ACCT 241 - Federal Income Taxation

This course provides basic concepts in federal income taxation, including gross income, exclusions, adjusted gross income, deductions, exemptions, credits, assignment of income, identification of the taxpayer, tax rates, depreciation, and the alternative minimum tax. It also supplies practical exposure in the preparation of personal returns and an introduction to tax research. Business tax topics may include the Michigan business tax, an introduction to Partnership, Subchapter “S,” and corporate taxes.
Prerequisite(s): None
3 credits = 3 lecture