Mar 28, 2024  
2019-2020 Graduate Catalog 
    
2019-2020 Graduate Catalog [ARCHIVED CATALOG]

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ACCT 521 - Advanced Tax 1: Business Entities


Description:
Study of principles of federal income taxation of corporations and pass-through and their investors. Coverage includes formation, distributions,
withdrawals, and dissolution. Course introduces income tax issues concerning estates, trusts, exempt organizations, retirement plans, and farmers.

Prerequisites:
Prerequisites: (ACCT 303 or ACCT 340 or equivalent) and admission to the professional tax practice graduate certificate or department permission.

Credits:
(5)

Learner Outcomes:
Upon successful completion of this course, the student will be able to:

  • List the preliminary actions and documents necessary to prepare income tax returns for business entities, trusts, and estates
  • Compute and define all types of business income Homework assignments and examinations. Distinguish the tax treatment of C corporations, S corporations, Partnerships, Trusts, and Estates
  • Summarize the various retirement plans available to employees
  • Apply the law as it relates to tax credits and deductions available to businesses Homework assignments and examinations. Classify property exchanges as voluntary, involuntary, taxable, or tax-free
  • Identify the most common tax planning strategies available to businesses Tax simulations and examinations. Identify and apply key tax provisions applicable to farmers
  • Recall the process to apply for tax-exempt treatment
  • Evaluate a tax-exempt organization’s compliance with tax filing requirements
  • Evaluate a trust or estate’s compliance with tax filing requirements

Learner Outcomes Approval Date:
5/23/19

Anticipated Course Offering Terms and Locations:
Fall Locations Ellensburg, Online, Des Moines, JBLM, Lynnwood, Moses Lake, Sammamish, Pierce County, Wenatchee, Yakima Spring Locations Ellensburg, Online, Des Moines, JBLM, Lynnwood, Moses Lake, Sammamish, Pierce County, Wenatchee, Yakima



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