Maricopa Community Colleges  ACC221   19956-99999 
Official Course Description: MCCCD Approval: 05/23/95
ACC221 19956-99999 LEC 3 Credit(s) 3 Period(s)
Tax Accounting
Preparation of and accounting procedures for individuals; introduction to partnerships and corporate tax structures. Prerequisites: ACC111 or ACC211 or permission of department/division.
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MCCCD Official Course Competencies:
 
ACC221   19956-99999 Tax Accounting
1. Apply generally accepted accounting principles to the more common taxation reporting and compliance situations. (I)
2. Identify basic theory, principles, and compliance for the more common aspects of personal, corporate, noncorporate, and fiduciary taxation. (I)
3. Describe basic principles of estate, gift, and excise taxation. (I)
4. Describe the most obvious historical, constitutional, political, economic, and social parameters of tax law. (I)
5. Interpret the rights and remedies available to taxpayers through the various administrative and judicial levels of government. (I)
6. Interpret the various elections, options, and alternative procedures available to a taxpayer. (II)
7. Identify the interplay of payroll, social security, income, and gift tax in common situations. (II)
8. Identify common tax problems when present. (II-VI)
9. Formulate long term tax plans. (II-VI)
10. Differentiate between business and nonbusiness tax structures. (VI)
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MCCCD Official Course Outline:
 
ACC221   19956-99999 Tax Accounting
    I. Introduction
        A. A brief history of the tax laws
        B. Who, when, where must file
      II. Gross income
          A. What is included
          B. What is excluded
          C. How to report gross income on tax forms
          D. Adjustments to gross income
        III. Withholding
            A. Methods and computation
            B. Income subject to
            C. Depositing
          IV. Personal exemptions
            V. Itemized deductions
                A. Types of deductions
                B. Calculating tax liability
                C. Supplemental schedules
              VI. Tax saving devices
                  A. Capital gains
                  B. Tax credits
                  C. Maximum-minimum tax computation
                  D. Income averaging
                  E. Installment sales
                  F. Depreciation methods
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