Business Income Taxes
Tax – 342
Instructor: Stacy Kline
Office: 504J - Matheson
Office Hours: Thursday 2:00-5:00 and by appointment
Text: West Taxation of Business Entities 2007 Edition, Smith, Raabe, and
Maloney, West/Southwestern, 2007.
Study Guide to accompany the text is optional.
Tax knowledge is cumulative. You must attend class and participate to learn tax law.
In addition, we will discuss the answers to various homework problems. If you cannot
attend class, please inform me ahead of time. Participation includes attending class,
being prepared for class, reading chapters and completing homework prior to class, and
discussing topics or asking questions during class time.
You must read an assigned chapter before coming to the class in which I will lecture
the chapter. Homework for each chapter will be assigned at the end of the discussion of a
chapter. It is your responsibility to obtain the assignments. All assignments are posted
on the above website. We will discuss only the homework problems giving you trouble.
Thus, it is imperative that you come to class having attempted the homework problems so
I can help you. Otherwise, I will move on to the next topic. Tax knowledge is cumulative
and it is important that you keep up with your readings and homework.
Each exam will include multiple-choice questions and/or problems or research.
Exams may be on paper or computerized. Exams are open book (not notes), but your
book is for reference only. The exams are very comprehensive and if you are not
prepared, you will not finish within the allotted 2 hours, even with the use of your book.
Exam material may come from any material in the chapters assigned and any additional
information discussed in class. No make-up exams will be given for any reason. If you
miss a midterm, your final exam will be cumulative and count for double points. If you
miss a final exam, you will receive a grade of zero.
Seven assignments are scheduled throughout the term as outlined in the course
schedule. Each assignment will be worth a maximum of 50 points towards your total
grade. Eight assignments are scheduled, but only seven will count towards your grade.
Those listed in bold on the course schedule are required. You may choose to complete all
of the assignments and have the top seven grades count.
All assignments must have references to proper tax citations as necessary (refer to
Chapter 2 for format), contain proper spelling and grammar, be typed and organized
neatly, and ready for submission at the beginning of class on the designated day. No late
assignments will be accepted. E-mail submissions of assignments will not be accepted
unless previously approved by the instructor in the event of extenuating circumstances.
Twenty points will be deducted from your score for each day the project is late for any
reason. (Think of me as the IRS assessing penalties!)
Assignments will be in the form of research papers, tax returns, and bridged discipline
problems. Research papers could be either a topical research paper or a research memo
on a specific tax issue. Tax returns will be for various business entities and will be
prepared using TurboTax. Bridge discipline problems will require answers from a
business tax perspective but will incorporate analysis from other areas, such as financial
All assignments must be completed individually and you may not discuss the
assignment with anyone.
Exam #1 200
Exam #2 200
Assignments (7) 350
Total Points Available 750
Final course grade distributions for the points earned are as follows:
Grade Points Grade Points
a+ 735-750 b+ 655-670
a 695-730 b 620-650
a- 675-690 b- 600-615
c+ 580-595 d+ 505-520
c 545-575 d 450-500
c- 525-540 f <450
Drexel University is committed to a learning environment that embraces academic honesty.
In order to protect and maintain a superior learning environment at LeBow College of Business,
all students must review and adhere to Drexel University’s Academic Honestly Policy. For
Forms of academic dishonesty include plagiarism, fabrications, cheating, and academic
misconduct. Students are responsible for the authenticity of material submitted both for
individual and group work. The Hagerty Library offers a brief online tutorial for recognizing
and avoiding plagiarism at: http://www.library.drexel.edu/resources/tutorials/plagiarism/plagiarism.html
No form of academic dishonest is acceptable in this class. Any graded material suspect of
academic dishonesty will receive a grade of zero.
Students with Disabilities:
Student with disabilities requesting accommodations and services at Drexel University need
to present a current accommodation verification letter (AVL) to faculty before accommodations
can be made. AVL’s are issued by the Office of Disability Services (ODS). For additional
information, contact the ODS at: www.drexel.edu/edt/disability, 3201 Arch St., Suite 210,
Philadelphia, PA 19104, (voice) 215.895.1401 or (TTY) 215.895.2299.