Research (4)Drexel University – LeBow College of BusinessIndividual Income TaxesFall Term – TAX 620Objective: To provide students with an introduction to the theories of taxation with anemphasis on individual taxation. This course will also include an introduction to tax research and allow for students to use this skill throughout the term. This course will use a variety of sources to allow the student to gain an understanding of the topic.Instructor: Stacy Kline, CPAOffice: 504J Matheson HallOffice Phone: 215-895-5866Email: [email protected] Hours: Thursday 2-5 and by appointmentText: Federal Taxation Individuals, 2007 Edition, Pope, Anderson and Kramer, Prentice Hall Publishing. ISBN 0-13-243220Midterm Project: The midterm will consist of preparing a Form 1040, Individual Tax Return, with all a written description and resolution of tax issues, supporting schedules and providing detailed calculations. It will be a take-home project and will include all material covered in class through the seventh week of class. The project is due in class on November 16th.Final Exam:The final exam will be multiple choice and/or problems. The exam will be open book and it will be cumulative. The final exam is scheduled for December 14th.Research Problems:Four research problems will be assigned during the course of the term and are due at the beginning of the next class. Each research problem will be worth 50 points towards your final grade. The problem should be submitted in memorandum format addressed to the instructor. The tax research memo format must include the following parts: Facts (statement of facts), Issue (the question you are trying to answer), Discussion (discussion of the appropriate tax law and how it applies to the problem at hand – this is the body of your memo), and Conclusion (a summary of your answer in a few sentences. All sources should be cited, using the proper tax format, in the research problem. Research problems will be assigned in class and due the following week with a short discussion on the problem.Homework:You should read the assigned materials and make a genuine attempt to complete the chapter problems for class discussion prior to each session. Homework problems will be discussed in class only as necessary. The solutions for many of the textbook problems will be made available to you on my website. Please use them intelligently.Drexel University – LeBow College of BusinessIndividual Income TaxesFall Term – TAX 620Grading:RawPointsYourScoreMidterm Project 250Final Exam 300Research (4) 200Total Points Available 750Final course grade distributions for the points earned are as follows:GradePoints Grade Pointsa+ 735-750 b+ 655-670A 695-730 b 620-650a- 675-690 b- 600-615c+ 580-595 d+ 505-520C 545-575 d 450-500c- 525-540 f <450**NOTE: class participation grade points must be earned through attendance, participationand completed homework at every class. You begin the term with zero grade points and earnthe points for each class.Academic Honesty 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 details see: http://www.drexel.edu/studentlife/judicial/honesty.htmlhttp://www.drexel.edu/StudentLife/studenthandbook/Handbook05-06.pdf (pp.50-52)Forms of academic dishonesty include plagiarism, fabrications, cheating, and academic misconduct. Students are responsible for the authenticity of material submitted both for individualand 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 ofacademic dishonesty will receive a grade of zero.Students with Disabilities: Student with disabilities requesting accommodations and services at Drexel University needto present a current accommodation verification letter (AVL) to faculty before accommodationscan be made. AVL’s are issued by the Office of Disability Services (ODS). For additionalinformation, 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.Drexel University – LeBow College of BusinessIndividual Income TaxesFall Term – TAX 620Class Schedule:Date Topic Chapter Graded Assignments28-Sep Introduction 1 Tax Research 15 Determination of Tax25-Oct Determination of Tax 2 (cont’d)Research Problem #1 3-65 Gross Income Inclusions3 12-Oct Gross Income Exclusions4 Research Problem #2 5-71 Property Transactions5 19-Oct Deductions and Losses6 26-Oct Itemized Deductions7 Midterm Project Distributed Research Problem #3 7-682-Nov Losses and Bad Debts8 9-Nov No class - work on midterm project 16-NovEmployee Expenses and Deferred Compensation9 Midterm Project Due Research Problem #4 9-8523-Nov Thanksgiving - No Class 30-Nov Depreciation and Cost Recovery10 7-Dec Review for Final Examopen 14-Dec Final