AC 3290 - Federal Taxation

A study of the composition of the federal tax law as applied to individuals. Topics include filing statuses, exemptions, basis calculations, capital gains and losses, sale of residences. An important component of the course will be the strategies the taxpayer can legally use to evade or postpone the payment of taxes. An introduction to the tax effects of organizing as a proprietorship, partnership, or corporation will be presented. Prerequisites: AC 2210 (4 credits)