Tax and Regulation

3 Credits · Level: Undergraduate

Introduction to the tax system faced by individuals, business entities and in property transactions in the United States. Topics include the tax environment, tax provisions relevant to employees, business owners, and shareholders, and taxation of gains and losses. Projects facilitate the self-discovery of knowledge and the development of professional skills and attitudes. After completing this course, you will be able to compute an individual’s and business entities’ federal income tax liability and prepare federal income tax returns; understand the basic operating principles that apply to a sole proprietor and how they are reflected on the individual’s tax return; other tax provisions that apply specifically to corporations, partnerships, and S corps, and understand the tax treatment associated with sales, exchanges, and other dispositions of property.