AEM 4531 - Federal Income Taxation

Fall. 3 credits. Letter grades only.

Prerequisite: AEM 3360. Co-meets with NBA 5531.

J. McKinley.

Introductory course in federal income taxation covering structure of present tax law; basis for income tax computations; concepts of gross income, adjusted gross income, deductions, exemptions and credits. The emphasis is on tax questions and problems relating to individuals. Students enrolled in the graduate-level section will be required to do additional tax problems.

Outcome 1: Explore the tax environment, fundamentals of tax planning, measurement of taxable income, taxation of business entities (individuals, corporations and partnerships) and tax compliance.