This course presents the hypothesis that no important business or personal decision should be made without a thorough analysis of its tax consequences. The course is consistent with the methodology put forth by the AICPA’s tax curriculum. Satisfactory completion of BBA306 or equivalent is a prerequisite for this course. Completion of a finance course is preferable, but not mandatory. Students will investigate a wide range of related topics including:
- Tax planning and measurement of taxable income
- Property acquisitions, disposals, and nontaxable exchanges
- Taxation of business income
- Taxation of individual income
Students will participate in Forum discussions designed to challenge them to think critically about conceptual and technical tax issues covered in the readings. They will also solve application problems, often requiring calculation in deriving numerical solutions.
Course Learning Objectives
- Discuss a broad range of tax concepts and types of taxpayers, professional standards, and ethics.
- Discuss the economic and social policy issues of taxation, explaining why certain tax policies have evolved, and predicting (reasonably) the direction tax policy will likely take in the future.
- Perform basic tax research and tax planning.
- Critically examine the common ground between financial theory and tax law.
- Analyze the financial and tax implications of numerous business and personal transactions.
- Develop a framework for federal income taxation adaptable to the numerous changes in the tax law.