MGMT 345 - Federal Income Taxation

In this course, we will explore concepts that apply to federal income taxation in the United States. Specifically, we will discuss the types of income an individual or business might accumulate, how gross income is calculated, common deductions that are available, and how we arrive at taxable income. We will also review the calculation of tax on each category of income and some common credits that are available to be applied against the tax. We will discuss the governmental institutions that create the internal revenue code and the public policy initiatives that influence the tax code in the US. Additionally, we will discuss the authorities that oversee the enforcement of the Internal Revenue Code and explain how an income tax return is reconciled.

Prerequisites
MGMT 250 Accounting

Credits 4

Compass Attributes
Social Science, Quantitative Analysis