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:

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 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
2023-2024