COURSE SYLLABUS – Income Tax Fundamentals
Spring Quarter, 2009, North Seattle Community College
Instructor: Larry Hopt, J.D.
Registration Item # 9418 ACCT 255.D1 online
Course Website:
http://facweb.northseattle.edu/lhopt/acc255online/ACC255HomePage.htm
(There you will find the syllabus, links to online resources, and links to weekly
“lectures. Note that the weekly lectures are being updated. Week One is ready
to go now – 4/4/2009. Weeks Two, Three, etc. will be updated as we progress
through the quarter – be sure to check them at the start of each week!)
Course Discussion Tool: Courseware used is First Class: To access the
courseware please go to http://fc.northseattle.edu. To find out more information
about using and setting up your computer for FirstClass go to the FirstClass Index
page. When installing FirstClass software on your computer please be sure to
complete Step 2 which will install the correct server address in your login screen.
For more information about this go to the First Class Installation page.
Make sure that the logon box for FirstClass has the following:
Address: home.fc
Server:
fc.northseattle.edu
UserID = your first initial and entire last name
(all lower case and one word).
Password = last 6 digits of your Student ID number.
Please note: Student accounts on FirstClass will not be available until the first
day of the quarter. Registering after the first day of the quarter - your account
may take 24 to 48 hours to be activated.
If you have any technical problems, e-mail to distance@sccd.ctc.edu for the
North Seattle Community College Distance Learning Office.
Instructor’s Office: IB 2417B This is in the Business Engineering and
Information Technologies Division (BEIT), on the second floor of the
Instruction Building.
Office Hours:
I have “official” office hours on Mondays &
Wednesdays from 11 am to 1 pm. However, I am on campus many more
hours than the hours listed here. If you want or need to meet in person, and
cannot make one of these times, I’ll be happy to set up an appointment for
other times or days that work for you.
Phone: (206) 528-4529 There is Voice-Mail if I am not able to answer
when you call. I try to check this daily, but may not be able to get back to
you for a day or so.
FAX: (206) 527-3735 Note that this is the fax machine for the whole
Business , Engineering & Information Technologies Division, and your
message will NOT be private.
e-mail: my campus e-mail address is lhopt@sccd.ctc.edu. As with any email that is not encrypted, this message will NOT be private – NSCC
technicians have access at all times, so do not leave any private info.
I usually try to respond to e-mail each day (unless it is a weekend and I am
away). I would expect my maximum response time to be 48 hours.
Class Discussion on FirstClass:
Note - I will be reading and monitoring your posts and the discussions, but
not necessarily responding to each posting. I encourage you to support each
other and exchange ideas and questions amongst the class membership.
Each student will be expected to post to the class accknowledging another
student’s comments.
There will be a series of icons on the FirstClass website, for various topics –
such as “Dependents” or “Standard Deductions” or “Filing Status”, where
you can pose questions to your classmates, or try to get clarification on how
the tax rules work.
Text: This quarter, we will be using “Essentials of Federal Income
Taxation for Individuals and Business,” 2009 Edition, by Linda Johnson &
Herbert Sieg, published by CCH. The ISBN is: 978-0-8080-1965-7. This
book is available in the college bookstore – or you may also be able to pick
it up online or from another source for less money!!
Additional or Substitute Text: IF you have not yet purchased your text, or if
we have any delays in receiving the text from the publisher – this sometimes
happens during a Winter Quarter class, as Congress sometimes changes tax
laws very late in the year – you can download Publication 17 (Your Federal
Income Tax) from the IRS website as a starting point. (www.irs.gov) This
is about 300 pages long, and contains a wealth of information and
instructions.
We will also be using a variety of other publications & forms that you can
download from the IRS website, and handouts that I will be providing you .
COURSE OBJECTIVE: The objective of this course is to introduce the
student to Federal individual income tax law and income tax form
preparation. No previous knowledge of income tax or accounting is
required for this class.
APPROACH:
We will approach these questions from the point of view
of the income-tax practitioner - the preparer. Note that as an introductory
survey course in taxation, it will not be possible to cover every topic in
comprehensive detail.
NSCC GENERAL EDUCATION OUTCOMES MET BY COURSE:
Outcome 1. Think critically in reading and writing.
Outcome 4. Access, evaluate, and apply information from a variety of
sources and a variety of contexts.
READING REQUIREMENTS: All students are expected to keep up with
the reading for this class. We will have at least 100 pages of reading each
week, counting the text assignments, articles, webpages, etc. Please budget
your time so you can read at least 20 pages per day! There will be
numerous other articles, books and websites to refer to. A facility in
English speaking, listening, reading and writing will be essential to
successful completion of this class.
GRADING POLICIES
I have attached a scoring guide which will be used for assigning grades.
1,000 points total are possible, to be earned as follows:
Work-Together Exams. I will give you two work-together exams, that you
will have at least a week in which to complete. You can work on these
together, and I will give you some time in class in which to compare notes
with other students. (150 Points possible for each exam; 300 total)
Final Exam – on campus, or proctored at another location. The last exam
will be on campus (or proctored through a local college testing center – you
will need to make those arrangements). For the final, you will be expected
to complete the exam on your own, with no opportunity for you to talk or
compare notes with other students, although it will be open-book and open
notes. (300 Points possible)
HAND-IN HOMEWORK. There will be several homework assignments to
send in, for a total of 200 points.
On-Line Class Discussions. Each student will be expected to participate
(regularly and substantially) in on-line discussions in the "class discussion
rooms," on the WebCT website. That means at least 3 or 4 "postings" on
the class discussion rooms each week. See each week's assignments for
guidelines on assigned discussion topics. You are also invited to post
comments and questions on an "open-topic" discussion page anytime.
Points Sheet
Exam 1
Exam 2
Exam 3
Take-Home due 5/2/09
Take-Home due 5/30/09
Last Exam on 6/13/09
Subtotal for Exams
POSSIBLE
EARNED
POINTS
POINTS
150
_____
150
_____
300
_____
____________________
600
_____
On-line Class Discussion Rooms
100
Hand-In Homework
POSSIBLE
POINTS
25
25
25
25
25
25
25
25
HW1
HW2
HW3
HW4
HW5
HW6
HW7
HW8
Subtotal for Homework:
Total points possible:
Points EARNED:
200
900
_____
_____
EARNED
POINTS
_____
_____
_____
_____
_____
_____
_____
_____
TOTAL
GRADE:
____
_____
_____
GRADING SCALE:
At the end of the quarter, your total score will be compared to the following
table to determine the grade you have earned for the class. This scale may
require higher scores than other classes you have taken or are taking now.
This reflects the fact that many of the exams/projects in this class are “takehome,” and “open-book” in nature.
Percentage
96 – 100%
95
94
93
92
4.0 Grade Scale
4.0
3.9
3.8
3.7
3.6
91
90
89
88
87
3.5
3.4
3.3
3.2
3.1
86
85
84
83
82
3.0
2.9
2.8
2.7
2.6
81
80
79
78
77
2.5
2.4
2.3
2.2
2.1
76
75
74
73
72
2.0
1.9
1.8
1.7
1.6
71
1.5
70
1.4
69
1.3
68
1.2
67
1.1
No credit is given for ending scores with less than 67%.
ACCT 255.DL1
Individual Income Tax Schedule
This is the tentative schedule for Class Topics (subject to revision)
Spring 2009
WEEK 1
WEEK 2
Material to Read/Prepare/Cover in Class
Class Introductions
Look at www.irs.gov website
IRS instructions & forms
Introduction of CCH Text
Overview of Federal Income Tax System
Super-Basic Tax Formula
Basic Standard Deductions
Personal Exemptions/Dependency Exemptions
“Zero-Tax Bracket” for Standard Deduction & Personal
Exemptions
Who MUST File a 2008 Return??
Graduated Income Tax Brackets
2008 Tax-Rate Schedules based on Filing Status
Comparing Single/Head of Household/Married status
Form W-2 for Wages Income
Form 1099 for Interest Income
Form 1040EZ practice return
Standard Deduction additions for Over 65 and/or Blind
Standard Deduction for Dependents
Phase-down of Exemptions
Requirements for Dependency Exemptions
Qualifying Child (QC)
Relationship Test
Age Test
Residency Test
Support Test
Joint-Return Test
Citizenship Test
Children of Divorced/Separated Parents
Qualifying Relative (QR)
Relationship Test
Support Test
Gross Income Test
Citizenship Test
Joint-Return Test
Qualifying Non-Relative (QNR)
Support Test
Gross Income Test
Citizenship Test
Joint-Return Test
*Local Law Issue
Multiple-Support Agreements – Form 2120 Declaration
Use of IRS Tax Tables for Taxable Income under $100,000
Form 1040A practice return
Week 3
How Credits Are Used Against Income Tax
-Nonrefundable
-Refundable
Credit for Child & Dependent Care Expenses
Qualifying Person
Qualified Expenses
Maximum Qualified Expenses
Joint Filing Requirement
“Earned Income” or “Deemed Income”
AGI determines Credit % (20 to 35%)
Form 2441 practice
Elderly or Disabled Credit – Schedule R
Form 1040
Week 4
Education Credits
HOPE Credit
Lifetime Learning Credit
Phase-Out of Education Credits
Form 8863 practice
Residential Energy Credits
Home Energy Efficiency 10% Credit
Alternative Energy 30% Credit
Foreign Tax Credit, Form 1116
Child Tax Credit
Nonrefundable
Refundable – Form 8812
Retirement Savings Contribution Credit – Form 8880
WEEK 5
“Special Income Issues”
Social Security Income
Unemployment Income
Dividends
Child Support
Maintenance for former Spouse
Tips
Gambling Winnings
Prizes
WEEK 6
Itemized Deductions
Medical Expenses and the Floor !
Sales Taxes
State/Local Income Taxes
Real Estate Taxes
Mortgage Points
Mortgage Interest Expense
Other related Expenses
Form 1040, Schedule A
WEEK 7
Charitable Donations
Theft & Casualty Losses
Employee Business Expenses
Miscellaneous Itemized Deductions and the Floor
Form 1040, Schedule A, Form 2106
WEEK 8
Depreciation Issues
Real Estate
Personal Property
MACRS AcceleratedTables
MACRS Straight-Line
Section 179
“Bonus” depreciation
Vehicle Limitations
Form 4562
WEEK 9
Sole Proprietorship Income or Loss
Hobby-Loss Rules
Self-Employment Taxes
Self-Employed Medical Insurance
Industry Codes
Business Gift rules
Entertainment & Meals rules
Home-Office rules & Limitations
Schedule A, Schedule SE, Form 8829
WEEK 10
Capital Gains & Losses
Short-Term vs Long-Term Rates
Basis Rules
Computation of Gains/Losses
Netting of Gains/Losses
Carry-Over Basis rules
Cap Gain Tax Rates
Schedule D
FINAL EXAM
Saturday, June 13 Noon – 2pm
(unless arranged with me for another date)
STUDENT SUPPORT SERVICES:
Students are encouraged to seek campus support services when necessary to
support their learning and academic progress. Refer to student handbook,
brochures/flyers, or college website for information about:
Educational Access Office (accommodations)
Tutoring Services
Library
LOFT Writing Center Plus
Counseling
Women’s Center
Multicultural Services Office
Wellness Center
POLICY ON COURSE WITHDRAWAL:
The instructor may initiate administrative withdrawals of students who do
not start class during the first week of the quarter, in order to accommodate
other students seeking entry into the class. Official withdrawal at other
times of the quarter is the responsibility of the student.
AMERICANS WITH DISABILITIES ACT:
If you need course adaptations or accommodation because of a disability;
please contact the Educational Access office as soon as possible, and let your
instructor know what accommodations are needed.
“CLASSROOM” RULES:
Please respect the opinions expressed in class by your classmates. If you
disagree with their opinion, state so respectfully, and not as a personal
attack.
Students are expected to comply with NSCC student conduct policy and
procedures. Information on student responsibilities and rights is available at
the following website: www.seattlecolleges.com/services.
ACADEMIC HONESTY: Academic honesty is highly valued at NSCC. A
student must always submit work that represents his/her original words or
ideas.
ACADEMIC DISHONESTY COULD INVOLVE:
1. Having a tutor or friend complete all or a portion of your assignment.
2. Having a reviewer make extensive revisions to an assignment.
3. Copying work submitted by another student.
4. Using information from online information services without proper
citation.
5. Taking exam answers from another student’s paper.
6. Using materials not allowed to answer exam questions.
EXAMINATION CONDUCT: Students are expected to complete
examinations without the unauthorized use of reference materials, notes, or
classmates.
CLASSROOM DIVERSITY STATEMENT: Respect for diversity is a
core value of NSCC. Our college community fosters an optimal learning
climate and an environment of mutual respect. We, the college community,
recognize individual differences. Therefore, we are responsible for the
content and tone of our statements and are empathetic speakers and
listeners.
RESPECTFUL AND INCLUSIVE ENVIRONMENT: The instructor and
student share the responsibility to foster a learning environment that is
welcoming, supportive, and respectful of cultural and individual differences.
Open and respectful communication that allows for the expression of varied
opinions and multicultural perspectives encourages us to learn freely from
each other.
PLEASE READ our rules of "Netiquette and Privacy" outlined here. Also please
read below on how to use the discussion rooms.
Netiquette and Privacy
Words can mean many things and what we intend to say is not always what
others hear. This is especially true of "online communication" during which
other students do not have the opportunity to see your "body language" and
therefore have a greater possibility of misunderstanding what you truly
mean.
Please, follow these guidelines in all your online
responses
and discussion groups.

RESPECT. We would like to suggest respectful exchanges as a basic
ground rule. We feel that informational errors should be pointed outrespectfully (even if stated strongly...). Disagreements that honor
the viewpoints of the various contributors are productive and can
lead to new learning and understanding.

PRIVACY. Keep in mind not only your own privacy rights but others
as well. Do not reveal any information that you deem private.

BE CONSIDERATE of grammatical/spelling errors.

REMEMBER that humor and satire are often misinterpreted online.
Communication is more than words. So, be prepared for some
misunderstanding and requests for clarification.

BE SUPPORTIVE. We are all still learning. Our job is not to judge or
condemn or even praise, although genuine encouragement is a
necessary ingredient. We are here to provide information, to address
topics in a discussion forum, and to provide assistance in helping
each participant use her/his own unique learning style. Reflection
generally precedes growth. So reflect upon what is said, provide
sincere comments, and hopefully, we will all grow.
One good way to avoid problems is to reread your postings before sending
them. Something written in haste may be misread.
Created by Val Donato, Sandra Looper, Diane Hostetler and Tom Braziunas