Accounting and MIS 3400: Tax Accounting I
Course Syllabus – Spring 2016
Section 0010 - Monday and Wednesday 11:10 AM
Section 0020 - Monday and Wednesday 12:45 PM
Section 0030 - Monday and Wednesday 4:10 PM
Section 0040 - Monday and Wednesday 5:45 PM
- 12:30 PM
- 2:05 PM
- 5:30 PM
- 7:05 PM
- Converse Hall 0139
- Converse Hall 0139
- Schoenbaum Hall 300
- Schoenbaum Hall 300
Instructor, first half of semester:
Office:
Phone:
E-mail:
Office Hours:
Jeff Hoopes
448 Fisher Hall
614-688-8679 (office)
hoopes@fisher.osu.edu (preferred method of contact)
2:30 PM to 3:30PM Wednesday
Instructor, second half of semester:
Office:
Phone:
E-mail:
Office Hours:
Stephanie Lewis
342 Fisher Hall
614-292-3903 (office)
lewis.1819@fisher.osu.edu (preferred method of contact)
2:30PM to 3:30PM Wednesday
TA:
Austin Johnson
TA e-mail:
johnson.6694@osu.edu
Location:
011 Fisher Hall (outside of room)
Tutor hours:
By appointment
Note: Appointments on the day of exams and requests for appointments without a 24 hour notice may not
be accommodated.
Course Materials:
Required textbook - Hoffman, Young, Raabe, Maloney and Nellen, 2016 ed. South-Western Federal
Taxation 2016: Individual Income Taxes, 39th Edition
There are at least two purchase options:
1. You can order the textbook bundled with CengageNow or you can purchase only Cengage Now acesss,
which includes access to a digital copy of the textbook (at a slightly lower price). You can find these
purchase options by entering the ISBN 978-1-3057-7626-5 at the following URL,
http://www.cengagebrain.com.
2. You can purchase the textbook at the university bookstore.
Note that you MUST purchase a current copy of the textbook and have a valid access code to
CengageNow. CengageNow access cannot be purchased separate from the digital textbook.
The exams are open-book, open-note, but not open computer/tablet/phone, so you will need to either print
the applicable chapters of the e-book for the exam or have a printed copy of the textbook if you wish to use
this resource.
Course Description:
This course covers the fundamentals of federal income tax. Emphasis is on individuals and businesses
organized as proprietorships, but many rules generally applicable to all taxpayers are covered.
Prerequisite: AMIS 3200 (521) (Intermediate Financial Accounting) or equivalent.
A Team Taught Course:
This course will be taught by Jeff Hoopes and Stephanie Lewis. In many respects, their teaching style will
be the similar. However, differences will exist. We are closely coordinating the material we teach, have the
same rules, and will both be mutually responsible for assigning a final grade.
Course Objectives:
This course is designed to acquaint the student with the workings and concepts of the federal tax law,
especially as it pertains to individuals and business entities and to introduce the student to the workings of
the U.S. tax system. Emphasis will be on learning the concepts underlying the tax law, using the current
tax formula and its elements, applying tax law to decision models and incorporating tax planning principles
into decision-making opportunities. Given that ignorance of the tax system comes with considerable
financial cost, this course should be of interest to anyone that prefers having more wealth rather than less.
Students are assumed to be interested in becoming business advisors, with an emphasis on financial and
accounting subject matters. No previous tax education is assumed. The course will not turn the student into
a tax expert, nor is it designed to completely prepare one for the CPA exam.
Course Methods:
AMIS 3400 is conducted primarily in lecture/discussion format. Our job is to help you understand key
concepts and issues. We will explain and illustrate important concepts in a lecture-like format, and we will
attempt to engage you in dialogue through answering and asking questions and working through problems
in class. Your job is to be prepared for every class by reading (in advance) the relevant chapter and
completing any assigned problems. Class sessions will be most productive if you come to class with a
basic understanding of the concepts being covered. In-class quizzes will help sharpen your incentives to
come to class prepared, both having reviewed material previously covered, and having read through the
text in advance. Lecture time is intended to help you focus on the details and technicalities needed to
understand and retain the information. You are encouraged to ask questions and be actively involved in
class discussions. Due to the need to clear out the room for the next class, there will be no time to ask
questions after the lecture has ended.
You are responsible for everything said in class (in addition to the required reading and assignments). If
you miss class, be sure to get the notes from a classmate. No accommodations will be made for late
arrivals or absences. Regular class attendance will improve your chances of meeting the course objectives,
doing well on exams, and being a useful and productive member of society.
Taxes are complicated:
Taxes are complicated. Our class will hopefully not be. However, because of the technical and
challenging nature of the course, it is important that students stay up to date on assignments, reading, and
understanding. It will simply not work to come to class, breeze through homework assignments, and
expect to cram the night before the exam. You simply cannot do it. Don’t try. Every year, students do try,
and fail, using the “breeze and cram” method. Don’t be one of those failures.
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Course Communication:
Course information and assignments will be communicated via Carmen and university e-mail, so it is
important that you regularly check your accounts. You can assume that we will take us at least 24 hours to
respond to an email, so, emails sent minutes before an answer is needed (i.e. five minutes before a
homework assignment is due) may not yield a useful response.
Professionalism/Participation:
Attendance and being actively engaged in class is expected in the business world and it is expected in this
course. This objective of this course is not merely to instill tax knowledge, but, help prepare you to
communicate and engage in the real business world. Given this objective, you are expected to respond to
and ask questions. We will routinely ask questions of the class. Responding with the “right” answer is not
the objective, but rather engaging and learning together. Overcoming inhibitions relative to speaking in a
group will help you in this class, and in life, and will help improve your grade. We reserve the right to
cold-call students in class. Be prepared, on task, and listen.
Behaving as a professional is expected in this course. Phones must be silent during lectures. The laptop
policy of the class will be determined by the way in which we see laptops being used in class. Initially,
you may use them to take notes, etc. If they are creating a distraction, they will be banned. 1 Students
creating a distraction for others will be asked to leave the classroom.
Lack of professionalism and lack of preparedness will be considered on a student-by-student basis. Failure
to attend class and interruptions of class by arriving late and/or leaving early, talking, or other
disruptive/unprofessional behavior will result in a reduction of the total possible points in determining your
final grade. All point reductions are at our sole discretion and are final.
In Class Quizzes:
We will occasionally have in-class, unscheduled quizzes. There will be 10 throughout the semester. Some
may be as simple as writing your name down. Some may require substantial calculations based on material
we have covered in class and will mirror the rigor of questions you can expect on the test. Your top 8
quizzes will count toward your final grade. There will be no retakes of quizzes, and if you are absent or late
to class the day of a quiz, you will receive no credit for that quiz. Unless you have prior approval to attend
a different section of the class on the day of a quiz, you cannot take the quiz in a different class section.
Quizzes may not be given on the same day for all sections, and the quizzes administered in each section
may well not be the same.
Homework:
Most graded homework assignments will be administered online using CengageNow. These assignments
are technical in nature. The homework assignments must be completed on your own without assistance
of any individual. You may use your textbook and class notes. The individual homework assignments are
to be completed online using CengageNow by 11:55 PM on the due dates listed on the assignment
schedule (generally Saturdays). Instructions for signing up for a CengageNow account are provided on the
final page of this syllabus.
All online assignments completed with a score of at least 60% will receive full credit; assignments with
fewer than 60% will receive no credit. You will get four attempts to complete each homework assignment.
If you are unable to submit your homework ON TIME and electronically, no credit will be given for the
1
If you plan on succeeding in the business world, you will frequently attend meetings with a laptop; therefore, you must learn to
stay on task, despite having a laptop in front of you.
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assignment. No hard-copy submissions will be accepted and make-up assignments will not be given under
any circumstance. While you will receive full credit for getting 60% on the homework, understanding only
60% of the material will not bode well for your exam score. And, on the exam, you will not get four
chances.
Your lowest homework grade will be dropped. If you miss a homework deadline for any reason, you will
receive zero points for that assignment, and you may drop that grade, and no others. Please plan ahead if
you are going on trips, etc., and plan to submit the homework ahead of time.
We may assign homework for in-class discussion. These assignments will generally not be collected.
However, we reserve the right to collect assigned problems during the semester. Failure to vigorously
attempt the homework problems will not only affect your exam performance, but it may also cause you to
lose points from the participation portion of your final grade. Determination of what constitutes an
adequate attempt of assigned problems is left to our sole discretion.
There is no reason everyone in the class should not get 100% of the points on homework. Yet, in past
semesters, not having completed all the homework versus having completed all the homework has made a
substantial difference in students’ grades, much to the amazement of students at final grade time. Don’t be
amazed. Just do the homework.
Exams:
Two exams will be given on the dates and times indicated on the assignment schedule. The exams will test
the application of knowledge acquired from class lectures, reading assignments, homework assignments
and class discussions. You may bring your printed textbook and class notes to the test (no electronic
devices allowed). However, the test will be designed so that you will simply not have enough time to look
up the answers to every question. You will not have time to look up the answers to all the questions on
the exam, and students who try routinely perform poorly on the exam.
If you miss an exam for a university-excused absence (e.g., severe sickness, death in immediate family)
and provide sufficient documentation to support your situation, presumably beforehand, you will receive an
excused absence. Absences for any reason not listed above must be approved by the instructor
conducting lectures in advance, in writing, in order to be treated as an excused absence. Vacations do
not constitute a valid reason for missing an exam, and you must take the final exam on the date/time noted
on the syllabus. Those very few (if any) students receiving an excused absence will be given a make-up
exam. The make-up exam will be scheduled within one week of the original exam date. Make-up exams
may be different than the exams given during the normally scheduled time and may be more difficult than
the original exam. If you receive an excused absence from the final examination, you will receive an
incomplete grade until you complete a make-up exam. Unexcused absences from exams will result in a
grade of zero, which will devastate your final grade. The key is to communicate. If something comes up,
let us know.
Tax Return Project:
Students will be required to complete, in groups of up to 3, a tax return, based on information you will be
provided with. The goal of this assignment is to familiarize students with tax returns in general. More
information will be provided throughout the semester on this assignment. The final tax return will be due
by the tax return filing deadline, as per the Internal Revenue Code. A portion of the assignment may be
due at an earlier date.
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Course Grade:
NO EXTRA CREDIT WORK WILL BE ASSIGNED UPON THE REQUEST OF A STUDENT. We
reserve the right to give out extra credit for anything. However, if you ask for extra credit, you will not
receive it.
Your final grade in this course will be determined by the total points you earn. The maximum points you
can earn from each are as follows:
Professionalism/Participation
Quizzes
Homework
Tax Return
Test 1
Test 2
Total
10 points
25 points
50 points
15 points
50 points
50 points
200 points
These points will be used to rank-order you relative to your peers. Final grades will be determined based
upon a student’s relative performance to his or her peer group and without regard to the percentage of total
points earned. Following the first exam, students will be told their ranking in the class, and an approximate
grade they would be assigned if the course ended that day.
You will note that half of the grade is comprised of the two tests. As such, to reiterate, it will simply not
work to try to cram for the test.
Any student who is routinely absent from class or fails to complete the final exam for unexcused reasons
may receive a final grade of “E,” regardless of the student’s performance on other graded material.
Grade Questions:
It is your responsibility to ensure grades reflect your score on any particular assignment. Any concerns or
questions about grading on an exam must be resolved within one week after the graded exam is returned in
class. These disputes must be submitted IN WRITING to the instructor. This time frame applies whether
or not you were present in class to receive your graded exam. Individual grading issues will be handled
outside of normal class time. Regrading of an exam may result in a positive or negative adjustment to the
previous score.
Notification of Scores and Final Grades:
The results final grades will be available online from the Registrar within one week following the end of
the semester.
Cheating:
Academic misconduct will not be tolerated. According to University Rule 3335-31-02, all suspected cases
of academic misconduct will be reported to the Committee on Academic Misconduct. This includes
receiving assistance on ANY graded assignment from any outside source or individual other than your
instructor.
Restricted and Permitted Course Materials:
Use of inappropriate study materials, including previously prepared solutions and copies of (or files
containing) homework and/or test questions used during previous terms compromises the concept of equal
opportunity for all students and therefore is prohibited. Be careful, as the tax law changes on a year to year
basis, and, thanks to our beloved Congress, what was a correct answer last year may well not be correct this
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year. You may use materials that generally are available to all students provided that they maintain the
spirit of the learning objectives. Using material provided by a textbook manufacturer intended for
instructor use only, or anything a reasonable individual would construe as unreasonable, will be treated as
cheating.
Materials distributed to students via Carmen or in class may be used only by students enrolled in AMIS
3400 this semester. You may not distribute any of these materials to any others at any time, or you will be
subject to disciplinary action.
Office Hours:
Professor Hoopes will have his office hours at 2:30 PM to 3:30PM on Wednesday through the end of
February. Professor Lewis will have her office hours 2:30 PM to 3:30PM on Wednesday beginning March
9th . It is your responsibility to keep up with the course material and to ask questions in a timely manner.
Please keep in mind that our time is not a substitute for completing the required readings or studying. In
consideration of other students’ needs, you should limit your visits during office hours to 10 minutes.
Office hours are not personal tutoring sessions, but rather, opportunities for specific questions to be
answered in a more private setting. Use of office hours may count for, or against, a student’s
Professionalism/Participation grade.
Tutor Hours:
The TA will be available by appointment. You may consult with the TA about what is covered in class, get
help on homework, and generally learn about taxes. Appointments must be made at least 24 hours in
advance (by e-mail) and will be subject to the TA’s availability and class schedule.
Disability Services:
The Office of Disability Services verifies students with specific disabilities and develops strategies to meet
the needs of those students. Students requiring accommodations based on identified disabilities should
contact the instructor at the beginning of the quarter to discuss his or her individual needs.
Disenrollment:
University Rule 3335-8-33 provides that a student may be disenrolled after the third instructional day of the
quarter, the first Friday of the quarter, or the student’s second class session of the course, whichever occurs
first, if the student fails to attend the scheduled course without giving prior notification to the instructor.
Campus Safety:
Transportation across campus is offered by the OSU Dept. of Public Safety. Service is available between 7
PM and 3 AM during all semesters and during academic breaks except holidays. Call 292-3322 to schedule
a pickup. You should give at least one hour notice. http://www.ps.ohio-state.edu/sss/escort_info/
Teaching Plan and Assignment Schedule:
The following schedule is subject to change; changes will be announced in class and posted on Carmen,
and will be made well in advance of the actual class being changed. Items listed in the assignment column
of this schedule are action items necessary to prepare for class on the corresponding day.
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Class #
Day
Date
Chapter/Topic
Reading
Assignment
1
Mon
11-Jan
Course Introduction / Introduction to Taxation
2
Wed
13-Jan
Part of Ch2, Ch 3, Tax Formula and Tax Determination
Chapter 1
Ch 1, Ch 2 Sec
2-1, & Ch 3
Lecturer
Homework #
Homework due
(at 11:55 PM)
Hoopes
Hoopes
None
Mon
18-Jan
Martin Luther King Day - No Class
goo.gl/1Slhbo
3
Wed
20-Jan
Ch 3, Tax Formula and Tax Determination
Chapter 3
Hoopes
4
Mon
25-Jan
Ch 3, Tax Formula and Tax Determination
Chapter 3
Hoopes
5
Wed
27-Jan
Ch 4, Gross Income and Inclusions
Chapter 4
Hoopes
6
Mon
1-Feb
Ch 4, Gross Income and Inclusions, Ch 5
Chapter 4, 5
Hoopes
7
Wed
3-Feb
Ch 5, Gross Income: Exclusions
Chapter 5
Hoopes
8
Mon
8-Feb
Ch 5, Gross Income: Exclusions
Chapter 5
Hoopes
9
Wed
10-Feb
Ch 6, Deductions and Losses: In General
Chapter 6
Hoopes
10
Mon
15-Feb
Ch 6, Deductions and Losses: In General, Ch 7
Chapter 6, 7
Hoopes
11
Wed
17-Feb
Ch 7, Deductions and Losses: Certain Business Expenses and Losses
Chapter 7
Hoopes
12
Mon
22-Feb
Ch 10, Deductions and Losses: Certain Itemized Deductions
Chapter 10
Hoopes
13
Wed
24-Feb
Ch 10, Deductions and Losses: Certain Itemized Deductions
Chapter 10
Hoopes
None
14
Mon
29-Feb
Test 1 in Class
15
Wed
2-Mar
Ch 9: Deductions: Employee and Self-Employed Related Expenses
Chapter 9
Lewis
3/5/16
16
Mon
7-Mar
Ch 9: Deductions: Employee and Self-Employed Related Expenses
Chapter 9
Lewis
17
Wed
9-Mar
Ch 13, Tax Credit and Payment Procedures
Chapter 13
Lewis
Mon
14-Mar
Spring Break - No Class
goo.gl/Jrg9z3
Wed
16-Mar
Spring Break - No Class
goo.gl/Jrg9z3
18
Mon
21-Mar
Ch 14, Property Transactions: Determination of Gain or Loss
Chapter 14
Lewis
19
Wed
23-Mar
Ch 15, Property Transactions: Nontaxable Exchanges
Chapter 15
Lewis
20
Mon
28-Mar
Ch 15, Property Transactions: Nontaxable Exchanges
Chapter 15
Lewis
21
Wed
30-Mar
Ch 16, Property Transactions, Capital Gains and Losses
Chapter 16
Lewis
22
Mon
4-Apr
Ch 16, Property Transactions, Capital Gains and Losses
Chapter 16
Lewis
23
Wed
6-Apr
Ch 8: Depreciation, Cost Recovery, Amortization and Depletion
Chapter 8
Lewis
24
Mon
11-Apr
Ch 8: Depreciation, Cost Recovery, Amortization and Depletion
Chapter 8
Lewis
25
Wed
13-Apr
Ch 11, Investor Losses
Chapter 11
Lewis
26
Mon
18-Apr
Ch 11, Investor Losses
Chapter 11
Lewis
27
Wed
20-Apr
Ch 17, Property Transactions: Section 1231 and Recapture Provisions
Chapter 17
Lewis
28
Mon
25-Apr
Final exam - No Class (7:40pm – 9:40pm, Dreese Lab, room 113)
Homework #1
1/23/16
Homework #2
1/30/16
Homework #3
2/6/16
Homework #4
2/13/16
Homework #5
2/20/16
Homework #6
3/12/16
None
Homework #7
3/26/16
Homework #8
4/2/16
Homework #9
4/9/16
Homework #10
4/16/16
None