A survey of federal income taxation with emphasis on taxation of individuals and property transactions, and the ethics of income tax accounting.

The tax field is a fruitful and rewarding area within the study of accounting.  The tax law changes almost daily as it is amended to address unique transactions and to meet economic, social, and political needs. The study of taxes blends together accounting, economics, law, and finance concepts. The focus of the course is on the basic concepts of taxation (i.e., those aspects of the system that are stable over time). You must become familiar with, and be able to apply the basic provisions of the income tax law to individuals and property transactions.

By the end of this course, you will be able to:

• Apply the basic principles and concepts of the United States Federal income tax system to the taxation of individuals.
• Recognize the sources of income and their exclusions for taxation purposes.
• Identify and calculate business deductions and losses.
• Calculate individual income taxes.
• Explain and apply the elements of taxation of property transactions, including basis, cost recovery, gains and losses and non-recognition transactions.
• Recognize and identify ethical obligations of a tax practitioner.

This class meets weekly on Wednesday in class. 

My teaching methodology relies on lectures, homework and in class group participation. You may be called upon in class to present solutions to problems assigned for the class. You are encouraged to ask and answer questions. You should prepare for lectures by studying the textbook material and by taking your chapter quiz prior to class. 

A few thoughts regarding the pandemic and its impact on our class: 

• The pandemic has brought with it a great deal of uncertainty. Since we can’t predict how the situation will change, it is important that we remain flexible and adaptable as circumstances evolve. I will keep everyone informed if/when changes to the course are needed. 

• I value frequent, open, honest communication with students. We will employ email, Canvas messaging, and as permitted, texts and group-chats to communicate with each other. All communication will remain appropriate, attuned to the needs of this course, your learning, and respect your privacy. If and, when, you choose to initiate contact with me, I will do my best to respond within 24 hours. 

• I will be happy to see you during my “Office Hours” by appointment. Meetings outside of class can also occur via various electronic modes, such as phone calls or Zoom meetings. 

• If you have any questions about anything related to our course materials or requirements, please reach out to me as early as possible so that I can address your concerns and assist you through whatever situation you have. 

 At the core of the FIU repopulation plan is the health and welfare of our students, our employees and all of those who step foot on our campus. These are the goals of the Panthers Protecting Panthers (P3) program. Every student participating in any FIU Business in-person class does so with the implicit agreement that they fully comply with the guidelines of P3, taking personal responsibility for protecting themselves and others in the community. 

Professors will not be responsible for enforcing social distancing or face covering policies, and they will maintain the right to ask a non-compliant student to leave a particular class and report the noncompliant behavior to the Office of Student Conduct. Faculty also have the right to end a class session any time they feel unsafe due to students not following established classroom health and safety protocols. 

We appreciate your partnership in keeping a safe learning and teaching environment for all. 

As a member of the FIU community you are expected to be knowledgeable about the behavioral expectations set forth in the FIU Student Code of Conduct.

The Disability Resource Center collaborates with students, faculty, staff, and community members to create diverse learning environments that are usable, equitable, inclusive and sustainable. The DRC provides FIU students with disabilities the necessary support to successfully complete their education and participate in activities available to all students. If you have a diagnosed disability and plan to utilize academic accommodations, please contact the Center at (305) 348-3532 or visit them at the Graham Center GC 190.

For additional assistance please contact FIU's Disability Resource Center.

Web Accessibility Statements for Partners and Vendors

• Canvas
• Microsoft
• Google
• Turnitin
• Zoom

Please visit our ADA Compliance webpage for additional information about accessibility involving the tools used in this course.

Florida International University is a community dedicated to generating and imparting knowledge through excellent teaching and research, the rigorous and respectful exchange of ideas and community service. All students should respect the right of others to have an equitable opportunity to learn and honestly to demonstrate the quality of their learning. Therefore, all students are expected to adhere to a standard of academic conduct, which demonstrates respect for themselves, their fellow students, and the educational mission of the University. All students are deemed by the University to understand that if they are found responsible for academic misconduct, they will be subject to the Academic Misconduct procedures and sanctions, as outlined in the Student Handbook.

Academic Misconduct includes: Cheating – The unauthorized use of books, notes, aids, electronic sources; or assistance from another person with respect to examinations, course assignments, field service reports, class recitations; or the unauthorized possession of examination papers or course materials, whether originally authorized or not. Plagiarism – The use and appropriation of another’s work without any indication of the source and the representation of such work as the student’s own. Any student who fails to give credit for ideas, expressions or materials taken from another source, including internet sources, is responsible for plagiarism.

Learn more about the academic integrity policies and procedures as well as student resources that can help you prepare for a successful semester.

Additionally the following two documents should be used by every student in business classes that require individual or group written assignments:

• Certification of Authorship Assignment Cover Page (Individual)
• Certification of Authorship Assignment Cover Page (Groups)

If you are looking for help for yourself or a fellow classmate, Panthers Care encourages you to express any concerns you may come across as it relates to any personal behavior concerns or worries you have, for the classmate’s well-being or yours; you are encouraged to share your concerns with FIU’s Panthers Care website.

Counseling and Psychological Services (CAPS) offers free and confidential help for anxiety, depression, stress, and other concerns that life brings. Professional counselors are available for same-day appointments. Don’t wait to call (305) 348-2277 to set up a time to talk or visit the online self-help portal.

This course has a prerequisite(s). Review the Course Catalog. webpage for prerequisites information.

A grade of "C" or higher in MAC 2233 and ACG 3301 or equivalent, successful completion of entrance exam, 60 credits earne.

Students are expected to:

• Review the getting started page located in the course modules;
• Take the practice quiz to ensure that your computer is compatible with the learning management system, Canvas;
• Operate with integrity in their dealings with faculty and other students;
• Engage the learning material with appropriate attention and dedication;
• Contribute to the learning of others; and
• Perform to the standards set by the faculty. 
• Be active participants in their learning experience by attending class ready to participate in weekly hands on graded activities.
  
• Switch to OFF or VIBRATE all communication devices during class meetings.  Additionally, laptops are to be used during class time only for note taking.
• review and follow the course calendar and weekly outlines;
• complete the weekly quizzes and assignments by the due date specified. No late work will be accepted; 
• submit all assignments by the corresponding deadline

The instructor will:

• respond to emails within 24 hours; 
• grade assignments within 7-10 days of the assignment deadline.

Communication in this course will take place via the Canvas Inbox. Check out the Canvas Conversations Tutorial or Canvas Guide to learn how to communicate with your instructor and peers using Announcements, Discussions, and the Inbox. I will respond to all correspondences within 24 hours.

Keep in mind that your discussion forum postings will likely be seen by other members of the course. Care should be taken when determining what to post.

In order to mitigate any issues with your computer and online assessments, it is very important that you take the "Practice Quiz" from each computer you will be using to take your graded quizzes and exams. It is your responsibility to make sure your computer meets the minimum hardware requirements.

All assessments will auto-submit when (1) the timer runs out OR (2) the closing date/time is reached, whichever happens first. For example, if a quiz has a closing time of 5:00 pm but the student begins the exam at 4:55 pm, the student will only have 5 minutes to complete the quiz.

Assessments in this course are not compatible with mobile devices and should not be taken through a mobile phone or a tablet.