The Ohio State University
Max M. Fisher College of Business
Accounting and Management Information Systems 626: Tax Accounting I
Course Syllabus - Summer 2009 - Tues/Thurs 5:30-7:18 –Schoenbaum 205
Instructor:
Stephanie L. Brewer, CPA, CVA
Office:
434 Fisher Hall
Phone:
614-292-3903 (office) / 937-245-0958 (cell)
E-mail:
brewer.205@osu.edu
Office Hours: Mon/Weds 9:15-10:15; Tues/Thurs 4:15-5:15; and by appointment
Course Materials:
Required - Smith, Raabe, Maloney, 2010 ed. South-Western Federal Taxation: Taxation of Business Entities,
ISBN 0-324-82858-6
Recommended - Smith, Raabe, Maloney, Study Guide, South-Western Federal Taxation 2010: Taxation of
Business Entities, ISBN 0-324-82972-8
Course Description:
This course covers the fundamentals of federal income tax and how it influences taxpayer decisions. Emphasis is
on individuals and businesses organized as proprietorships, but the rules generally applicable to all taxpayers are
covered. Prerequisite: AMIS 521 or equivalent.
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 formulas 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 maters. 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 will
form a solid foundation for further study and practice.
Course Methods:
AMIS 626 is conducted primarily in lecture/discussion format. My job is to help you understand key concepts and
issues. I will explain and illustrate important concepts in a lecture-like format, and I will engage you in dialogue
through answering 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 the assigned problems. You are encouraged to ask
questions and be actively involved in class discussions. Class sessions will be most productive if you come to class
with a basic understanding of the concepts being covered.
While I will not take attendance, 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. Homework will be collected at the
beginning of the class period indicated on the assignment schedule, and quizzes will be given at the beginning of
the class period indicated on the schedule. No accommodations will be made for late arrivals or absences. Regular
class attendance will improve your chances of meeting the course objectives.
Homework:
Homework will be collected at the beginning of the class period indicated on the class schedule. Your two lowest
homework grades will be dropped. If you have to miss a class (excused or unexcused), you will receive zero points
for that assignment, and you may drop that grade. You are free to consult with your peers on the homework
problems; however, each student is responsible for submitting his or her own assignment. If you submit an
assignment for someone not present in class, you will receive zero points for that assignment. You will not receive
any credit for homework submitted without your name.
You are encouraged to attempt problems at the end of the chapters in addition to the problems assigned in class.
Questions will be answered about additional problems if class time permits, but you are free to check your answers
during office hours or by appointment.
Quizzes:
Quizzes will be administered at the beginning of the class period indicated on the class schedule and will typically
last about 15 minutes. Your lowest quiz grade will be dropped. If you are absent from class (excused or
unexcused), you will receive zero points for that quiz, and you may drop that grade. Quizzes are closed-book,
closed-note and will consist of True/False, fill-in-the-blank and multiple choice questions.
Webcast/Case Study:
Each person will view a webcast online and complete a related assignment. This assignment must be done
individually and is mandatory. Additional information will be provided.
Exams:
Three exams will be given on the dates indicated on the assignment schedule. Exams will be non-cumulative.
Exams may consist of True/False, multiple choice, fill-in-the-blank and problems. Exams will test the application
of knowledge acquired from class lectures, reading assignments, homework assignments and class discussions.
You may bring one 8 ½” x 11” sheet with notes to each exam, and this sheet must be turned in with your exam.
Each exam will last one full class period. Exams must be returned following the in-class review to receive credit.
If you miss an exam for a valid reason (e.g., sickness, death in immediate family) and provide sufficient
documentation to support your situation, you will receive an excused absence. Those 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. 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 for the exam.
Course Grade:
There is no extra credit work. Each student will be evaluated on the following elements:
Case Study
Homework
Quizzes
1st exam
2nd exam
Final exam
Total
10%
15%
15%
20%
20%
20%
100%
Your final letter grade will generally be assigned based on the following table:
A
AB+
B
93% and above
90% - less than 93%
87% - less than 90%
83% - less than 87%
BC+
C
C-
80% - less than 83%
77% - less than 80%
73% - less than 77%
70% - less than 73%
D+
D
E
67% - less than 70%
60% - less than 67%
Less than 60%
Grade Disputes:
Any concerns or questions about grading on a quiz or exam must be resolved within one week after the graded quiz
or exam is returned in class. This time frame applies whether or not you were present in class to receive your
graded quiz or exam. Individual grading issues will be handled outside of normal class time.
Notification of Scores and Final Grades:
The results of any graded materials, including final grades, will not be given by the instructor to individual students
via phone, e-mail, or prior to the initial returning of the assignment in class. Final grades will be available online
from the Registrar within one week following the final exam.
Academic Misconduct:
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.
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. All students with a specific
disability are encouraged to contact the Office of Disability Services to explore the potential accommodations
available to them.
Teaching Plan and Assignment Schedule:
The following schedule is subject to change; changes will be announced in class. Homework problems assigned for
grading will be announced in class one class period before they are due.
Date
6/23
6/25
6/30
7/2
7/7
7/9
7/14
7/16
7/21
7/23
7/28
7/30
8/4
8/6
8/11
8/13
8/18
8/20
8/25
Chapter/Topic
Ch 1, Introduction to Taxation
Ch 4, Gross Income
Ch 5, Business Deductions
Quiz (Ch 4 & 5)
Ch 6, Losses and Loss Limitations
Quiz (Ch 6)
Exam Review
Exam 1
Ch 7, Property Transactions: Basis, Gain and
Loss, and Nontaxable Exchanges
Ch 8, Property Transactions: Capital Gains and
Losses, Section 1231, and Recapture Provisions
Quiz (Ch 7 & 8)
Ch 14, Business Tax Credits and Corporate AMT
Quiz (Ch 14)
Exam Review
Exam 2
Ch 11, Partnerships and LLCs
Ch 16, Individuals
Quiz (Ch 11 & 16)
Ch 17, Individuals as Employees and Sole
Proprietors
Exam review
Final exam
Homework Due
(Ch 4) # 2, 5, 8, 9, 10, 14, 21, 23, 24, 27, 32
(Ch 5)
(Ch 6)
(Ch 7)
(Ch 8)
(Ch 14)
(Ch 11)
(Ch 16)
(Ch 17)
Case Study Due