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NWTC-Marinette - Fall 2008
Accounting - Personal Tax

Class Number  Subject  Catalog Number  Section  Description  Credits  Hours  Status  Seats Available  Number on Waitlist

ACCOUNT 10101154 - 01 Accounting-Personal Tax Northeast WI Technical College | Fall 2008 | Lecture
CLASS DETAILS Status Wait List Class Number 80357 Session Regular Academic Session Units 4 units Instruction Mode ITV/Accelerated
Laboratory Lecture Class Components Career Post Secondary Dates 8/18/2008 - 11/3/2008 Grading Graded - Postsecondary Location
Marinette Campus Virtual Campus Meeting Information Days & Times Room Instructor Meeting Dates Mo 5:00PM - 10:00PM
Marinette Campus Room 103 Lloyd Cook 8/18/2008 - 11/3/2008 CLASS AVAILABILITY Class Capacity Wait List Capacity 10 6
Enrollment Total Wait List Total 10 1 Available Seats 0

Notes
Class Notes No Class on September 1, 2008. This is an ACL (Accelerated) class.
Your first assignment will be sent to your NWTC e-mail at least one week prior to the class start
date. Direct technical questions on accessing NWTC e-mail to 920-498-6900.
This is a live distance learning class.

DESCRIPTION
10-101-154 ACCOUNTING-PERSONAL TAX ...history and research of tax law and regulations;
preparation of Federal individual income taxes including forms 1040, 1040A, and 1040EZ, and
supporting schedules and forms
E-mail: lloyd.cook@nwtc.edu

Text:  Essentials of Federal Income Taxation For Individuals and Businesses - 2008 Edition
          Linda M. Johnson, Ph.D., CPA & Herbert C. Sieg, MAS, CPA
          Commerce Clearing House (CCH) - ISBN: 978-0-8080-1785-1

http://tax.cchgroup.com/Education/EssentialFedIncome.htm
CCH - a Wolters Kluwer business
http://www.cch.com/

Essentials of Federal Income Taxation for Individuals and Business, by Linda M. Johnson and Herbert C. Sieg, features an easy-reading, straightforward forms approach that is both simple and direct without complex legal language. It introduces basic tax concepts and then fully illustrates them with clear examples and helpful filled-in forms. Organized to save time, Essentials of Federal Income Taxation builds a firm foundation on which to build students' knowledge and understanding of the tax issues which will affect them throughout their careers

Features Include:

Concise presentation that covers all the basic material required for an introductory tax course.

Organization that clearly focuses student attention on key concepts and important learning objectives for better overall comprehension.

Use of IRS forms, schedules and worksheets that develop real-world tax preparation skills and illustrate specific reporting requirements.

Filled-in forms that support the explanatory material, so students see real-world tax compliance, in practice.

Tax Tips throughout the text that offer tax-planning guidance, so students see how to minimize tax liability and avoid costly taxpayer mistakes.

End of Chapter Questions and Problems that reinforce the salient points presented, as well as key skills required in tax prep.

Special Comprehensive Problems that integrate the major concepts from several chapters to help students "put the pieces together" and prepare for examination.

About the Authors: Essentials of Federal Income Taxation for Individuals and Business (2008) Professor Herbert C. Sieg, CPA, is a former tax instructor at Illinois State University. Linda M. Johnson, Ph.D., CPA, is an instructor at Georgia State University. She is also the co-author of CCH's IRAs After Taxpayer Relief Act of 1997 and New IRA Opportunities After Taxpayer Relief Act of 1997. Her professional work experience includes three years as a tax staff/senior for Arthur Young & Co.

Prerequisites:  Accounting 1

Supplies for the students:
    See links below for resources on the internet
    Note:  Publication 17 and all tax forms are available on-line.

Syllabus (Subject to Revision)
(Revision # 4, dated Monday October 27, 2008 08:35:17 PM

At the completion of the course, the learner will be able to demonstrate a working knowledge of individual &
business tax return preparation.

Course Description:  This course provides the opportunity for the learner to develop the knowledge skills

process and understanding of the following competencies:

  1. Discover the history of & reasons for tax law

  2. Gain an understanding of the Tax Formula

  3. Prepare Federal Individual Income Tax Forms

  4. Prepare Business Income Tax Forms (intro only)

  5. Do Federal Tax Research, on-line

  6. Work in teams to solve "Comprehensive" tax problems

  7. Use Internet Resources to obtain  tax forms (& in come cases - complete them), tax instructions,

      and to research tax law & interpretations

  8. Use the Internet to find States Tax Laws and access States Tax Forms/Instructions

  9. A brief review/discussion of tax software, and a brief look/discussion about on-line filing options.

 Course Outline with Timeline
  M 5:00PM - 10:00PM Marinette Campus Room 103 8/18/2008 - 11/03/2008

Week 01 (08/18/087)	Ch 1 Ch 2	Overview of The Tax Structure including PPT Tax Determination, Payments, & Reporting Procedures including PPT Review Solutions to HW for both Chaps 1 & 2
Week 02 (08/25/08)	Ch 3 Ch 4	Comprehensive Problems Ch 1 & 2 presented by teams Cumulative Problem (Ch 1-2) Gross Income Inclusions including PPT Gross Income Exclusions and Adjustments to Income including PPT
Week 03 (09/01/08)		No Class Tonight
Week 04 (09/08/08)		Comprehensive Problems Ch 3 & 4 presented by teams Lab:  Cumulative Problem (Ch 1-4) Catch up with Chaps 1 - 4 if needed
Week 05 (09/15/08)	Ch 5 Ch 6	Personal Itemized Deductions (Schedule A) including PPT Other Itemized Deductions including PPT Cumulative Problem (Ch 1-6)
Week 06 (09/22/08)	Ch 7 Ch 8	Comprehensive Problems Ch 5 & 6 presented by teams Self-employment (Form SE) including PPT Depreciation & Amortization (Form 4562) including PPT
Week 07 (09/29/08)	Ch 9 Ch 10	Comprehensive Problems Ch 7 & 8 presented by teams Rental Activities including PPT Property: Basis and Nontaxable Exchanges including PPT Cumulative Problem (Ch 8-10)
Week 08 (10/06/08)	Ch 11 Ch 12	Property: Capital Gains & Losses, and Depreciation Recapture including PPT NOL, AMT, and Business Tax Credits including PPT
Week 09 (10/13/08)	Ch 13	Estimated Taxes only
Week 10 (10/20/08)		Lab:  Cumulative Problem (Ch 8-12) Lab:  Cumulative Problem (Ch 1-12)
Week 11 (10/27/08)	Ch 14 Ch 15	C Corporations Partnerships & S-Corporations
Week 12 (11/03/07)		Cumulative Problem (Ch 14-15) Final Presentations and Pizza Party!

 

During the semester, we'll see some PowerPoint presentations, use the text, use the internet as a resource, solve problems, fill in tax forms, do some tax research, learn how to find everything you need for tax prep on the internet, use a dictionary, use your calculators or calculate in your head (preferred), and... hopefully, have a little fun too...

Chapter:		Homework Assignments:
Chapter 01		Ch 01 Questions & Problems 1 thru 31 (pgs 1-35 thru 1-44)
Chapter 02		Ch 02 Questions & Problems 1 thru 29 (pgs 2-37 thru 2-51) and Comprehensive Problem (pg 2-52) Prepped/Presented by Teams and Cumulative Problems 1 & 2 (PDF 45Kb) (Ch 1 thru 2) (pgs 2-53 thru 2-54) Solutions: Problems 2-26 and 2-27,  Problem 2-28,  Problems 2-29 and 2-30 (each one in PDF format)
Chapter 03		Ch 03 Questions & Problems 1 thru 35 (pgs 3-35 thru 3-46) and Comprehensive Problem (pgs 3-47 & 3-48) Prepped/Presented by Teams
Chapter 04		Ch 04 Questions & Problems 1 thru 31 (pgs 4-37 thru 4-48) and Comprehensive Problem (pg 4-49) Prepped/Presented by Teams and Cumulative Problems (Ch 1 thru 4) (PDF 5.052Mb) (pgs 4-50 thru 4-62)
Chapter 05		Ch 05 Questions & Problems 1 thru 32 (pgs 5-27 thru 5-41) and Comprehensive Problem (pgs 5-42 thru 5-46) Prepped/Presented by Teams
Chapter 06		Ch 06 Questions & Problems 1 thru 20 (pgs 6-26 thru 6-35) and Comprehensive Problem (pgs 6-36 thru 6-39) Prepped/Presented by Teams and Cumulative Problem (Ch 1 thru 6) (PDF 4.692 Mb) (pgs 6-40 thru 6-47)
Chapter 07		Ch 07 Questions & Problems 1 thru 30 (pgs 7-35 thru 7-48) Comprehensive Problem (pgs 7-50 thru 7-56) Prepped/Presented by Teams and Tax Ethics Case 31 (page 7-49)
Chapter 08		Ch 08 Questions & Problems 1 thru 26 (pgs 8-29 thru 8-40) (large file size = 4.96 Mb) Here's a downsized (but not as clear) version of the PDF (1.26 Mb) and Comprehensive Problem (pgs 8-41 & 8-47) Prepped/Presented by Teams
Chapter 09		Ch 09 Questions & Problems 1 thru 19 (pgs 9-21 thru 9-31) and Comprehensive Problem (pgs 9-33 thru 9-34) Prepped/Presented by Teams and Cumulative Problem (Ch 1 thru 9) (PDF 3.057 Mb) (pgs 9-36 thru 9-42)
Chapter 10		Ch 10 Questions & Problems 1 thru 30 (pgs 10-23 thru 10-31) and Cumulative Problem (Ch 8 thru 10) (PDF 43 Kb) (pg 10-32)
Chapter 11		Ch 11 Questions & Problems 1 thru 28 (pgs 11-31 thru 11-41) Comprehensive Problem (pgs 11-42 thru 11-47) Prepped/Presented by Teams
Chapter 12		Ch 12 Questions & Problems 1 thru 23 (pgs 12-30 thru 12-39) and Comprehensive Problem (pgs 12-40 thru 12-45) Prepped/Presented by Teams and Cumulative Problem (Ch 1 thru 12) (PDF 7.868 Mb) (pgs 12-46 thru 12-63)
Chapter 13		Ch 13 Questions & Problems 18 thru 23 (pgs 13-42 thru 13-44)
Chapter 14		Ch 14 Questions & Problems 1 thru 26 (pgs 14-25 thru 14-34) and Comprehensive Problem (PDF 4.45Mb) (pg 14-35 thru 14-42) Prepped/Presented by Teams
Chapter 15		Ch 15 Questions & Problems 1 thru 25 (pgs 15-41 thru 15-62) and Cumulative Problem (Ch 14 & 15) (PDF 35Kb) (pg 15-63)
Check Figures >>		Click here for check figures to selected HW problems in PDF Format

 

Course Calendar: (Course Outline with Timeline Above)

Grading Policy:

Each student starts with an "A"
In order to keep your "A" throughout the course, you will need to earn 1,128 - 1,260 points:
(Grading Scale for first year courses:  A=90-100, B=80-89, C=70-79, D =60-69, F=below 60)

Homework Assignments (lots)	600	58%	Due weekly & covered weekly in class (40 pts/chapter x 15 chapters)
Cumulative Problems (8)	160	15%	8 during the semester (20 pts/problem)
Team Projects/Presentations	220	21%	11 during the semester (20 pts each) Comprehensive Problems (Teams)
Extra Credit	60	6%	various points possible during the semester
Total Possible	1,040	100%	Points needed to keep your "A"	936	1,040
			Points needed to earn a      "B"	832	935
			Points needed to take a      "C"	728	831
			Points needed to get a        "D"	624	727
			Points needed to record a    "F"	Below	624

 

1.  Additional student on-line resources:
A.	Internal Revenue Service  & Copy of 1913 Tax Return w/instructions PDF127Kb
B.	U.S. Tax Code - On-line
C.	Wisconsin Department of Revenue - Forms & Publications
D.	Michigan Department of Treasury
E.	National Association of Tax Professionals
E.	TurboTax Tax Center
D.	CCH Special Report - CCH provides the industry's leading coverage of tax legislation. Bookmark this page for access to the latest legislative briefings.
2.  Homework will account for 58% of your grade. Please keep up with the homework and bring it to class when due. Homework, etc. turned in late will not receive full credit.
3.  If you are having problems with any of the material, please use the resources of your team first.  If you still have questions, send me an e-mail and I'll be glad to help you out.
4.  Our objective is to learn as much as possible about Personal Tax, get to know each other, become more comfortable presenting our ideas, use the technological tools at our disposal and…have a little fun…along the way!
5.  Disclaimer:  This syllabus, a contract between the student and the instructor, is subject to change.  Please consider this the 2nd draft (Revision # 4, dated Monday October 27, 2008 08:35:17 PM  6.  Additional Resources: Click here (pdf format 54.1Kb) for Check Figures to Selected Homework Problems

Copyright © 1996 - 2008 Lloyd Cook
E-mail: lloyd.cook@nwtc.edu
BS - Managerial Accounting - UW-Green Bay.
5 year teaching certificate - Accounting/Computer Applications -
  WI Technical College System
Certified Accelerated Learning Facilitator - NWTC-Green Bay
Adjunct Instructor (MS Office, Windows XP, Digital Photography, Scanners, Internet, E-mail & Web Design,
   All Accounting Courses, Economics & Credit Procedures) - NWTC-Marinette
Adjunct Instructor (Managerial Accounting) - Silver Lake College, Manitowoc, WI (NWTC-Marinette Campus)
Adjunct Instructor (MS Office, Windows, Adobe PhotoShop, Internet, Web Design, & College For Kids) UW-Marinette.
Certified Web Master. Member of: National Society of Accountants  International Webmasters Association (IWA)
 Internet Society (ISOC)  Html Writers Guild (HWG)
Last updated Monday October 27, 2008 08:35 PM
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