ACCT 403 - Federal Income Taxes I

(3 credits)

An explanation of the Federal tax laws and regulations in the simplest possible terms. Units covered: individual returns; rates; credits, gross income-inclusions, exclusions; sales and exchanges; capital gains and losses; business deductions; personal deductions; standard deduction; income averaging; inventories; installment sales; depreciation and depletion. Prerequisite(s): ACCT 102. Fall, Summer.