Income Tax

(ACC 261= BA, CRN 11674)

Fall 200= 8

Instruct= or: Tim Prindle

Office:<= span style=3D'mso-spacerun:yes'> 131

Office P= hone: 433-5081

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Course Description: Income Tax is an introduction to personal income tax. In this course there will be= an emphasis on computation of federal and state income tax and preparation of = tax forms. Prerequisite: ACC 131 or ACC 301.

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Class Meeting Time and Location: This class will meet on M, W and F= from 9:05 to 10:00 AM. (See detai= led Schedule of Class Meetings.) = All class meetings will be held in Room 205.

My Office Hours: Will be distributed separately.&nbs= p;

Mate= rials: = Essentials of Federal Income Taxation for Individuals and Business, 2008 Edition, = by Johnson & Sieg.&nb= sp; Commerce Clearinghouse (CCH).

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&= nbsp; &nbs= p; 4-Function calculator (non-programmable).

Course Competencies: A copy of the course competencies = for ACC 261 is distributed separately for your review. This set of competencies is a list= of the topics that we will study together and that you are expected to have mastery of at the conclusion of the course.

Accommodations Policy: It is the policy of DMACC to accom= modate students with disabilities. A= ny student with a documented disability who requires reasonable accommodation should contact the special needs coordinator at (515) 964-6850 voice or = (515) 964-6810 TTY.

Evaluation: Grades will be based on poin= ts earned.

Exam I	75
Exam II	75
Exam III<= /p>	75
Exam IV	75
Exam V	75
Cum. Proj= ect	200
Chapter Quizzes	100
Homework<= /p>	200
Total Poi= nts	875

Grade	%	Points
A	>93	>744
A-	90-92	720-743
B+	87-89	696-719
B	83-86	664-695
B-	80-82	640-663
C+	77-79	616-639
C	73-76	584-615
C-	70-72	560-583
D+	67-69	536-559
D	63-66	504-535
D-	60-62	480-503
F	<59	<480

Exams: Exams will be constructed in a multiple-choice and/or practice probl= em format Missed exams need to be made up within 2 days of the exam date to av= oid a 50% reduction in points. Se= e the attached Schedule of Class Meetings for a tentative exam schedule. Bring your textbook when you sit f= or an exam; you may use it as a resource if you wish. I will throw out your lowest ex= am score.

Cheating: The policy of this course is to have zero-tolerance for cheating on = any exam or quiz. Students caught cheating will receive zero points on that exam or quiz with no possibility = of retaking it. Those who cheat = will also be referred to DMACC administration for a formal reprimand pursuant to DMACC Educational Services procedures 262 A and B.

Quizzes: There will be a total of ten unannounced quizzes available for those students who attend class. Each quiz will be worth a total of 10 points. The purpose of the quizzes is to e= nable students to demonstrate they have read and studied the textbook chapters. Quizzes also encourage attendance = and are a means for students to earn some pretty easy points. Quizzes cannot under any circumsta= nces be made up if missed. We will= score the quizzes in class immediately after you take them. After I record your score, I will = return the quizzes so you have them for study purposes.

Homework: Homework consists of exercises and problems assigned from each chapter. (See the attached Sc= hedule of Assignments.) Homework is = due to be handed in on the day we review it in class. You can earn up to twenty points p= er chapter for homework completed and handed in when due. Partial credit is available for incomplete homework at the discretion of the instructor but no credit is available for homework not turned in when due. Homework will be reviewed and hand= ed back so you can use it for study purposes for the exams.

Cumulative Project: An out-of-class project is require= d to be completed by each student. It will consist of a comprehensive individual income tax problem. More information will be provided = in the last half of the course.

A= cademic Achievement Center: This is the place where all make-up exams will be offered. = For the Boone Campus, it is located on the first floor across from the library.= Here are some rules to follow when= it comes time to use the Center:

So use the restroom or eat or= drink something before you commence an exam.
For example, don’t go t= o the Center a half hour before they close or you won’t have enough ti= me to finish the exam.

Income Tax

Schedule of Class Meetings

Accounting 261 BA

Fall 2008

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Chpts.	Topics	Lecture/R= ecitation	Exams
--	Introductions, Get acquainted, review syllabus, VITA=	August 25 &nbs= p;	--
1, 2, 3 <= /p> &nbs= p;	Overview of taxation, determining tax, and gross inc= ome inclusions	August 25 – Sept. 10	EI on Sept. 12
4, 5, 6	Gross income exclusions, deductions for AGI and dedu= ctions from AGI	Sept. 15 – Oct. 1	EII on Oct. 3
7, 8, 9	Self-employment, cost recovery and rental activities=	Oct. 6 – 22	EIII on Oct. 24
10, 11, 1= 2 &nbs= p;	Taxable and nontaxable property transactions, NOL &a= mp; tax credits	Oct. 27 – Nov. 10	EIV on Nov. 12
13, 14, 1= 5	Withholding, payroll, C corps, partnerships, S corps=	Nov. 14 – Dec. 5	EV on Friday, Dec. 12; 9:30 – 11:45 AM

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Schedule subject to change.

Income T= ax

ACCT 261= BA

Homework Assignments

Fall 200= 8

Chapter	Problem
1	None
2	Cumulativ= e Problem 2, p. 2-54
3	Comprehen= sive Problem, p. 3-48
4	Cumulativ= e Problem 2, p. 4-52
5	Comprehen= sive Problem 35, p. 5-45
6	Cumulativ= e Problem, p. 6-43
7	Comprehen= sive Problem 31, p. 7-50
8	Comprehen= sive Problem 25, p. 8-40
9	Comprehen= sive Problem 21, p. 9-34
10	None
11	None
12	Cumulativ= e Problem, p. 12-49
13	None
14	Comprehen= sive Problem 26, p. 14-37
15	None

Each chapter’s homework is worth twenty points.<= span style=3D'mso-spacerun:yes'> To earn these points, homework is = due on the day it is reviewed in class. That day will be announced in class.