Effective: Late Fall 8-Week, 2018/2019

ACCT 481: Federal Income Tax-Corporation

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  Course Description

Focuses on the federal income taxation of corporations and shareholders; corporate formation and capital structure; corporate distributions; corporate liquidations; penalty taxes on corporations; partnerships; S corporations.

Prerequisite: ACCT 381 and senior standing

Proctored Exams: None



  Textbooks

Required

  • Spilker et al.. Taxation of Business Entities. 8th ed. McGraw Hill, 2017.
    • ISBN-978-1-259-91746-2

Connect

Passcode to CONNECT is included with the purchase of new textbook from MBS Direct. However, if you need to purchase access to CONNECT separately, this can be done through the publisher's website during the first week of class.

CAUTION: Do not purchase USED passcodes to CONNECT; they are not valid. 

A link to the course Connect website will be provided on the first day of class. Do not try to register for Connect prior to the first day. You must register for the website associated with this session and section only. Registration cannot be changed or reversed.

MBS Information

Textbooks for the course may be ordered from MBS Direct. You can order

For additional information about the bookstore, visit http://www.mbsbooks.com.

  Course Overview

Material in this course is presented from a theory and preparation perspective so that the student will develop an understanding of the mechanical operation of tax return preparation as well as the underlying theory. The student should, upon course completion, be able to explain how our current system of taxation evolved and how to prepare business entities’ income tax returns.

This class is designed to:

  • Introduce students to a broad range of tax concepts and types of taxpayers
  • Emphasize the role of taxation in the business decision-making process
  • Provide students with the ability to conduct basic tax research and tax planning
  • Expose students to professional standards and ethics
  • Provide students with a knowledge of the interrelationship and differences between financial accounting and tax accounting 

Each week we will focus on a different aspect of federal taxation with readings, homework, quizzes, discussions and any other activities that will help us understand the issues and problems encountered in taxation.

  Technology Requirements

Participation in this course will require the basic technology for all online classes at Columbia College:
  • A computer with reliable Internet access
  • A web browser
  • Acrobat Reader
  • Microsoft Office or another word processor such as Open Office

You can find more details about standard technical requirements for our courses on our site.

  Course Objectives

  • To understand the conceptual framework of the federal tax law for corporations
  • To understand accounting procedures and tax laws necessary to ensure compliance with tax law.
  • To appreciate techniques used in tax planning.

  Measurable Learning Outcomes

  • Identify the sources of tax law and methods of tax research.
  • Explain the various forms of capital structures and the taxation of each.
  • Compute a corporation’s taxable income and tax liability.
  • Calculate the taxation of corporate distributions, both liquidating and non-liquidating.
  • Calculate the alternative minimum tax.
  • Calculate the tax consequences of corporate acquisitions and reorganizations.
  • Prepare consolidated tax returns.
  • Describe and calculate the taxation of partnerships and S corporations.
  • Describe and calculate the taxation of gifts and estates.

  Grading

Grading Scale

Grade Points Percent
A 900-1000 90-100%
B 800-899 80-89%
C 700-799 70-79%
D 600-699 60-69%
F 0-599 0-59%

Grade Weights

Assignment Category Points Percent
Discussions (9) 180 18%
Connect Homework (8) 160 16%
Weekly Quizzes (8) 160 16%
Midterm 250 25%
Final 250 25%
Total 1000 100%

  Schedule of Due Dates

Week 1

Assignment Points Due
Introductions and Muddiest Point Discussion 1 40 Sunday
Connect Homework 1 20
Chapter 1 Quiz 20

Week 2

Assignment Points Due
Muddiest Point Discussion 2 20 Sunday
Connect Homework 2 20
Chapters 2 & 3 Quiz 20

Week 3

Assignment Points Due
Muddiest Point Discussion 3 20 Sunday
Connect Homework 3 20
Chapters 4 & 5 Quiz 20

Week 4

Assignment Points Due
Muddiest Point Discussion 4 20 Sunday
Connect Homework 4 20
Chapters 6 & 7 Quiz 20

Week 5

Assignment Points Due
Muddiest Point Discussion 5 20 Sunday
Connect Homework 5 20
Chapter 8 Quiz 20
Midterm Exam 250

Week 6

Assignment Points Due
Muddiest Point Discussion 6 20 Sunday
Connect Homework 6 20
Chapters 9 & 10 Quiz 20

Week 7

Assignment Points Due
Muddiest Point Discussion 7 20 Sunday
Connect Homework 7 20
Chapters 11 & 12 Quiz 20

Week 8

Assignment Points Due
Muddiest Point Discussion 8 20 Wednesday
Connect Homework 8 20
Chapter 14 Quiz 20
Final Exam 250 Saturday
Total Points: 1000

  Assignment Overview

Connect Homework Assignments

Each week has selected homework exercises for the chapter(s) assigned to the week. These assignments are to be completed using the Connect Homework Manager tool that students link to on the Internet. An “access card” is required and should have been part of the student’s textbook purchase through MBS Direct. Students have unlimited attempts at the homework assignments and may work the assignments until they have obtained the twenty (20) possible points for each week.

Discussions

Each week students are asked to post a question, or “Muddy Point,” or provide an answer to another’s “Muddy Point” in the appropriate forum found in the Discussion area of the course room. Students’ postings/questions must be relevant to the week’s reading, homework, or quiz. Please include the Muddy Point’s topic in the thread’s subject line. For example, if a student’s question is in regards to the Alternative Minimum Tax, the subject line should read as some variation of “Alternative Minimum Tax.” Do not submit “Muddy Point” or “Student Name” as the subject line. The subject titles should aid us in developing an online discussion flow similar to having a discussion if we were face-to-face. In other words, we should all be able to know where we are entering a discussion.

Postings must be completed by 11:59 p.m. on Sunday. However, if you do not post until after 11:59 p.m. on Saturday, you will not be eligible for more than 4 discussion points for the week. So, if you post after 11:59 p.m. on Saturday, make sure it is your second, third (or higher) relevant posting of the week. A minimum of one (1) relevant discussion posting is required each week (2 in the first week). A well thought out, higher level of thinking posting is eligible for 100% of the weekly posting points, however, it is rare that students will achieve the full points with one posting per week. Less well thought out, lower level of thinking postings would receive less than 100% of the weekly posting points. Postings are graded throughout the week so that students can determine points earned and continue to try to achieve 100% of the possible points. Students should post more than once per week to try and obtain 100% of the possible weekly posting points. The instructor will determine the relevance and value of the postings, using a rubric (see the course room for more guidance). Students should read all postings each week. The best way to gain an understanding of the material in this course is to be involved with the course and with your co-learners. You can always post in the General Discussion Forum, for discussion on non-content related issues; however, points are not awarded for postings in the General Discussions forum.

Quizzes and Exams

Each week students are required to complete a Chapter Quiz by 11:59 p.m. Sunday. Each quiz is worth a total of 20 points. Students can take this quiz up to two times, and are awarded the highest score of the two attempts.

Students are also required to complete a Midterm and a Final exam. The Midterm will be available from Monday of Week 5 at 12:05 a.m. until Sunday of Week 5 at 11:59 p.m. The Final will be available from Thursday of Week 8 at 12:05 a.m. until Saturday of Week 8 at 11:59 p.m. Each exam is comprised of 50 questions worth 5 points each for a total of 250 points. The Midterm and Final have hard copies located under the Contents tab. These can be used to complete the exams. However, the answers to the exam questions must be inputted under the Quizzes tab.

Neither the quizzes nor the exams are to be completed in teams of students or with any help from any individual. However, all other resources are available to students. The available resources may include, but are not limited to, your textbook, material under Content area of the course room, other textbooks, the Internet, etc. Again, students are responsible for completing all quizzes and tests on their own. The instructor will adjudge whether or not a student has “teamed-up” with another to complete a quiz or test. If the instructor concludes that cheating has occurred, grades of all those suspected will be lowered by two (2) full letter grades. To appeal this action, each student will need to file a formal complaint with Columbia College.

  Course Outline

Click on each week to view details about the activities scheduled for that week.

Readings

Chapter 1

Introductions and Muddiest Point Discussion 1

Introductions Discussion: Students should introduce themselves in the Introductions forum found in the Discussions area of the course room. An introduction may include your geographic location, your hobbies, your family, or anything else that you would like to share. This is a required posting.

Muddiest Point Discussion 1: For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 1

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapter 1
Chapter 1 Quiz

Complete the Week 1 Quiz by 11:59 p.m. Sunday.

Readings

Chapters 2 & 3

Muddiest Point Discussion 2

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 2

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapters 2 & 3
Chapters 2 & 3 Quiz

Complete the Week 2 Quiz by 11:59 p.m. Sunday.

Readings

Chapters 4 & 5

Muddiest Point Discussion 3

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 3

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapters 4 & 5
Chapters 4 & 5 Quiz

Complete the Week 3 Quiz by 11:59 p.m. Sunday.

Readings

Chapters 6 & 7

Muddiest Point Discussion 4

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 4

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapters 6 & 7
Chapters 6 & 7 Quiz

Complete the Week 4 Quiz by 11:59 p.m. Sunday.

Readings

Chapter 8

Muddiest Point Discussion 5

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 5

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapter 8
Chapter 8 Quiz

Complete the Week 5 Quiz by 11:59 p.m. Sunday.

Midterm Exam
Complete the Midterm Exam by 11:59 p.m. Sunday. This exam covers material from Chapters 1 through 7. The exam will open Monday morning. A downloadable version of the exam is also available in the Content area. You are allowed to use your textbook and other written resources to assist you with the exam, but no collaboration or assistance from another person is allowed. You will input your answers in the Quizzes area of the course room for grading.
Readings

Chapters 9 & 10

Muddiest Point Discussion 6

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 6

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapters 9 & 10
Chapters 9 & 10 Quiz

Complete the Week 6 Quiz by 11:59 p.m. Sunday.

Course Evaluation
Please evaluate the course. You will have an opportunity to evaluate the course near the end of the session. A link sent to your CougarMail will allow you to access the evaluation. Please note that these evaluations are provided so that I can improve the course, find out what students perceive to be its strengths and weaknesses, and in general assess the success of the course. Please do take the time to fill this out.
Readings

Chapters 11 & 12

Muddiest Point Discussion 7

For the weekly discussion, please post Muddy Points and/or responses to others’ Muddy Points for the week in the appropriate forum found in the Discussions area of the course room. A Muddy Point can come from the readings, homework, quiz, etc. Please post the initial relevant posting as early in the week as possible, and no later than 11:59 p.m. on Saturday evening, and all subsequent postings by 11:59 p.m. Sunday. Early postings facilitate quality discussions of the weekly material. Early postings are expected. Please post early and often. (See “Assignment Overview – Discussions” above for more information.)

Connect Homework 7

Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.

  • LearnSmart & Homework, Chapters 11 & 12
Chapters 11 & 12 Quiz

Complete the Week 7 Quiz by 11:59 p.m. Sunday.

Readings

Chapter 14

Muddiest Point Discussion 8

Please note that all discussion of course content must be submitted by Wednesday at 11:59 p.m. There cannot be any discussion of the course content while the final exam is being administered.

Connect Homework 8

Homework should be completed by 11:59 on Wednesday.  Students should visit the Connect Homework Manager website and complete the textbook assignments provided. See “Contents” section in D2L for Connect link.  

  • LearnSmart & Homework, Chapter 14
Chapter 14 Quiz

Complete the Week 8 Quiz by 11:59 p.m. Wednesday.

Final Exam
Complete the Final Exam by 11:59 p.m. Saturday. This exam covers material from Chapters 8-12 & 14. The exam will open Thursday morning at 12:05 a.m. A downloadable version of the exam is available in the Content area. Students are allowed to use the textbook and other written resources, including the Internet, to assist with the exam, but no collaboration or assistance from another person is permitted. Input your answers in the Quizzes area of the course room for grading.

  Course Policies

Student Conduct

All Columbia College students, whether enrolled in a land-based or online course, are responsible for behaving in a manner consistent with Columbia College's Student Conduct Code and Acceptable Use Policy. Students violating these policies will be referred to the office of Student Affairs and/or the office of Academic Affairs for possible disciplinary action. The Student Code of Conduct and the Computer Use Policy for students can be found in the Columbia College Student Handbook. The Handbook is available online; you can also obtain a copy by calling the Student Affairs office (Campus Life) at 573-875-7400. The teacher maintains the right to manage a positive learning environment, and all students must adhere to the conventions of online etiquette.

Plagiarism

Your grade will be based in large part on the originality of your ideas and your written presentation of these ideas. Presenting the words, ideas, or expression of another in any form as your own is plagiarism. Students who fail to properly give credit for information contained in their written work (papers, journals, exams, etc.) are violating the intellectual property rights of the original author. For proper citation of the original authors, you should reference the appropriate publication manual for your degree program or course (APA, MLA, etc.). Violations are taken seriously in higher education and may result in a failing grade on the assignment, a grade of "F" for the course, or dismissal from the College.

Collaboration conducted between students without prior permission from the instructor is considered plagiarism and will be treated as such. Spouses and roommates taking the same course should be particularly careful.

All required papers may be submitted for textual similarity review to Turnitin.com for the detection of plagiarism. All submitted papers may be included in the Turnitin.com reference database for the purpose of detecting plagiarism. This service is subject to the Terms and Conditions of Use posted on the Turnitin.com site.

Non-Discrimination

There will be no discrimination on the basis of sex, race, color, national origin, sexual orientation, religion, ideology, political affiliation, veteran status, age, physical handicap, or marital status.

Student Accessibility Resources

Students with documented disabilities who may need academic services for this course are required to register with the office of Student Accessibility Resources. Until the student has been cleared through this office, accommodations do not have to be granted. If you are a student who has a documented disability, it is important for you to read the entire syllabus as soon as possible. The structure or the content of the course may make an accommodation not feasible. Student Accessibility Resources is located in Student Affairs in AHSC 215 and can be reached by phone at (573) 875-7626 or email at sar@ccis.edu.

Online Participation

You are expected to read the assigned texts and participate in the discussions and other course activities each week. Assignments should be posted by the due dates stated on the grading schedule in your syllabus. If an emergency arises that prevents you from participating in class, please let your instructor know as soon as possible.

Attendance Policy

Attendance for a week will be counted as having submitted any assigned activity for which points are earned. Attendance for the week is based upon the date work is submitted. A class week is defined as the period of time between Monday and Sunday (except for week 8, when the work and the course will end on Saturday at midnight.) The course and system deadlines are based on the Central Time Zone.

Cougar Email

All students are provided a CougarMail account when they enroll in classes at Columbia College. You are responsible for monitoring email from that account for important messages from the College and from your instructor. You may forward your Cougar email account to another account; however, the College cannot be held responsible for breaches in security or service interruptions with other email providers.

Students should use email for private messages to the instructor and other students. The class discussions are for public messages so the class members can each see what others have to say about any given topic and respond.

Late Assignment Policy

An online class requires regular participation and a commitment to your instructor and your classmates to regularly engage in the reading, discussion and writing assignments. Although most of the online communication for this course is asynchronous, you must be able to commit to the schedule of work for the class for the next eight weeks. You must keep up with the schedule of reading and writing to successfully complete the class.

No late discussion posts will be accepted.

Students will be awarded zero points (i.e., no points earned) for any late assignments or exams unless the student and instructor have agreed to the late submission of any of these items prior to the due date. The instructor will only permit late assignments for documented events related to health or documented family experiences.

Course Evaluation

You will have an opportunity to evaluate the course near the end of the session. A link will be sent to your CougarMail that will allow you to access the evaluation. Be assured that the evaluations are anonymous and that your instructor will not be able to see them until after final grades are submitted.

  Additional Resources

Orientation for New Students

This course is offered online, using course management software provided by Desire2Learn and Columbia College. The course user guide provides details about taking an online course at Columbia College. You may also want to visit the course demonstration to view a sample course before this one opens.

Technical Support

If you have problems accessing the course or posting your assignments, contact your instructor, the Columbia College Helpdesk, or the D2L Helpdesk for assistance. Contact information is also available within the online course environment.

Online Tutoring

Smarthinking is a free online tutoring service available to all Columbia College students. Smarthinking provides real-time online tutoring and homework help for Math, English, and Writing. Smarthinking also provides access to live tutorials in writing and math, as well as a full range of study resources, including writing manuals, sample problems, and study skills manuals. You can access the service from wherever you have a connection to the Internet. I encourage you to take advantage of this free service provided by the college.

Access Smarthinking through CougarTrack under Students -> Academics -> Academic Resources.