Jun 19, 2024  
2023-2024 Catalog 
    
2023-2024 Catalog Archived

ACC 124 - Individual Tax Procedures


Lecture Hours: 3 Credits: 3

Description: 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.
Course Topics:
  • History of the tax system
  • Depreciation
  • 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

Textbooks:
Textbook information can be found on the Book Inn website
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:
  1. Summarize and apply the components of an individual income tax return.
  2. Differentiate between the tax treatment of gross income and exclusions.
  3. Record business expenses, retirement plans, and employee expenses on tax forms.
  4. Record itemized deductions and credits.
  5. Apply various depreciation methods and calculate capital gains and losses.
  6. Record withholdings, estimated payments and payroll taxes on appropriate tax forms.
  7. Apply tax concepts to partnerships and corporations.
  8. 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 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


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Official Course Syllabus
2023-2024