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ACTG 424 – INTRODUCTION TO TAXATION

 

 

Fall 2016– Austin 222

Section 001 CRN#17856 - MW 4:00-5:50 p.m.

 

Instructor:  Peter Frischmann (Pete)                                         

Office:  Austin 417                                                                  

Office Hours:  MW 2:00-4:00 p.m. (or by appointment)             

Phone: 541-737-2616

Email:  peter.frischmann@bus.oregonstate.edu

 

Text:  Principles of Taxation for Business and Investment Planning:  2017 Electronic Edition with Connect and Learn Smart by Jones and Rhoades-Catanach.  ISBN 978-1-259-752988 (McGraw-Hill website) or 978-1-260-082241 (OSU Bookstore). The class URL is:

https://connect.mheducation.com/class/p-frischmann-accounting-424---introduction-to-taxation---fall-2017

 

Objectives:  This class is designed to meet two major objectives.  First, it is a technical introduction US income tax with emphasis on general and business related topics.  Second, it provides a framework for students to launch further study in the tax area.  Students will be encouraged to supplement text materials with readings from the Internal Revenue Code and Regulations as well as secondary tax research services.

 

Prerequisites:  ACGT 319 with a grade of “C” or better

 

Attendance:  Daily attendance is expected.  Students will be held responsible for all information covered in class and in assigned readings.  Nonattendance is at your own risk!!!

 

Grading:  Your course grade will be a weighted average of the grades on the items below.  A student can earn no more than one full letter grade above his or her exam average grade:

 

Item                                                                 Weight

Class Attendance, Participation and Homework   20%

Research Project                                               10%

Exam 1                                                            20%

Exam 2                                                            20%

Comprehensive Final Exam                               30%

            Total                                                    100%

 

For example, on our “4 point” scale with A=4 and F=0, a student with grades of C,C, B, F, and B on items 1-5, respectively would earn a grade of “C” computed as follows:

 

The weighted average grade is computed as {(2*.20)+(2*.10)+(3*.20)+(0*.20)+(3*.30)} = 2.1 = C

(The “C” grade range;  C-, C, and C+ would be from 1.50 to 2.50.)

 

                                                                                                                                   


 

The “Flipped Classroom.”  Research in learning has shown that students tend to learn and retain more in an atmosphere that requires significant student preparation before class and classroom time is used for reinforcement and group activities.  The class is called “flipped” because students read the material and attempt exercises before coming to class.  Lecture becomes a minor portion of class time as students (and the instructor) already know the areas of difficulty and concentrate class time on reinforcement of those concepts.

 

Your electronic edition of the text is designed for such a “flipped” classroom.  It contains 3 major tools:  (1) the traditional text in electronic version, (2) electronic versions of the text homework problems, called Connect, and (3) a study tool called LearnSmart that helps you read and study the chapter with a combination of questions connected to text discussion.

 

Attendance, Participation and Homework Grade:  Each class period is worth 1-3 points of credit for this portion of your grade earned from the following: (1) attending class, (2) preparing problems in advance on Connect, and (3) completing in advance a LearnSmart module.  There is no required minimum score for any of the problems and answers are immediately available electronically.  You are expected to make a reasonable attempt at each problem for credit. You are encouraged to work the Connect problems on paper, then transfer your answers to the electronic media.  This will allow you to have notes as to how you solved the problems.  These notes could be very helpful in class as well as a study aid.

 

Chapter Outlines:  Although not required, a good way to prepare for exams is to outline each chapter covered.  The outlines are to be mostly in your own words and limited to 3 typed (or handwritten) pages with reasonably sized font.  The objective of these outlines is to help students extract the general tax rules from the vast amounts of specific detail in tax law.  Past students have commented on how helpful this exercise is for both the class and the CPA exam.

 

Exams: There will be two midterm exams and a comprehensive final.  Midterm exams will be given during regularly scheduled classes. Makeup exams will be given only in extremely rare cases.  If, for any reason, you feel you will not be able to sit for an exam, you MUST contact the instructor ahead of time to discuss your situation.  Exams are closed-book, however, you may bring your Chapter Outlines noted above to the exam.

 

Research Project:  A research project will be assigned during the quarter.  The project will be due according to the schedule listed below.  More details will be provided during class.

 

Grading Disputes:  Students who believe that an error has been made in the grading of an exam or assignment should submit a written request for re-grading within one week of the originally graded work being returned in class.  This request must identify the item in question and provide support and research if necessary as to why the item has been graded erroneously.  The submission of this request will result in the re-grading of the entire exam.

 

Withdrawal:  University policy will be observed.

 


 

University, College and Departmental Policies:

 

Accommodations for Students with Disabilities:

…are determined and approved by Disability Access Services (DAS). If you, as a student, believe you are eligible for accommodations but have not obtained approval please contact DAS immediately at 541-737-4098 or at http://ds.oregonstate.edu. DAS notifies students and faculty members of approved academic accommodations and coordinates implementation of those accommodations. While not required, students and faculty members are encouraged to discuss details of the implementation of individual accommodations.

 

College of Business Honor Code:

A code of honor represents the moral commitments of those abiding to it. While each person lives by his or her personal code, the establishment of collective values creates a universal goal to which we can aspire. It is through the pursuit of these professional attributes that we reduce the possibility of immoral actions ourselves. In order to uphold our personal character and the organization that we proudly call our own, we take this oath.

Integrity
The quality of being honest and having strong moral principles, integrity stands as the backbone of character and is essential for success.

Respect
Respect for others and yourself is a commitment to the fair treatment of and the fair competition with others. Through respect we embolden the character of others and ourselves.

Responsibility
We are held accountable for our words and actions as professionals to embed a steadfast commitment to honor in our decisions.

 

Academic Dishonesty:

According to OSU student conduct regulations, academic dishonesty is defined as an intentional act of deception in which a student seeks to claim credit for the work or effort of another person or uses unauthorized materials or fabricated information in any academic work. Refer to the OSU Student Conduct code (576-015-0020) for a comprehensive definition of academic  dishonesty. All cases of suspected academic dishonesty will be handled in strict accordance with OSU policy and College of Business policy.

Accounting Program Policies:

Computer and smart phone use

Student learning is the primary objective of the Accounting Program.  Recent research suggests that students learn less when they text in class or use computers to take notes.  Further, nearby students learn less when students text or have computers that are open during class time (see http://bokcenter.harvard.edu/blog/use-mobile-devices-college-classroom and http://www.wsj.com/articles/can-handwriting-make-you-smarter-145784659 for relevant articles on student learning in the presence of texting and open computers).

 

Because of the detrimental effects on learning from texting and open computers the Accounting Program prohibits student use of computers, smart phones, tablets or other such devices during accounting program courses except when the devices are required by the instructor as part of the learning process.  

 

Addendum for Introduction to Taxation

During class, students will be expected to have available and use internet access to tax research materials, the online textbook, PowerPoints, notes, etc.  All in-class use of electronics is to be restricted to class subject matter.

 

Calculators during examinations

In order to ensure that all students have equal opportunity for success the Accounting Program limits the use of programmable calculators during examinations. 


 


Accounting 424 - Fall 2016 - Assignment Schedule

Date

Topic

Reading

Problems

W 9/21

Introduction

Chapter 1

LearnSmart-Ch 1

Connect AP 1,4,7

Other Not Collected:

DQ  2, 6, 8, 12, 15;  IR 1,5,8

(Assignment not graded)

M 9/26

Policy Issues: Standards for a "Good" Tax

Chapter 2

LearnSmart-Ch 2

Connect AP 4,5,7

Other Not Collected:

DQ  2, 5, 6, 9, 15, 17; IR 3,4

W 9/28

Taxes as Transaction Costs

Chapter 3

LearnSmart-Ch 3

Connect AP  8, 11, 13, 14, 16

Other Not Collected:

DQ  2, 3, 4, IR  5, 6, 7, 8

M 10/3

Taxes as Transaction Costs

Chapter 4

LearnSmart -Ch 4

Connect AP  11, 15, 16, 19;

Other Not Collected:

DQ 1,7,14; IR  2, 3, 4; PC  4

W 10/5

Taxable Income from Business Operations

Chapter 6

LearnSmart Ch 6

M 10/10

Taxable Income from Business Operations

Chapter 6

Connect AP 1, 10, 24, 27, 31,

32, PC 2; Other Not Collected:

DQ 8, 14, 30; IR  7, 11;

W 10/12

Property Acquisition and Cost Recovery

Chapt 7

Connect AP  2, 3, 7, 8, 9, 12,

thru p. 182

13, 17

M 10/17

Catch-up and Exam Review

W 10/19

First Exam

Chapt 1-4, 6, 7 thru p. 182

M 10/24

Cost Recovery

Chapter 7

LearnSmart Ch 7

Connect AP 28, 30, 31; PC 4

W 10/26

Property Distributions

Chapter 8

LearnSmart Ch 8

M 10/31

Property Distributions

Chapter 8

Connect AP 2,7,11,18,23,PC3

Other Not Collected:

DQ  1, 24, 28, 30, 35, 39; IR 1

W 11/2

Nontaxable Exchanges

Chapter 9

LearnSmart Ch 9

M 11/7

Nontaxable Exchanges

Chapter 9

Connect AP  2, 3, 9, 12,

13, 15, 18, 21, 25, 27, 28, 30;

PC 2

W 11/9

Nontaxable Exchanges and Review

Chapter 9

M 11/14

Second Exam

Chapt 7,8,9

W 11/16

Flow-through Entities

Chapter 10

LearnSmart Ch 10

M 11/21

Flow-through Entities

Chapter 10

Connect AP  1, 3, 8, 15, 16,

20, 21, 22, 23, 25, 28; PC  4

W 11/23

Tax Research

Chapter 5

LearnSmart Ch 5

Work in class on research

case

M 11/28

Corporations

Chapter 11

LearnSmart Ch 11

Connect AP  2, 3, 5, 7, 8, 10,

12, 18, 22, 23, 25; PC  4

W 11/30

     

Research Case Due

Friday 12/9 Final Exam - Austin 222 7:30 in the Morning!!!!!!!!!!!!!!!!!

NOTE:  You can use the following key to identify the appropriate homework problems in the text:

   DQ – Questions and Problems for Discussion

   AP – Application Problems

   IR – Issue Recognition Problems

   RP – Research Problems

   PC – Tax Planning Cases