- Program: Accounting Careers
- Course: Income Tax
- Course #: ACCT2231
- Total Credits: 4
Course DescriptionThis course is an explanation and interpretation of the Internal Revenue Code to assist taxpayers in the preparation and filing of individual, business, and corporate tax returns.
Refer to Course Syllabus for detailed information regarding the requirements and evaluation standards for this course. The Course Syllabus will be distributed the first week of the course.
Hennepin Technical College offers reasonable accommodations to qualified students with disabilities. If you have a documented disability that may require accommodations, contact the college’s Disability Services Director: Sara Laviolette at Brooklyn Park (763-488-2477) or Jean Kreutter at Eden Prairie (952-995-1544).
The following goals will be addressed in the course:
Explain how individual income tax liability is determined
Determine dependency exemptions and filing status
Determine gross income inclusions and exclusions
Classify deductions for determination of adjusted gross income
Compute depreciation and amortization of assets
Calculate travel, entertainment and transportation expenses
Determine itemized deductions and limitations
Compute gain or loss on property dispositions
Apply tax rules for reporting capital gains and losses
Explain tax holding period rules
Calculate refundable and nonrefundable tax credits
Explain tax carryover provisions
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