William Paterson University
Cotsakos College of Business, Dept. of Accounting & Law
Tax II Syllabus, Spring 2010
1.
Course Title & Number:
Taxation II - ACCT 411, FIN 411
2.
Course Description:
A study of the U.S. Internal Revenue Code (IRC) with emphasis on income taxation of
corporations, partnerships, trusts and estates. Provides practice in the preparation of
tax returns and solution of comprehensive problems.
3.
Course Prerequisite:
Taxation I – ACCT 410, FIN 410
4.
Professor:
Dr. Elizabeth C. Ekmekjian, Esq., CPA
5.
Office and Office Hours:
Valley Road
Room 4063
Hours
Tuesday: 8:30-9:00am (by appointment only); 9:00-9:30 (no
appointment necessary)
Thursday: 8:30-9:00am (by appointment only); 9:00-9:30 and
12:15-12:45 (no appointment necessary)
Additional hours available by appointment
6.
Telephone & e-mail:
E-mail Address
EkmekjianE@wpunj.edu - Best way to reach me!
Telephone #
973.720.3851 – Please do not leave a message unless you are
unable to send an e-mail.
Department Secretary: Ruthina Babb
E-mail Address
babbr@wpunj.edu
Telephone #
973.720.2435
7.
Required Text:
West's Federal Taxation, 2010 Edition, Comprehensive Volume (Willis, Hoffman,
Maloney, Raabe). DO NOT BUY A PRIOR EDITION TEXT.
8.
Recommended Supplemental References:
Study Guide – highly recommended
Tutorials, interactive chapter quizzes and other study materials are at:
http://websites.swlearning.com/cgiwadsworth/course_products_wp.pl?fid=M20b&flag=student&product_isbn_issn=97
80324828610&disciplinenumber=419
Internal Revenue Code (IRC) and Regulations
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9.
Course Objectives:
a. To discuss currently held beliefs of taxation.
b. To distinguish between the statutory, administrative and judicial sources of tax law
and explain each source's relative weight of authority.
c. To locate appropriate tax law sources.
d. To identify and apply tax research procedures (manual and electronic).
e. To communicate results of tax research to a client.
f. To explain the relevance of the accounting period concept, the different types of
accounting periods, and the limitation on their use.
g. To apply cash and accrual methods of tax accounting.
h. To compare, contrast and evaluate the various forms of conducting a business.
i. To explain the tax rules unique to corporations.
j. To compute the corporate income tax.
k. To identify the tax consequences of incorporating a business.
l. To apply the basis rules relevant to shareholders and corporations.
m. To recognize the tax differences between debt and equity investments.
n. To identify and compute earnings and profits of a corporation.
o. To recognize the importance of earnings and profits in measuring the recipient
shareholder's dividend income.
p. To identify the nature and treatment of constructive dividends.
q. To explain the tax consequences of partial and complete liquidations of a
corporation.
r. To identify the tax consequences of corporate reorganizations.
s. To explain the principles and theories of partnership taxation.
t. To describe the tax effects of forming a partnership with cash and property
contributions.
u. To identify and apply methods of determining a partnership tax year.
v. To calculate partnership taxable income and to describe how partnership items
affect a partner's income tax return.
w. To determine a partner's basis in the partnership interest.
x. To explain how liabilities affect a partner's basis.
y. To describe the limitations on deducting partnership losses.
z. To identify the treatment of transactions between a partner and the partnership.
aa.To prepare a corporate tax return and a partnership tax return.
bb.To provide an overview of the taxation of trusts and estates.
cc.To utilize oral and written communication skills.
dd.To understand ethical responsibilities of business professionals.
10. Student Learning Outcomes:
a.
Understand the basic concepts, principles, and methods of corporate and
partnership income taxation and basic concepts of the taxation of estates
and trusts.
b.
Students must be able to demonstrate application of 1. above by preparing a
corporate income tax return and a partnership return.
c.
Develop analytical and communication skills via problem solving, written
assignments and examinations.
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11. Topical Outline of Course Content:
a.
Accounting Periods and Methods
b.
Corporations: Operating Rules, Related Corporations, Organization, Capital
Structure, Distributions, Reorganizations and AMT
c.
Tax Administration and Practice
d.
Working With the Tax Law
e.
Partnerships
f.
S Corporations
g.
Federal Gift and Estate Taxes
h.
Income Taxation of Trusts and Estates
12. Teaching Methods:
This course will be taught a bit differently than the typical lecture. Students
are REQUIRED to be prepared for each class. This means that the chapter to be
covered must be read, all homework problems must be completed BEFORE class.
Completing the homework assignments before a review of the material may be
difficult at first, but do your best! My focus regarding homework is on the effort
you’re giving!
CHAPTER OUTLINES & ON-LINE QUIZZES: Powerpoint presentations for each
chapter are available on Blackboard under the Course Documents tab. On-line
quizzes are available on the text book web page and will assist in your
understanding of the materials.
HOMEWORK: Homework assignments will be announced each week in class
and/or posted on Blackboard. In the event I announce that an assignment will be
collected, you should bring an extra copy with you to class so that you can correct
any errors. Most homework assignments will be completed on-line using Aplia;
instructions on how to use Aplia will be discussed in class.
13. Course Expectations/Policies (IMPORTANT! PLEASE READ!):
a. Assignments and Take-Home Exams:

Take-home exams may be done in a group of up to 4 students.

Any assignment that is more than one page must be stapled.

All written assignments (except for tax returns and tax formula
calculations) must be typed.

Do not use a tax software program to prepare any tax return
assignments unless instructed to do so.

Additional instructions will be provided throughout the semester.
OUCH!
FAILURE TO FOLLOW INSTRUCTIONS ON ASSIGNMENTS/EXAMS:
A five percent penalty will be assessed for each infraction. EXAMPLE: If you forget to
staple your exam and did not type it, you will be assessed a 10 percent penalty!
b.
LATE ASSIGNMENTS/EXAMS: Any assignment that is not submitted on
time will be considered late. In the event you are absent on the day an assignment is
due, you must still submit your assignment (electronic submission is acceptable). An
excused absence does NOT extend the deadline of your assignment.
OUCH!
A twenty-five percent penalty will be applied to your grade for the
first day late. A five percent penalty will be assessed for each day thereafter until the
assignment is received. EXAMPLE: Your take-home exam is due March 1. You miss class
and drop it off at my office on March 2. Your assignment is one day late. If your takehome exam is worth 100 points, your penalty is 25% or 25 points. If you hand in your
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exam on March 3, your exam is 2 days late and your penalty is 30% or 30 points.
OUCH!
I will not accept any assignment more than one week after its due
date. Also, assignments to be submitted on Aplia may NOT be submitted late.
c.
Class attendance, punctuality, interest and involvement are all perceived by
the instructor to be important for satisfactory completion of this course. No more than 2
absences will be permitted without proper consultation with the instructor. Failure to
comply will result in a reduction in your class participation grade and, in some
instances, a final letter grade reduction.
d.
Blackboard: All students are expected to check Blackboard each week for
assignments. Announcements posted on Blackboard will be sent to your WPU e-mail
addresses. Please check your student e-mail.
e.
It is your responsibility to make sure that you have signed in each day. This
must be done during class; NO EXCEPTIONS WILL BE MADE.
f.
If you mark a fellow classmate in when he/she is not in class, you will
receive an absence for that day and be subject to University Policy as it relates to
Cheating!
g.
Distractive practices, such as, tardy entrances, leaving the room while class
is in session, excessive conversation with other students and conducting activities
unrelated to class discussions are not considered acceptable behavior.
h.
No makeup quizzes or exams will be given.
i.
If a student misses one exam without a legitimate excuse, s(he) will receive a
grade of zero for that exam. “I didn’t feel well,” or “I got caught in traffic” are not
legitimate excuses!!!
j.
Cheating Policy: A student caught cheating (including plagiarizing) will be
given a zero (0) for such exam or assignment. Any further action will be taken in
accordance with University policy.
k.
If class must be cancelled for any reason, this information will be sent via email to you at your WPU student e-mail address. Please check your e-mail.
l.
In the event that you miss class, please DO NOT contact me for missed
assignments. It is your responsibility to find out what material was covered and all
homework/exam assignments.
m.
Be prepared. Please bring a calculator, pencils, tax forms etc. to each class
and exam.
n.
NO CELL PHONES OR PAGERS PLEASE! If one goes off in class, be
prepared to sing your favorite song and entertain your classmates.
o.
This course requires a significant time commitment!!! You will be
required to submit an assignment and/or have a quiz/exam almost EVERY week during
the semester. This is not being done to penalize you, but to assist in the learning
process.
14. Grading:
The following grade distribution will be used:
A 100-92
B 85-82
C 75-72
A- 91-89
B- 81-79
C- 71-69
B+ 88-86
C+ 78-76
D+ 68-64
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D 63-59
F 58-0
15. Methods of Student Assessment *SUBJECT TO CHANGE*
a. Homework, Class Participation & Attendance:
 (1) During the semester, you will be asked to submit various chapter
homework assignments. Each assignment will be generally be worth up to .5
points towards your final grade.
4.25%
 (2) You are required to submit a job advertisement, cover letter and resume
(due two weeks after the first day of class). In order to complete this
assignment, you will first have to locate an advertisement (either in the paper
or on-line), for an entry level position to which you may be interested in
applying for. Next, prepare a cover letter in response to the ad and include
your resume. Your submission should include: the ad, cover letter and
resume.
.25%

(3) You are required to attend two Professional Enrichment (PE) activities
OUTSIDE OF CLASS during the semester and submit a one page write-up
for each. The write-up should list the name/date/time of the event, the
name of the speaker(s), what was covered, what you liked, what you
disliked. The write-ups are due within one week after the activity. A late
submission will be penalized as indicated above. My preference is that you
submit a hard copy of the PE activity. Please e-mail only as a last resort (in
order to avoid a late penalty). Each PE write-up is worth .25 points towards
your final grade.
.5%
 (4) Class participation and attendance will be noted based on your
participation in class discussions, presentation of homework
assignments, etc. Each absence over two will result in a reduction of two
tenths of a point from your homework grade; failure to answer an
assigned homework question will result in a reduction of two tenths of a
point from your grade.
b. Projects: Corporate tax return, Partnership tax return, Research
Workshop/Research Project
10%
c. Quizzes: We will have at least four quizzes; I will drop your lowest quiz
grade.
15%
d. Exams (bring pencils and a calculator, no cell phones allowed):
#1 – Thursday March 11, 2010: focus on Chapters 16-20
#2 – Thursday, May 13, 2010: focus on Chapters 21, 22, 27, 28
35%
35%
TOTAL
100%
There is a possibility that a total of three exams will be given instead of two.
This will be discussed during the semester.
*I generally DO NOT give extra credit assignments to boost your grade, so study
hard and be prepared.
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