Taxation of Business and Investment Transactions

2 credits · Owen Graduate School of Management

This course focuses on the fundamental concepts of federal income taxation that apply to business and financial transactions typical of most taxpayers, such as choice of business entity; measurement of taxable income (loss) from operations; acquisitions and dispositions of property; nontaxable exchanges; cost recovery; compensation and retirement planning; and investment and personal financial planning. The objectives of the course are to educate students about the role taxes play in financial and managerial decision-making; provide them with a working knowledge of those principles of tax law that are of wide application and importance; develop their intuition about the likely tax consequences of business and investment transactions; begin developing in them an appreciation of tax planning as a process for maximizing wealth; and give them a good foundation for increasing their tax knowledge through advanced courses, self-education, or on-the-job training. To help students understand and become conversant with the fundamental concepts of federal income taxation, the instructor uses a problem-oriented approach that requires students to apply the more important principles of tax law to discrete factual situations. Prerequisite: Mgt. 6311 or consent of the instructor. [2]