ACCT 218 - Individual Taxation

Credits: 5
Introduces the principles and problems in tax accounting for individuals. Includes the concepts of gross income, adjusted gross income, taxable income, deductions, exemptions, and credits. Provides experience in completing tax reporting forms manually and with tax return preparation software. Previously ACCT 118.

Enrollment Requirement: ACCT 111 or ACCT& 201 with a grade of 2.0 or higher; or instructor consent.

Course Fee: $10.00

Course Outcomes:
Students who successfully complete this class will be able to:

Analyze and calculate standard deductions and exemptions and items of gross income, business income and expenses, itemized deductions, credits and special taxes.
Prepare income tax forms.
Demonstrate the effective use of tax preparation software.

Program Outcomes

Demonstrate knowledge of accounting and business operations and the ability to correctly use common accounting vocabulary.
Utilize appropriate technology, including word processing and spreadsheet applications, to input, manage, summarize, and interpret business information and to develop forms and reports to assist management in planning operations, identifying potential problems, and controlling business activities.
Prepare individual Federal Income tax returns and utilize computerized tax software.
Demonstrate critical thinking, analytical and quantitative skills in problem solving, decision making, and responsibility by completing assignments independently and/or as a dependable team member.

College-wide Outcomes

Critical Thinking - Critical thinking finds expression in all disciplines and everyday life. It is characterized by an ability to reflect upon thinking patterns, including the role of emotions on thoughts, and to rigorously assess the quality of thought through its work products. Critical thinkers routinely evaluate thinking processes and alter them, as necessary, to facilitate an improvement in their thinking and potentially foster certain dispositions or intellectual traits over time.
Quantitative and Symbolic Reasoning - Quantitative Reasoning encompasses abilities necessary for a student to become literate in today’s technological world. Quantitative reasoning begins with basic skills and extends to problem solving.