Oct 25, 2020
ACC 124 - Individual Tax Procedures
Class: 3 Credits: 3
This course is a study of the basic income tax structure from the standpoint of the individual, including the preparation of individual income tax returns.
Prerequisite(s): Take ACC 101 or ACC 111 with a minimum grade of “C”.
- History of the tax system
- Capital Gains and Losses
- Payroll Taxes
- Credits and Special Taxes
- Earned Income Credit, Child Tax Credit, and Education Tax Credits
- Tax forms for a Partnership and Corporation
- Tax Planning
- Prepare Schedules A, B, C, D, E, SE
- Prepare Tax Forms 1040, 1040A and 1040EZ
- Retirement Plans
Textbook information can be found on the Book Inn Web site www.sccsc.edu/bookstore
Computer and Internet Access
An overall grade of C or higher is required for transferability.
A 90 - 100
B 80 - 89
C 70 - 79
D 60 - 69
F 0 - 59
Student Learning Outcomes:
- Summarize and apply the components of an individual income tax return.
- Differentiate between the tax treatment of gross income and exclusions.
- Record business expenses, retirement plans, and employee expenses on tax forms.
- Record itemized deductions and credits.
- Apply various depreciation methods and calculate capital gains and losses.
- Record withholdings, estimated payments and payroll taxes on appropriate tax forms.
- Apply tax concepts to partnerships and corporations.
- Identify effective tax administration and tax planning techniques.
For SCC Online Courses:
If the course you are taking is online, please review the SCC Online Policies that include:
- Required materials for all online courses
- Mandatory Attendance Requirement
- Proctored Exams
Standard SCC Course Policies:
Please review the Standard SCC Course Polices on the following topics:
- Academic Integrity
- Academic Misconduct
- Add/Drop period
- Appeals Process
- Class Attendance
- Classroom Behavior (traditional and online)
- Classroom Conduct/Expectations
- Lab Procedures (general SCC policy regarding this)
- Online Confidentiality
- Services For Students with Disabilities
- Withdrawal Policy
Official Course Syllabus