Chabot College
Fall, 2002
Course Outline for Business 3
INCOME TAX ACCOUNTING
Catalog Description:
3 - Income Tax Accounting
4 units
Analysis of the current federal regulations that affect the income tax liability of
individuals. Emphasis on the Federal rules and differences in the California
Law. 4 hours.
Prerequisite Skills:
None
Expected Outcomes for Students:
Upon completion of the course, the student should be able to:
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demonstrate understanding of the basic consideration of federal and
state individual tax work;
determine individual tax liability;
explain self-employed business reporting requirements;
explain capital gains reporting requirements;
define the ways of minimizing the obligations by proper planning;
contrast the differences between California and federal income tax rules
and regulations.
Course Content:
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Overview of the tax structure
Tax determination
Gross income inclusions
Gross income exclusions and income adjustments
Itemized deductions
Exemptions
Reporting requirements for self-employed taxpayers
Depreciation, cost recovery, depletion, and amortization
Supplemental income activities
Property transactions; recognizing gains and losses
Property transactions; tax treatment of gains and losses
Tax credits
Methods of Presentation:
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2.
Lecture
Discussion
Assignments and Methods of Evaluating Student Progress:
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2.
Typical Assignments:
a. Take home problems
b. Reading assignments
Methods of Evaluating Student Progress:
a. Graded problems
b. Examinations
c. Final examination
Chabot College
Course Outline for Business 3
Income Tax Accounting
Fall 2002
Textbook(s) Typical:
FEDERAL INCOME TAXATION, Langenderfer, Stevenson, Sleg, and Bauer,
Southwestern, 2000
CALIFORNIA TAXES, CALIFORNIA STATE FRANCHISE TAX BOARD, 2001
Special Student Materials:
Calculator
mc 11/26/01
COBUS3