acc547 | Graduate

Taxation

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In this course, students develop an understanding of the federal income tax law and its application to individuals, partnerships, and corporations. Topics include tax entities, property transactions, calculating basis, gains and losses, alternative minimum tax, S corporations, and partnerships.

This graduate-level course is 6 weeks This course is available to take individually or To enroll, speak with an Enrollment Representative.

Course details:

Credits: 3
Duration: 6 weeks

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    Introduction to Federal Tax Law: Overview of Tax Sources and the US Tax System

    • Describe the various tax law sources.
    • Differentiate between federal, state, and local taxes.
    • Calculate individual taxpayer's income taxes payable or refund.
    • Discuss Professional Responsibility and Ethics.

    Individual Taxation Basics

    • Identify components of gross income.
    • Determine adjusted gross income and tax deductions.
    • Review Employee Compensation.
    • Calculate itemized deductions and tax credits.

    Property Dispositions and Tax-Free Exchanges

    • Evaluate property transactions and select appropriate depreciation methods.
    • Apply special expensing and limits of depreciation provisions.
    • Compute capital gains and losses on dispositions.
    • Apply tax treatment for tax-deferred exchanges and dispositions
    • Discuss common property transaction issues and treatment.

    Business Expenses and Introduction to Business Taxation

    • Determine the criteria, limitations, and timing of business deductions.
    • Explain the tax treatments of various business entity forms.
    • Determine taxable income and income tax liability for Sole Proprietorships, S Corporations, Partnerships, and C Corporations.

    Taxation of Business Entities

    • Calculate earnings and profits for corporations and determine corporate ability to pay dividends.
    • Calculate shareholder's’ basis in S corporation stock.
    • Calculate gain, loss, and basis consequence of liquidating and non-liquidating partnership distributions.
    • Discuss Special Topics in Business Taxation.

    Tax Planning and Transfer Taxes

    • Apply appropriate estate tax planning strategies to fit taxpayers’ needs.
    • Apply use of trusts in estate planning.
    • Evaluate the use necessity of the fiduciary tax return.
    • Compute federal estate and federal gift taxes.
    Tuition for individual courses varies. For more information, please call or chat live with an Enrollment Representative.

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    Teacher Rate: For some courses, special tuition rates are available for current, certified P-12 teachers and administrators. Please speak with an Enrollment Representative today for more details.

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    The University of Phoenix reserves the right to modify courses.

    While widely available, not all programs are available in all locations or in both online and on-campus formats. Please check with a University Enrollment Representative.

    Transferability of credit is at the discretion of the receiving institution. It is the student’s responsibility to confirm whether or not credits earned at University of Phoenix will be accepted by another institution of the student’s choice.