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 340 (or equivalent) AND admission to the School of Graduate Studies and Research.

Credits:
(5)

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

Prepare the preliminary actions and documents necessary to prepare income tax returns for business entities, trusts, and estates
Manage and prepare all types of business income. Evaluate the tax treatment of C corporations, S corporations, Partnerships, Trusts, and Estates
Summarize the various retirement plans available to employees
Evaluate the law as it relates to tax credits and deductions available to businesses. Appraise property exchanges as voluntary, involuntary, taxable, or tax-free
Formulate the most common tax planning strategies available to businesses. Set up and evaluate key tax provisions applicable to farmers
Evaluate 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:
2/19/21

Anticipated Course Offering Terms and Locations: