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Unformatted text preview: Business 3 Chabot College INCOME TAX ACCOUNTING Instructor: Mrs. Norma Hunting Spring, 2010 e-mail: [email protected] Thursday, 6:00 – 9:50 p.m. Office Hour: Thursday 5:00 – 5:50 p.m. Room 1612 Office: 454 J The primary concern of this course is the computation of federal income tax for individuals. This will include taxable vs. non-taxable income, adjustments, itemized deductions, capital gains and losses, estimated tax, and credits using IRS rules and forms. When you finish the class, you should be able to fill out a typical individual tax return. Recent changes in federal tax law and California rules which differ from federal will be given in class as time permits. TEXT: Income Tax Fundamentals , 2010 edition, by Wittenburg & Altus-Buller, South-Western Cengage Learning, ISBN 1-4390-4409-0 Assignments Jan 21 1.1 - 1.6 Intro. & Basic Tax I: 3-13 Std. Deduction, Filing Requirements, Status II: 2-4, 7-16, 18, 19, 22-24 Exemptions _________________________________________________________________________ Ch. 1 Forms 1040EZ, 1040A, Schedule M Ch 1 III: 1 & 2a (Bayon & Lazo) Jan 28 2.1 - 2.6 Gross Income: Interest, dividends, alimony, Ch 2 I: 1-8 prizes, awards, annuities, life insurance II: 1-19, 31 ________________________________________________________________________________________ Feb 4 QUIZ Ch. 1 2.7 - 2.14 Gross Income: Gifts, scholarships, health insurance, I: 9-12 meals, lodging, Social Security, unemployment, fringe II: 20-30 benefits III: 1 & 2a (Hair & Gomez) _________________________________________________________________________________________...
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- Spring '09
- Accounting, Taxation in the United States, Tax Planning Ch