Syllabus actg445_Fall09

Syllabus actg445_Fall09 - University of Illinois at Chicago...

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1 University of Illinois at Chicago Department of Accounting ACTG 445 – Federal Tax I Fall 2009 Instructor Information Instructor: Keejae P. Hong, Ph.D., CPA Office: University Hall 2327 Office Phone: (312) 996-0671 Email: [email protected] (main email), [email protected] (homework only) Office Hour: 2:00 - 3:30 pm (Mon) & by appointment Blackboard: ACTG 445FA09 Class Time & Location: Section A: 9:30 - 10:45 (T/R) SH 220 Section B: 11:00 - 12:15 (T/R) LC A6 An Important Thought “…what really is important is what you bring to a class in terms of being interested in the subject. If you view a course like accounting as a drudge and a requirement, you are missing the whole game. Any course can be exciting. Mastering accounting is like mastering a new language, it can be so much fun. The attitude should be one of discovery, that you are coming there and discovering accounting. It is the language of business. It is the Rosetta Stone for business.” Warren Buffet—quoted in Nebraska Business , Fall, 2001. Course Description This first course in taxation is designed to introduce the student to the U.S. federal taxation system. Although the emphasis is primarily on the taxation of individuals, many of the concepts and rules are applicable to other taxable entities such as corporations. The introductory nature of this course necessarily entails a broader array of topics covered in less depth than that available in more advanced courses. We will discuss basic tax concepts such as income, deduction, credit, gain, and loss. This course should provide you with an understanding of the motivation behind tax law, a working knowledge of the technical rules, and an awareness of tax planning opportunities and limitations. Upon completion of his course, I would like you to (1) understand tax concepts and their rationale, and (2) be able to apply the technical rules to factual situations. Prerequisites Students enrolled in this class must have completed ACTG 315 or its equivalent. An understanding of basic accounting, the time value of money, and other concepts taught in introductory accounting courses are essential to understanding the material presented in this class. In addition, the use of computer software, such as office applications, Web-browsers, and e-mail programs will be necessary to complete the course requirements.
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