ACC 224 - Business Taxation

Class: 3 Credits: 3
This course is an introduction to tax reporting requirements and taxation of the proprietorship, partnership, S Corporation, C Corporation, and limited liability company. Some form preparation is required.

Prerequisite(s): Take ACC 124 with a minimum grade of “C”.

Course Topics:

Components of the U.S. Tax Law System
Concept of Gross Income
Business Deductions
Gains and Losses
Components of Property Transactions
Evaluation of Corporations
Principles of Partnerships, S-Corporations and Limited Liability Entities

Textbooks:
Textbook information can be found on the Book Inn Web site

Required Materials:
Computer and Internet Access.

Grading System:
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:

Identify and explain the components of tax as it relates to the U.S. Tax Law and system.
Analyze the impact of taxes on financial statements.
Explain the concept of Gross Income.
Evaluate Business Deductions.
Evaluate the components of Property Transactions.
Identify Losses and loss limitation.
Explain the principles and tax effects of partnerships, S-Corporations and Limited Liability entities.
Identify the comparative forms of doing business.
Evaluate the tax implication of corporations.

For SCC Online Courses:
If the course you are taking is online, please review the SCC Online Course Policies that include:

Identity Verification
Required materials for all online courses
Mandatory Attendance Requirement
Orientation and Support
Proctored Exams

Standard SCC Course Policies:
Please review the Standard Course Policies on the following topics:

Academic Integrity
Add/Drop period
Attendance
Classroom Conduct
Equal Access
IT Access
Online Behavior
Online Confidentiality
Services For Students with Disabilities
Student Concerns
Student Help Services
Withdrawals

Official Course Syllabus
2022-2023