Ch 3: 6, 14, 22, 26, 31, 36, 39, 40, 41, 43, 45, 53, 57, 66, 71, 73
4 / Employee Compensation / Ch. 4 / Ch 4: 16, 21, 25, 27, 28, 29, 31, 32, 36, 42, 59, 62
5 / Exam 1 (chapters 1-4)
Taxation of Individuals / Ch. 11
6 / Taxation of Individuals / Ch. 11 /
Ch 11: 20,21,23,25,27,28,30,31,32,33,35,39, 40, 64,65,67
7 / Business Expenses / Ch. 5 / Ch 5: 6, 19, 22, 23, 24, 30, 36, 45, 70, 728 / Cost Recovery Deductions / Ch. 6 / Ch 6: 1, 6, 16, 18, 19, 20, 22, 25, 31, 34, 37, 62
Tax Research Due
9 / Property Dispositions / Ch. 7 / Ch 7: 18, 20, 22, 33, 35, 37, 38, 41, 43, 44, 51, 66,68, 72.
10 / Exam 2 (chapters 11,5,6,7)
Tax Deferred Exchanges / Ch. 8
11 / Tax Deferred Exchanges / Ch. 8 / Ch 8: 16, 17, 20, 26, 28, 33
12 / Taxation of Corporations / Ch. 9 / Ch 9: 4, 5, 19, 20, 22, 28, 31, 33
Tax Return Due
13 / Flow-Through Entities / Ch. 10 / Ch 10: 6, 10, 15, 16, 24, 27, 29, 31, 33
14 / Wealth Transfer Taxes / Ch. 12 / Ch 12: 17, 19, 21, 26, 28, 31, 33, 34, 36, 40, 42, 62, 64
Final Exam
Suggested Syllabus
First Course in Taxation
Traditional Approach
14-Week Term Basis
(12 Chapter Course)
(Suggested class time: 3 hours per week)
Instructor:Class Time:
Office:Class Location:
Office Phone:Class Section:
E-mail:
Office Hours:
Required Textbook
Taxation for Decision Makers, 2008 edition, by Dennis-Escoffier & Fortin (Thomson South-Western, 2008)
Course Prerequisites
Course Objectives
1. To provide a comprehensive overview of individual and business taxation for accounting and non-accounting undergraduate majors.
2. To provide a basic background in taxation and the effect of taxes on financial decisions.
3. To complete an individual tax return and all accompanying schedules.
4. To provide practice in understanding and analyzing tax issues.
4. To research solutions to tax issues and communicate these results in appropriate form.
Assignments
To meet these objectives, students in this course will be expected to analyze and solve a variety of tax problems, identify individual tax issues, prepare an individual tax return, and understand common individual planning techniques. Students will be expected to prepare solutions for all assigned problems; this will serve as the basis for class discussion.
Tax Return
Students will be required to complete an individual tax return problem, TRP6, during the term. Information for this assignment is located in Appendix D. (Sample tax return problems are located in Appendix D.) The return is to be done in groups of two with one return submitted per group. The return is due on the last day of class.
Tax Research Problem
Students will be required to complete a research problem. Information for this assignment is located in your textbook at the end of Chapter 5 under problem 60. Students must first write a memo to the file and then write a letter to the client that includes tax planning suggestions. This assignment will be graded both for content and the professional manner in which the results of the research are presented. This will be due week 9.
Activities / PointsExam 1
Exam 2
Final Exam
Tax Return
Research Problem
Class Participation
Total / 100
100
100
40
40
20
400
Schedule of Assignments
Week / Topic / Chapter /Assignments
1 / Introduction to Taxation / Ch. 1 /Ch 1: 26, 35, 36, 37, 38
2 / Tax Practice / Ch. 2 / Ch 2: 6, 7, 22, 29, 33, 34, 37, 40, 663 / Gross Income / Ch. 3 / Ch 3: 14, 17, 22, 25, 27, 31, 33, 34, 39, 41, 43, 46, 73
4 / Employee Compensation / Ch. 4 / Ch 4: 14, 17, 19, 21, 23, 26, 27, 28, 29, 30, 35, 60, 62
5 / Exam 1 (chapters 1-4)
Business Expenses / Ch. 5
6 / Business Expenses / Ch. 5 / Ch 5: 6, 8, 10, 24, 25, 27, 28, 30, 36, 38
7 / Cost Recovery Deductions / Ch. 6 / Ch 6: 1, 6, 16, 18, 19, 20, 22, 25, 31, 34, 37, 59
8 / Property Dispositions / Ch. 7 / Ch 7: 22, 26, 33, 35, 43, 44, 72
9 / Tax Deferred Exchanges / Ch. 8 / Ch 8: 20, 26, 30, 33, 41, 43
Tax Research Due
10 / Exam 2 (chapters 5-8)
Taxation of Individuals / Ch. 11
6 / Taxation of Individuals / Ch. 11 /
Ch 11: 19, 21, 23, 24, 29, 30, 31, 32, 39, 41, 42
12 / Taxation of Corporations / Ch. 9 / Ch 9: 4, 5, 16, 19, 23, 31, 3313 / Flow-Through Entities / Ch. 10 / Ch 10: 6, 10, 16, 24, 27, 29, 31, 33
14 / Wealth Transfer Taxes / Ch. 12 / Ch 12: 17, 19, 21, 28, 30, 32, 35, 44, 64
Tax Return Due
Final Exam