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									                             Maui Community College
                                 Course Outline

1. Alpha and Number                     ACC 134

   Course Title                         Income Tax Preparation

   Credits                              Three (3)

   Date of Outline                      February 27, 2004 (J. Moore)

2. Course Description                   Introduces principles, procedures, terminology,
                                        and applications of the Federal income tax law
                                        for individuals with comparison to Hawai’i
                                        individual income tax law.

3. Contact Hours/Type                   Three (3) hours/lecture

4. Prerequisites                        ENG 19 with at least a C, or placement at
                                        ENG 22 or 55, or consent


   Recommended Preparation

Approved by                                     Date
5. General Course Objective

   The purpose of this course is to provide a basic foundation in personal income tax. The
   students will acquire the fundamental knowledge and skills to apply the Federal tax laws to
   complete a federal tax return and its supporting forms, schedules, and worksheets.

   For detailed information on how ACC 134 focuses on the Maui Community College general
   education standards, see the attached curricular grids.

   ACC 134 fulfills three of the 21 credits for the Accounting requirements for the A.A.S.
   Accounting degree at Maui Community College, and the three credit requirement in Applied
   Studies for the Liberal Arts A.A. degree.

6. Student Learning Outcomes
   For assessment purposes, these are linked to #7, Recommended Course Content.

   Upon successful completion of this course, the student will be able to:

   a. calculate the amount of tax owed or refunded using the tax formula;
   b. calculate tax liability using both the tax table and tax rate schedule;
   c. apply standard deduction, including the additional amounts for the old age and blind, and
      calculate the standard deduction for a dependent;
   d. calculate the limitation on total itemized deductions;
   e. determine personal and dependent exemptions, and calculate the limitation on
   f. apply the definitions of the various filing statuses to determine the appropriate filing status
      for a taxpayer;
   g. identify income items as included in or excluded from gross income;
   h. determine the deductibility of alimony payments, property settlement and child support;
   i. calculate the taxable amounts for annuities and social security benefits;
   j. apply the laws regarding vacation homes to determine tax treatment for primarily
      personal use, primarily rental use, and rental/personal use;
   k. calculate limitations on passive losses;
   l. apply the laws regarding traditional and Roth IRA accounts, including tax deductions and
   m. identify and apply deductible travel, transportation, entertainment, education and other
      business related expenses;
   n. calculate total itemized deductions, including medical expenses, interest expenses,
      charitable contributions, casualty and theft losses, and miscellaneous deductions;
   o. calculate moving expenses;
   p. describe the difference between deductions and credits;
   q. apply the laws regarding the various tax credits, and calculate the credits for the
      following, Credit for the Elderly, Child Tax Credit, Earned Income Credit, Child and
      Dependent Credit, Education Tax Credits, and Adoption Credit;
   r. define tax terminology relating to capital assets;
   s. calculate capital gains tax using the appropriate tax rates;
   t. complete the 1040 tax return and the supporting forms, schedules and worksheets.
7. Recommended Course Content and Approximate Time Spent on Each Topic
   Linked to #6. Student Learning Outcomes

   2-4 Weeks            Individual Income Tax Return (a, b, c, d, e, f, t)

   1-3 Weeks            Income and Exclusions (g, h, i, t)

   1-2 Weeks            Business Expense and Retirement Plans (j, k, l, t)

   1-2 Weeks            Employee Expenses (m, t)

   2-3 Weeks            Itemized and Other Deductions (n, o, p, t)

   2-3 Weeks            Credits (p, q, t)

   1-2 Weeks            Gains and Losses (r, s, t)

8. Text and Materials, Reference Materials, Auxiliary Materials, and Content

   Appropriate text(s) and materials will be chosen at the time the course is to be offered from
   those currently available in the field.

      Whittenburg, G & Altus-Buller, M. 2003. Income Tax Fundamentals. Thomson-
      Southwestern. Mason, OH.

   Text may be supplemented with:
      Federal and state tax forms, instruction, and publications
      Articles and/or handouts prepared by the instructor
      Magazine or newspaper articles

      Appropriate films, videos, and Internet sites
      Guest speakers

9. Recommended Course Requirements and Evaluations

   Specific course requirements are at the discretion of the instructor at the time the course is
   being offered. Suggested requirements might include, but are not limited to:

   40 – 80%             Examinations

   0 – 40%              In-class exercises

   0 – 40%              Homework

   0 – 30%              Quizzes

   0 – 20%              Projects/research

   0 – 20%              Attendance and or class participation

10. Methods of Instruction

    Instructional methods vary considerable with instructors and specific instructional methods
    will be at the discretion of the instructor teaching the course. Suggested techniques might
    include, but are not limited to:

   a. lectures and class discussions;
   b. quizzes and other tests with feedback and discussions;
   c. problem solving;
   d. PowerPoint presentations;
   e. videos, dvds, cd-rom's ;
   f. guest speakers;
   g. group activities;
   h. oral reports and other student presentations;
   i. games and simulations;
   j. homework assignments, such as:
           - reading, or watching, and writing summaries and reactions to financial issues in the
             media including newspapers, videos, magazines, journals;
           - reading text and completing problems and activities from text;
   k. web-based assignments and activities;
   l. reflective journals;
   m. group and/or individual research projects with reports or poster presentations;
   n. study logs and study groups;
   o. service-learning, community service, and/or civic engagement projects; and other
      contemporary learning techniques (such as problem-based learning).

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