Skip to main content
Navigate Up
Sign In
SMC|Academic Programs|Business Department|Individual Income Taxes

Individual Income Taxes

3 Units
Prerequisite: Accounting 2

Catalog Description:

Internal Revenue Service tax laws and regulations and accounting procedures are studied in this course to enable the tax professional to apply the information to completing federal and California state individual income taxes.

Course Objectives:

Upon completion of the course, students will be able to:
A.    From the standpoint of a tax professional, interpret IRS rules and regulations as they relate to individual income taxes.
B.    Apply the Internal Revenue Code to typical individual income tax situations. 
C.    Analyze and interpret tax court cases.
D.    Research and analyze primary and secondary tax resources. 
E.    Resolve income tax issues.
F.    Apply the skills needed to eventually pass the IRS Enrolled Agents Exam and the tax law part of the CPA exam.

Course Content:
   
9%  Introduction to Federal Taxation.   
8%  Tax Research
9%  Individual Taxation -Overview   
8%  Gross Income   
8%  Gross Income  Exclusions
8%  General Concepts and Trade or Business Deductions
8%  Business Investments, Losses and Passive Activities Losses
9%  Itemized Deductions
8%  Tax Credits
8%  Sale of Property
8%  Tax Free Exchanges
9%  Tax Accounting