General Course Information

The following table provides general course information relevant to insuring you are properly registered and class meeting times.

Instructor Information

The following table provides information relevant to communications with your instructor throughout the 16-week semester.

Required Text

West Federal Taxation – Individual Income Taxes, Hoffman Smith Willis, 2001 Edition. It looks expensive.

Course Description

This course studies Chapter 1 the Internal Revenue Code (Title 26 of the United States Code). We will study the current laws relating to income realization and recognition, exclusions from income, business and personal deductions, credits from tax, business and personal gains and losses, depreciation, accounting periods and methods, and the alternative minimum tax.

We will learn some of the basics of tax research and will use Commerce Clearing House’s Tax Service (available in all ACC computer labs). This class will be of little value unless we have some basic understanding of how to analyze difficult tax questions and interpret tax law changes, because the law does change all the time.

Course Objectives

At the end of this course you will be able to:

· Understand why and where tax laws are generated,

· Understand how tax laws are administrated and some basics of tax research,

· Understand the current application of basic individual tax laws, and

· Develop and/or enhance your organizational skills, problem-solving skills, and demonstrate competence in applying technology to solving tax planning issues and problems.

CPA exam and transfer credit

This course counts for the 30 accounting hours required by the Texas State Board of Public Accountancy to take the CPA examination. This course will transfer to most four-year colleges and universities.

School Policies

These policies are outlined in the Austin Community College Student Handbook. Please obtain a copy from Student Services.

Activity

Points

Percent

Exam 1

200

25%

Exam 2

200

25%

Exam 3

200

25%

Tax Return Project

100

12.5%

Research Projects, quizzes, etc.

100

12.5%

TOTAL

800

100.0%

Safe Harbor Basis for Grading

Please assume that there will not be a curve at the end of the session.

End of Session Point Total

Grade

720 ¾ 800

A

640 ¾ 719

B

560 ¾ 639

C

420 ¾ 559

D

000 ¾ 419

F

Exams

The exams will be a combination of multiple choice, true-false problems, and other problems I retain the completed exams and keep them for one semester.

Make-up exams – Please make every effort to take the exams on the scheduled date. Otherwise, you will get behind on the new material and you will not do well on the later exams. The make-up exam policy follows:

You must talk to me prior to the next class meeting. A make-up exam will be placed in the testing center of this campus. You have a maximum of ONE WEEK from the date of our discussion to take the make-up exam.

If there is a conflict, you may take an exam early with no penalty. Please discuss this with me as soon as you are aware of a conflict.

Homework

Homework is a critical part of any accounting course. Important accounting concepts cannot be fully understood until you work with them by completing the homework assignments. Completing the assignments is critical in adequately preparing for the exams.

The homework assignments and their due dates are listed at the end of the syllabus.

There are 15 chapters for which homework problems are due. Each fully completed homework assignment will benefit you endlessly.

However, you may have already noticed that there is no grading component for homework problems. I do not collect or grade homework. However, the concepts in this course are rarely understood without a substantial effort made at completing homework problems.

Homework problems may be discussed during class. It is the students' responsibility to advise me which problems require the most attention. Solutions will be posted on my web page and can be printed by the students from home, or reviewed at your convenience.

Class Preparation

Your attendance is expected at all lectures. Also, the exams are a reflection of the material covered in class. It is to your advantage to attend class and participate in the discussion of the material.  Please be prepared for the material.

Project

This class would not be as much fun if we didn't have to prepare a federal income tax return for a hypothetical human being. The information required to prepare the return will be posted on my web page at some future date.

Attendance

Austin Community College does not have an established attendance policy. The Business Studies Area has determined that absences in excess of 10 percent of the scheduled class periods are the basis for an instructor to withdraw a student from class. WHILE I MAY WITHDRAW A STUDENT FOR EXCESSIVE ABSENCES, I HAVE NO OBLIGATION TO DO SO.

Withdrawals

November 22^nd is the last day to withdraw from this class and receive a grade of "W". If you wish to withdraw, complete a withdrawal slip and turn it into the admission’s office. I WILL NOT WITHDRAW YOU. It is the student's responsibility to withdraw.

Incompletes

Incomplete grades are given only on rare occasions. The purpose of this grade is for an emergency that occurs after the withdrawal date and prevents timely completion of the course.

SCANS Competencies

The term scans is an acronym for the Secretary’s Commission on Achieving Necessary Skills. The U.S. Secretary of Labor commissioned task force in 1990 to examine the demands of the workplace. The commission’s first report, "What Work Requires of Schools," identified what employees need to know and be able to do in order to succeed in any occupation.

The following three SCANS competencies are incorporated into this course:

1. Organize Information,

2. Use Problem-Solving Skills, and

3. Apply Technology.

Organize Information

Definition: Organizes, processes, and maintains written or computerized records or other forms of information in a systematic fashion. Competently performing the tasks of organizing information includes understanding and organizing information from computer, visual, oral, and physical sources in readily accusable formats, such as computerized databases, spreadsheets, etc.

Learning activities may include the tax return project and various CCH tax research projects to be assigned.

See the grading policy for quantification of assessment for this course.

Use Problem Solving Skills

Definition: Recognizes that a problem exists (i.e. there is a discrepancy between what is and what should or could be); identifies possible reason for the discrepancy, devises and implements a plan of action to resolve it; evaluates and monitors progress; revises plan as indicated b findings.

Learning activities include adequate performance on the tax-return project and solving the end-of-chapter exercises and problems.

Assessment is based on credit given for the tax-return project.

Apply Technology

Definition: Understands the overall intent and the proper procedures for setting up and operating machines, including computers and their programming systems. Demonstrating competence in how to apply technology to tasks includes understanding and using various software (e.g. CCH tax service on the internet).

Assignments and Due Dates

Homework assignments generally are due on the date the lectures date. It is critical that you read the material and try the problems before the lecture. Please note that this schedule is subject to change. Any updates or changes will always be immediately posted on my website.

DATE

TOPIC

ASSIGNMENTS

8/31

Chapter 1 & 2

1: 12, 33,39, 43, 45 & 56

2: 1, 7, 9, 21, 28, 32, 33, 34, 43, 45, 49

9/7

Chapter 3

7, 10, 12, 16, 17, 18, 28, 31, 40, 45, 52

9/14

Chapter 4

2, 6, 12, 22, 28, 34, 37, 55

9/21

Chapter 5

4, 5, 8, 34, 38, 43, 60

9/28

Exam u

Chapter 1 through 5

10/5

Chapter 6 & 7

6: 3, 29, 31, 33, 36, 37

7: 6, 8, 39, 43, 49, 54

10/12

Chapter 8

1, 2, 6, 20, 22, 27, 33, 36, 45, 47

10/19

Chapter 9

1, 5, 15, 21, 22, 24, 32, 34, 47

10/26

Chapter 10

1, 6, 34, 40, 59

11/2

Exam 2

Chapters 6 through 10

11/9

Chapter 12

5, 7, 33, 44, 58, 68

11/16

Chapter 13

11, 25, 34, 41, 42, 46

11/23

Thanksgiving

11/30

Chapter 14

1, 22, 33, 43, 46, 50

12/7

Chapter 15 & 16

6, 14, 26, 28, 29

12/14

Exam w

Comprehensive