AMIS 626/626M
Course Syllabus
Winter 2009
Call Numbers:
00105-4 (AMIS 626)/00106-0 (AMIS 626M) (Tuesday/Thursday 8:30 a.m. – 10:18 a.m.)
Course Title: Tax Accounting 1
Credit Hours: 4
Prerequisites: AMIS 521 or equivalent and Bus Adm. 499
Classroom: SB 0320
Instructor: Karen L. deLaubenfels, CPA
Instructor Contact Information:
Email Address:
delaubenfels_3@fisher.osu.edu
Office:
252 Fisher Hall
Office Phone:
(614) 292-5248
Office Hours:
Tuesday/Thursday, 10:30 a.m. – 11:30 a.m. and
Tuesday/Thursday, 2:15 p.m. – 3:15 p.m. and
By appointment
Class Start/End Dates: Tuesday, January 6, 2009 – Thursday, March 12, 2009
Final Exam: Monday, March 16, 2009, 7:30 a.m. – 9:18 a.m.
Course Materials:
Text: Smith, James E., Raabe, William A., and Maloney, David M, South-Western Federal
Taxation 2009: Taxation of Business Entities, 12th edition, South-Western Cengage
Learning, ISBN-10: 0-324-66051-0 (Required)
Study Guide: Koski, Timothy, Study Guide, South-Western Cengage Learning, ISBN 0-32466220-3 (Recommended)
Reference materials: Primary law sources, internet sites, and commercial research
material, located in university and law school libraries in traditional formats, and in
electronic formats on the OSU library site.
Course Description:
The course involves the study of the fundamentals of the federal income tax, and how it
influences taxpayer decisions. Emphasis is on individuals and businesses organized as
proprietorships, but rules generally applicable to all taxpayers are covered.
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, to give the
student experience in basic income tax preparation, 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.
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 prepare one for the
taking of professional examinations. The concepts and work habits acquired, though, will
form a solid foundation for further study and practice.
Topics Covered:
1.
2.
3.
4.
5.
6.
7.
8.
9.
Tax History and Policy
Gross Income
Business Deductions
Losses, Tax Shelters
Basis, Gain, Loss
Capital and §1231 Gain, Loss
Credits, AMT
Individuals
Proprietors
Course Methods:
While I do not take attendance, you are responsible for everything said in class.
Assignments are detailed on the assignment sheets found on www.carmen.osu.edu.
Because of our limited class time, it is helpful for you to attempt the assigned reading and
homework problems BEFORE the class meeting. In this way, our time can be directed
toward the material that you have found to be the most difficult.
The Tax Return Problem will be done as a group project. Each group will complete a tax
return for an individual who has a sole proprietorship business. Students will be assigned a
workgroup; requests for workgroups can be sent to me via e-mail and should be received by
11:59 p.m. on Saturday, February 14. It is possible that workgroups may need to be
modified. Each group member may also complete a peer evaluation form, which is a way to
provide feedback on your experience with group members. It is possible for peer
evaluations to affect individual group members’ grades on group assignments by up to
10%.
Homework is on the assignment sheets on www.carmen.osu.edu, and is neither collected
nor graded; however, quiz problems will be chosen from among the homework problems.
The quiz problems will have minor differences from the homework problems, and may be
shortened. See Quizzes below.
The Webcast /Case Study will be done individually. Each person will view a webcast online
and write a one-page paper on a related case study. Additional information on this
assignment can be found at www.carmen.osu.edu.
Discussion on Carmen will count for up to 25 points of your grade. Discussion areas will be
available on www.carmen.osu.edu for each chapter covered during the course; each chapter
will have a general discussion area and also a homework discussion area. Areas for
discussion of other topics of interest will also be included. Substantive participation in the
discussion areas will be evaluated. It is expected that each student will post at least five
substantive posts to receive discussion credit.
Quizzes will be given according to the schedule on www.carmen.osu.edu in the Calendar
section, and will consist primarily of homework problems with minor differences. You may
bring to the quiz a 3” x 5” card with pertinent information on it; this card may not contain
homework problem solutions or direct copies of the homework problems, and must be
turned in with your quiz. There will be 9 quizzes, and your 2 lowest quiz scores will be
dropped. There will be no make-up quizzes for any reason; the dropped quizzes
are intended to take care of issues such as illness, family issues, special events,
etc.
The final exam will consist primarily of homework problems with minor differences.
Approximately 10% of the final exam will be new material, covered in class, but not
necessarily homework problems.
Regular class attendance will improve your chances of meeting the course objectives.
Assessment and Grading:
You will be held responsible for everything said in class; if you must miss class, be
sure you get pertinent information from a classmate.
If you discover an error in grading, please report the error within one week of
receiving your graded work. Errors discovered after that time will not be susceptible to
correction in the official grade records.
The number of points for the different types of assignments is given in the chart below:
Item
Tax Return Problem
Points
100
Webcast and Case Study
35
Discussion on Carmen
25
Quizzes (7 @ 30 points each)
210
Final Exam
130
TOTAL
500
Grading will be based upon the number of points accumulated during the quarter. Final
grades will be assigned as follows:
Grade
Percentage
A
93% or above
A-
90% or more but less than 93%
B+
87% or more but less than 90%
B
83% or more but less than 87%
B-
80% or more but less than 83%
C+
77% or more but less than 80%
C
73% or more but less than 77%
C-
70% or more but less than 73%
D+
67% or more but less than 70%
D
60% or more but less than 67%
E
Less than 60%
Students with Disabilities:
If you have a certified disability that is approved for accommodations by the Office for
Disability Services, please notify the instructor immediately so that necessary
accommodations may be provided.
Academic Misconduct:
See the Code of Student Conduct (http://studentaffairs.osu.edu/resource_csc.asp), which is
incorporated herein by reference.