Description
This course provides a broad overview of federal income tax by introducing the basics of tax law and the types of taxpayers; especially focusing on individual taxpayers. Terminology, tax accounting, ethical issues, and professional standards are introduced and emphasized. Students are introduced to the format for the Regulation portion of the CPA exam. Upon completion, students will develop tax planning and tax research skills and will be able to calculate taxable income and deductions. Prerequisite: BAC 242