Survey of Federal Income TaxBack to Course Guide
The course emphasizes income tax statutes as applied to partnerships, corporations, estates, and trusts.
UPON COMPLETION OF THE COURSE, THE STUDENT WILL BE COMPETENT IN:
- Analyzing the conceptual framework of income tax as applied to taxpayers other than individuals.
- Evaluating tax reporting requirements for taxpayers other than individuals.
- Analyzing and illustrating legitimate tax planning techniques.
- Differentiating between capital gains and ordinary income.
- Conducting research to support opinions about significant tax issues.
- Determining the tax aspects of specific business transactions.
- Identifying income tax credits versus tax deductions.
- Analyzing the tax effect upon various business structures.
- Computing the carry-over and recapture of tax benefits and credits.
- Interpreting current changes in tax law.
- Computing a partner’s distributive share of income.
- Analyzing the tax effects of corporate distributions.
- Evaluating liquidation and reorganization concepts as applied to corporations and shareholders.
- Determining the unique tax aspects of “S” corporations, excess accumulated earnings, and personal holding companies.
- Analyzing international tax implications of foreign corporations.
- Identifying the tax consequences of property transfers between taxpayers and controlled entities.
- Reconciling net income per accounting records with taxable income per tax returns.