Fall 2003

Instructor: Alan E. Davis, CPA

Office: B2-24k

Office Hours: Will be announced during the first week of class. Please make a note of them in the spaces provided.

M: __________T: __________ W: __________ R: __________ F: __________

Office Telephone: 751-8711 (with voice mail)

Web Site: http://faculty.ccp.edu/faculty/adavis/

E-mail: adavis@ccp.edu

Textbook

West Federal Taxation Comprehensive Volume 2004

Willis, Hoffman, Maloney, Raabe. Thomson/South-Western. 2004.

Purpose and Scope

This is an introductory course in Federal taxation designed to explore tax law and reporting responsibility as it applies to individuals under the Internal Revenue Code. This course focuses on income tax law and reporting and may, time permitting, provide an introduction to computerized income tax preparation software.

Course Presentation

The course stresses problem solving techniques applied to situations commonly encountered in individual taxation. Sometime may be spent in the computer lab to provide an introduction to CrossTax, a computerized tax preparation software that accompanies the text and can be downloaded to your personal computer.

Home Study

The student should review assigned material, and then solve the assigned problems. Space has been provided on the syllabus to note the problems assigned for homework. A minimum of three (3) hours of home preparation is suggested for each hour of class. Homework assignments will be announced at the beginning of each chapter.

Examinations

Four examinations are planned for the semester. The precise date of each exam will be announced approximately one week prior to the exams administration. Make-up exams will not be given.

Grading

Your course grade will be determined by averaging your three best exam grades.

Collusion and Plagiarism

All work, except where specifically permitted, is expected to be completed independently and reflect your own efforts.

Disabilities

Accommodations will be made for those registered with the Disability Center if I am notified during the first week of class.

Topical Outline

Chapter Topic Assignments

1 An Introduction to Taxation and Understanding the Federal Tax Law

2 Tax Determination; Personal and Dependency Exemptions; An

Overview of Property Transactions

3 Gross Income: Concepts and Inclusions

4 Gross Income: Exclusions

5 Deductions and Losses: In General

Examination #1

6 Deductions and Losses: Certain Business Expenses and Losses

7 Depreciation, Cost Recovery, Amortization, and Depletion

8 Deductions: Employee and Self Employed-Related Expenses

9 Deductions and Losses: Certain Itemized Deductions

10 Passive Activity Losses

Examination #2

11 Tax Credits

12 Property Transactions: Determination of Gain or Loss, Basis

Considerations, and Nontaxable Exchanges

13 Property Transactions: Capital Gains and Losses, Section 1231 and

Recapture Provisions

14 Alternative Minimum Tax

15 Accounting Periods and Methods

Examination #3

Comprehensive Final Examination