AC 407 - Personal Taxation

This course introduces students to the fundamentals of personal taxation, focusing on the principles of tax law, income determination, and ethical tax practices. Students will examine the structure of the tax system, calculate gross income and allowable adjustments, and analyze the treatment of self-employment earnings, payroll taxes, property transactions, and capital gains. The course also explores taxation of rental income, royalties, and flow-through entities, as well as retirement income and Social Security. Students will develop the analytical and ethical skills needed for tax preparation and strategic tax planning. Semester Credit Hours: 3.00 Contact Hours: 45/0/0/45 Prerequisite: AC 236 Managerial Accounting. Corequisite: None.