BA 268 - Tax Accounting

Description
This is an introductory course in income taxation and tax preparation for accounting majors and other business students. Emphasis is placed on tax issues, return preparation for individuals, and ethical considerations for tax preparers. Primary focus is on the development of working familiarity with federal tax forms, documentation, and solutions to tax problems affecting individuals.

Credit Hours: 4
Contact Hours: 4
Prerequisites/Other Requirements: BA 257 (D- or Higher)
English Prerequisite(s): None
Math Prerequisite(s): None
Course Corequisite(s): None
Academic Program Prerequisite: None
Consent to Enroll in Course: No Department Consent Required
Dual Enrollment Allowed?: No
Number of Times Course can be taken for credit: 1
Programs Where This Course is a Requirement:
Accounting, A.B., Pre-Accounting, A.B. (3+1, Davenport University)

General Education Requirement:
None
General Education Learner Outcomes (GELO):
NA
Course Learning Outcomes:
1. Develop and demonstrate basic tax preparer competency.

2. Learn and understand the ethical responsibilities of a tax preparer.

3. Apply appropriate tax rules to various situations/circumstances.

4. Complete tax return forms and schedules for individuals given various circumstances.

5. Translate or explain what written information means and/or how it can be used.

6. Identify quality sources for data and information pertinent to a problem or issue being examined.

7. Describe the ethical and legal restrictions on the use of recorded, published and/or confidential materials, proprietary information, and intellectual property.

8. Complete work accurately, with attention to detail.
Course Outline:
I. Overview of federal tax system

II. Tax Compliance issues and the IRS role

III. Tax Planning Strategies

IV. Tax exemptions and filing status

V. Gross income and exclusions

VI. Individual deductions

VII. Taxing investments

VIII. Income tax computation and tax credits

IX. Business income, deductions and accounting methods

X. Property acquisitions and cost recovery

XI. Property Dispositions

XII. Overview of Michigan Income tax

Approved for Online and Hybrid Delivery?:
Yes
Instructional Strategies:
Lecture: 50-60%

Discussions: 20-30%

Group work: 10-20%
Mandatory Course Components:
Accuracy and completeness of tax returns

Homework accuracy and completeness

Exam scores
Equivalent Courses:
None

Accepted GRCC Advanced Placement (AP) Exam Credit: None
AP Min. Score: NA
Name of Industry Recognize Credentials: None

Course prepares students to seek the following external certification:
No
Course-Specific Placement Test: None
Course Aligned with ARW/IRW Pairing: N/A

Mandatory Department Assessment Measures:
None

Course Type:
Program Requirement- Offering designed to meet the learning needs of students in a specific GRCC program.
Course Format:
Lecture - 1:1
Total Lecture Hours Per Week: 4
People Soft Course ID Number: 100043
Course CIP Code: 52.9999
Maximum Course Enrollment: 24
High School Articulation Agreements exist?: No
If yes, with which high schools?: NA
Non-Credit GRCC Articulation Agreement With What Area: No
Identify the Non Credit Programs this Course is Accepted: NA

School: School of Business & Industry
Department: Business
Discipline: BA
Faculty Credential Requirements:
Master’s Degree (GRCC general requirement), Other (list below), Professionally qualified through work experience in field (Perkins Act or Other) (list below)
Faculty Credential Requirement Details:
GRCC employs competent faculty members qualified to accomplish the mission and goals of the institution. When determining acceptable qualifications of its faculty, and in compliance with Higher Learning Commission standard 3.c.2, GRCC gives primary consideration to those applicants with an earned Master’s degree or higher in a discipline related field. GRCC also considers professional experiences, professional licensure and certifications, related work experiences in the field and contributions to the teaching discipline.

Those faculty who do not possess the minimum educational requirement of a Master’s degree, either possess required licensure or certification, and/or related work experience (a minimum of 4,000 hours).

Faculty must be familiar with tax rules and regulations and competent in completing the various tax forms and schedules.

Major Course Revisions: N/A
Last Revision Date Effective: 20230216T17:58:17
Course Review & Revision Year: 2027-2028