FEDERAL TAX LAW

This syllabus was developed for online learning by MeLinda Swigart. MBAA_667_Online_Syllabus_0516.pdf

MBAA 667 Federal Taxes

Online Course Syllabus

Credit Hours: 3 Delivery Method: Online (Internet /Canvas)

Required Course Materials

Pope, T. R., Rupert, T. J., & Anderson, K. E. (2016). Prentice Hall's

Federal Taxation 2016 Comprehensive (29th ed.). Upper Saddle River, New Jersey: Prentice Hall.

ISBN: 978-0-134-20642-4

Suggested Supplemental Materials

American Psychological Association. (2010). Publication manual of the

American Psychological Association (6th ed.). Washington, DC: Author.

ISBN: 978-1-4338-0561-5

(APA website: http://www.apastyle.org/manual/index.aspx)

Course Description This course examines the application of federal taxes as they apply to individuals, partnerships, and corporation. The understanding of federal tax laws allows the firm (sole proprietorship, partnership, or corporation) to make spending and investment decisions that ultimately will help realize the financial and other goals of the firm. This course will address such topics as; tax authorities, tax planning and strategies, individual incomes taxes, corporation income taxes, and partnership income taxes. Prerequisite(s): MBAA 517

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Course Goals This is an accounting specialization course for the Masters of Business Administration in Aviation (MBAA) degree program. The course is designed to provide the student with an understanding of federal taxes as they apply in the business setting. Learning Outcomes Upon successful completion of this course, the student will be able to:

1. Understand and discuss federal taxes, the IRS, tax strategies, and tax authorities. 2. Analyze individual income taxes, income, AGI deductions, and exclusions. 3. Analyze Business income, deductions, and accounting methods. 4. Analyze property acquisition, property dispositions, and cost recovery. 5. Evaluate the forming and operating of partnerships. 6. Evaluate the disposition of partnership interests and partnership dispositions. 7. Analyze corporate formations and operations. 8. Evaluate corporate non-liquidating and liquidating distributions. 9. Demonstrate appropriate and effective research skills in federal taxation and be able to

communicate the results (oral and/or written) in this course. Grading These are the major assignments in the course and will be the basis for evaluation according to the grading scale shown in the table below.

Course Grade Scale Evaluation Items & Weights

90 – 100% A Discussions 20%

80 – 89% B Research Problems 20%

70 – 79% C Homework 20%

0 – 69% F Quizzes 20%

Final 20%

Total 100%

Discussions Discussions help you sharpen your critical thinking and written communication skills. It is highly recommended that you submit your initial post at least two days prior to the end of the module. Posting in a timely manner offers your classmates sufficient opportunity to respond to you in the Discussion Board. For full credit, respond to at least two of your classmates’ posts by the posted due date. A grading rubric outlining the criteria by which you will be graded is included in the course.

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Research Problems A large percentage of your grade will come from research problems designed to provide you with hands-on scenarios that help to bridge the gap between concept and application. Each research problem has unique requirements detailed within the assignment. For full credit, each research problem must be submitted by the posted due date, unless other arrangements have been made with your instructor. Grading rubrics outlining the criteria by which you will be graded are included in the course. MyAccountingLab®: Homework This Canvas course is paired with the Pearson MyAccountingLab® user interface. Various homework assignments have been incorporated throughout in order to provide you with additional resources and adaptive activities to reinforce the lessons covered in each module. For full credit on each homework assignment, be sure to complete by the posted due date, unless other arrangements have been made with your instructor.

• Note: The MyAccountingLab: Study Plan assignments are designed to help you prepare for homework and quizzes. While these activities are ungraded, you are required to complete at least 10% of the study plan before you will be able to access the next quiz.

Final Examination Each student is expected to complete a final examination covering the learning objectives from Modules 1 through 8 and all course learning outcomes. The exam is administered online, has a time limit of 2 hours, and must be completed once it has been launched. It is comprised of four randomly selected multiple choice and short answer scenarios. The maximum possible score is 100. The score contributes 20% of the course grade. Additional Information Library Embry-Riddle Aeronautical University has one of the most complete library collections of aviation-related resources in the world.

• Hunt Library Worldwide: Information, Services, Help

o Library Basic Training o Ask-a-Librarian

Contact Information • Hours: Mon-Thu. 8a.m.-10p.m., Fri. 8a.m.-6p.m., Sat 12p.m.-6p.m., Sun 2p.m.-10p.m. EST

• Telephone: 1-800-678-9428 or 386-226-7656 • Email: [email protected]

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RefWorks RefWorks is an online database tool that can manage references and citations from almost any source. It provides specific guidance on how to collect and use references, create bibliographies, and write research papers. You may access it through this ERAU organizational login link when signed into ERNIE or directly from the RefWorks website (http://www.refworks.com). A different link must be used for off-campus access (see these instructions). RefWorks requires users to create a RefWorks-specific username and password. Please contact the Hunt Library if you have any questions. Course Policies Academic Integrity Embry-Riddle is committed to maintaining and upholding intellectual integrity. All students, faculty, and staff have obligations to prevent violations of academic integrity and take corrective action when they occur. The adjudication process will involve imposing sanctions which may include, but are not limited to, a failing grade on the assignment, a failing grade in a course, suspension or dismissal from the University, upon students who commit the following academic violations:

1. Plagiarism: Presenting the ideas, words, or products of another as one’s own. Plagiarism

includes the use of any source to complete academic assignments without proper acknowledgment of the source. Reuse or resubmission of a student’s own coursework if previously used or submitted in another course, is considered self-plagiarism, and is also not allowed under University policy.

2. Cheating: A broad term that includes, but is not limited to, the following:

a. Giving or receiving help from unauthorized persons or materials during examinations. b. The unauthorized communication of examination questions prior to, during, or

following administration of the examination. c. Collaboration on examinations or assignments expected to be, or presented as

individual work. d. Fraud and deceit, that include knowingly furnishing false or misleading information or

failing to furnish appropriate information when requested, such as when applying for admission to the University.

Note: The Instructor reserves the right to use any form of a digital method for checking

plagiarism. Several electronic systems are available and other methods may be used at the Instructor’s discretion. Online Learning This course is offered through Embry-Riddle Online (Canvas) and runs nine (9) weeks. The first week begins the first day of the term and ends at midnight EDT/EST (as applicable) seven days later. Success in this course requires in-depth study of each module as assigned, timely completion of assignments, and regular participation in forum discussions.

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Late work should be the exception and not the rule and may be downgraded at the discretion of the Instructor if accepted at all. Unless all work is submitted, the student could receive a failing grade for the course. Extensions may be granted for extenuating circumstances at the discretion of the Instructor and only for the length of time the Instructor deems appropriate. The most important element of success in an online course is to communicate with your Instructor throughout the term. Conventions of “on-line etiquette,” which include courtesy to all users, will be observed. Students should use the Send Message function in Canvas for private messages to the Instructor and other students. The class Discussion Board is for public messages

It is highly recommended that students keep electronic copies of all materials submitted as assignments, discussion board posts, and emails, until after the end of the term and a final grade is received. When posting responses in a discussion forum, please confirm that the responses have actually been posted after you submit them. Course Schedule [Adjust table, e.g., number of modules to fit actual course schedule]

Modules Titles / Topics Activities 1 Introduction to

Taxation, Tax Law, and Tax Research

1.1 Discussion: Introductions 1.2 Reading & Resources: Chapters 1 & 2 1.3 Videos: IRS Tax Tips Introductory Topics 1.4 Discussion: Tax Research 1.5 MyAccountingLab®

• Introduction • Study Plan • Homework

1.6 Assignment: Research Problem 2 Gross Income 2.1 Reading & Resources: Chapters 3 & 4

2.2 Videos: IRS Tax Tips Income 2.3 Discussion: Gross Income 2.4 MyAccountingLab®

• Study Plan • Homework • Quiz

3 Losses, Bad Debt, and Cost Recovery

3.1 Reading & Resources: Chapters 8 & 10 3.2 Videos: IRS Webinar 3.3 Discussion: Deductions and Losses 3.4 MyAccountingLab®

• Study Plan • Homework

3.5 Assignment: Research Problem 4 Property Transactions 4.1 Reading & Resources: Chapters 5, 12 & 13

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Modules Titles / Topics Activities

4.2 Videos: Property Transactions 4.3 Discussion: Property Transactions 4.4 MyAccountingLab®

• Study Plan • Homework • Quiz

5 Deductions and Credits

5.1 Reading & Resources: Chapters 6, 7 & 14 5.2 Videos: IRS Tax Tips Deductions 5.3 Discussion: Individual Taxation 5.4 MyAccountingLab®

• Study Plan • Homework

5.5 Assignment: Research Problem 6 Corporate Taxation 6.1 Reading & Resources: Chapters 2 & 3

6.2 Videos: Corporate Taxation 6.3 Discussion: Corporate Taxation 6.4 MyAccountingLab®

• Study Plan • Homework • Quiz

7 Corporate Distribution and S-Corporations

7.1 Reading & Resources: Chapters 4, 6 & 11 7.2 Videos: S Corporations 7.3 Discussion: Corporate Distributions and S

Corporations 7.4 MyAccountingLab®

• Study Plan • Homework

7.5 Assignment: Research Problem 8 Partnership Taxation 8.1 Reading & Resources: Chapters 9 & 10

8.2 Videos: Partnership Taxation 8.3 Discussion: Partnership Taxation 8.4 MyAccountingLab®

• Study Plan • Homework • Quiz

9 Individual and Business Taxation

9.1 Reading & Resources: Review 9.2 Discussion: Court Decisions 9.3 Final Exam