ACC 570
ADVANCED TAXES
SPRING 2012
INSTRUCTOR: DR. BOB KILPATRICK, CPA
OFFICE: CBA 421
OFFICE HRS: M & W 9:45 – 11:15; and by appt.
PHONE: 523-7399
E-MAIL:
WEBSITE: www.franke.nau.edu/faculty/fac.asp?facultyid=32
COURSE MATERIALS:
West’s Federal Taxation: Comprehensive Volume (’12)/Aplia/CPAexcel bundle
CATALOG DESCRIPTION: Advanced topics in tax research; tax planning for individuals, estates and trusts, and business entities; professional tax practices and standards.
PREREQUISITES: ACC 460, Income Tax Accounting
COURSE LEARNING OUTCOMES:
· To reinforce the importance of competent tax research
· To reinforce and expand knowledge base of thoughtful tax planning
· To expose students to professional standards and ethics
· To expand knowledge base of different entities taxation
· To expand knowledge base and emphasize the importance of individual tax planning for current taxes, investments, retirement, and estate and gift transactions
GRADING:
Grading will be based on a 10% scale (i.e., 90% of total points = A, etc.). Point allocations are below:
Exams / 500Tax Simulations – Forms (TSF) / 100
Tax Simulations – Research (TSR) / 40
Tax Simulations – Other Objective Formats (TSOOF) / 30
Aplia Chapter Quizzes / 40
Aplia Homework / 40
Total Points / 750
Exams will consist of multiple choice questions, discussion questions, and problems, all of which are of CPA Exam rigor. Only instructor-approved absences (given prior to an exam) will be accepted for missing a regularly-scheduled exam.
Due dates for the tax simulations are noted on the assignment schedule. You are encouraged to work in groups (maximum of 3 on any assignment turn-in) on these assignments. Instructions will be discussed later in the semester.
Aplia Quizzes are tests available on the Aplia website. The average of your scores on the five exams times the 40 points available determines your points.
Homework - You should have an Aplia Access Card bundled with your textbook. Registration instructions are provided on a separate document and on our course webpage. Assignments must be completed on our Aplia course website by the due dates & times listed on the Aplia schedule. I am mostly interested in you making a good faith effort in completing your homework rather than getting it completely correct on your first attempt. Consequently, to earn the 40 homework points, you must average only 60% on the homework assignments. The 40 points is scaled down for averages below 60% (e.g., 50% average earns 33 points (40 x 50%/60%).
IMPORTANT FINEPRINT:
SCHOLASTIC DISHONESTY: Scholastic dishonesty will not be tolerated. For a description of actions that constitute scholastic dishonesty, see the list provided under the Integrity section of the FCB Expectations of Behavior at http://www.franke.nau.edu/StudentResources/CodeOfConduct/. The full consequences of scholastic dishonesty will be pursued, consistent with the University policy on scholastic dishonesty. At a minimum, you will receive an “F” in this course for scholastic dishonesty. No drops are allowed for students who receive an F for scholastic dishonesty.
UNIVERSITY POLICY ON COURSE REPEATS: If you are repeating a course, you must complete a Course Repeat form and turn it in to the Registrar's office no later than the ADD deadline of the semester; otherwise, the original grade will not be removed from your cumulative GPA.
UNIVERSITY POLICY STATEMENTS on (a) safe environment, students with disabilities, institutional review board, academic integrity, academic contact hour policy, and (b) classroom management: Please see, respectively,
http://www2.nau.edu/academicadmin/UCCPolicy/plcystmt.html; http://www4.nau.edu/stulife/handbookmanagement.htm.
ACC 570, SPRING 2012
DAILY ASSIGNMENT SCHEDULE
DATE / TOPIC / APLIA HOMEWORK / APLIA QUIZ / TURN IN /Week 1
1/18 / Introduction to course;
Ch 13, Property Transactions.
(§1 & 2 only)
Week 2 / Prop1
1/23 / Ch 13, Property Transactions; / Ch13A
1/25 / Ch 14, Property Transactions;
IRS Pub 17, Ch 14 & 16 / Ch13B / TSOOF #1
Week 3 / Prop2,
MtdPd
1/30 / Ch 16, Periods & Methods
/ Ch14 / TSR #1
(10 pts)
2/01 / / Ch16 / TSF #1
(10 pts)
TSOOF #2
Week 4
2/06 / EXAM 1
2/08 / Ch 21: Partnerships
Week 5 / Pship
2/13 / Ch 21: Partnerships, con’t. / Ch21A
2/15 / Ch 22: S Corps. / Ch21B / TSR #2
(10 pts)
Week 6 / SCorp
2/20 / Ch22 / TSOOF #3
2/22 / Exam 2 / TSF #2
(20 pts)
Week 7 / CCorp1
2/27 / Ch 17: C Corps – Operations
2/29 / Ch 18: C Corps – Organization / Ch17
Week 8 / CCorp2
3/05 / Ch 19: C Corps – Dividends & Stock Redemptions / Ch18
3/07 / Ch19 / TSOOF #4
3/12, 14 / Spring Break
Week 9 / CCorp3
3/19 / SNOWDAY!
3/21 / Ch 20: C Corps – Liquidations & Reorganizations Overview / TSR #3
TSF#3 (25 pts)
Week 10
3/26 / Ch20
3/28 / Exam 2
Week 11 / Indiv1
4/02 / Ch 3: Individuals OR
IRS Pub 17, Ch 1-4
4/04 / Ch 5,9 (omit 9.9-.11),10: Individuals OR
IRS Pub 17, Ch 20-29
Week 12 / Indiv2
4/09 / Ch 9.9-.11; Deferred Comp. Reading (webpage) / Ch3 / TSOOF #5
4/11 / Ch 15, Alternative Minimum Tax / Ch 5,9, & 10 / TSR #4 (10 pts)
TSOOF #6
Week 13 / AMT
4/16 / Ch15 / TSF#4 (45 pts)
4/18 / EXAM 4
Week 14
4/23 / Ch 27: Estate & Gift Tax, pp. 1-18
4/25 / Ch 27, con’t., pp. 18-36 / Ch27A
Week 15 / E&G
4/30 / Ch 28: Estates & Trusts / Ch27B
5/02 / Ch 26: Tax Practice / Ch28
Ch26
5/06
3:00 / FINAL EXAM