INSTRUCTOR: Dr. John P. Yeütter, Ph.D., C.P.A., CFP^®
Office: BT120
Phone: (918) 444-2968
Personal Phone (918) 931-8257
E-Mail: yeutter@nsuok.edu
Office Hours: 10:00 MWF 11:00 TR & 13:00 MT

COURSE TITLE AND NUMBER: INCOME TAX ACCOUNTING - ACCOUNTING 3003
CLASS DAYS & TIME: 10:30-11:45 TR
PREREQUISITES: Accounting 2203

COURSE PURPOSE: This Course is intended to cover Topics #44-58 of the Topic List for the CFP^® Certification Examination. It introduces students to the concepts of tax planning as an integral part of achieving an individual's financial goals. It stresses specific knowledge of tax calculation, accounting, and impact of business structures on an individual's taxes.
It also covers most CSOs prescribed for the CPA exam covering Individual Taxation, specifically, REG III, IV A-F, & V (IV G is covered in the Estate Planning Class, and VI is covered in ACCT 4003) Note:Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER™ and ,
which it awards to individuals who successfully complete initial and ongoing certification requirements.

STUDENT LEARNING OUTCOMES:
At the completion of the course, the student will be able to:

1. Prepare a pro-forma schedule computing taxable income and income tax, in an professional form, for Individuals
2. Determine whether a person is a dependent of another
3. Determine the appropriate filing status for an individual or family
4. Distinguish between taxable and non-taxable items of receipt
5. Distinguish between deductible and non-deductible items of expenditure
6. Compute cost recovery for fixed assets
7. Calculate the amount of recognized gain or loss, basis in, and the appropriate tax treatment, for
   1. Capital Asset Transactions
   2. Like-kind exchanges
   3. 1231 & 1245 asset Transactions
8. Compare and contrast the tax issues related to
   1. Individuals
   2. C-Corporations
   3. S-corporations
   4. Partnerships
9. Identify the source of current income tax law.
10. Discuss moral, ethical, and social issues related to tax law and tax practice.

INSTRUCTIONAL PROCEDURES: In addition to the textbook, Blackboard will provide a means of communicating to and evaluating students this semester.
For each chapter, there will be a module on Blackboard, which will contain:

• LEARNING OBJECTIVES: Specific Learning Objectives for the Chapter.
• OUTLINE:A Summary Outline of the Concepts from the Chapter.
• EXAMPLES:Examples Illustrating the Concepts from the Chapter.
• QUIZZES:This will include both The Multiple Choice problems at the end of the chapter and several fill-in-the-blank type questions

STUDENT PERFORMANCE ACTIVITIES: (Attendance/Punctuality) Consistent and punctual attendance is both expected and required for your successful completion of the course. Failure to attend class will affect the grade. ALL absences will indirectly reflect the grade due to the quality of work and material missed. A student is allowed to miss TWO (2) class periods without a direct penalty. Beginning with the third class missed, a one percent (1%) penalty will be deducted per class missed from the final grade. In addition, any student arriving late to class, or leaving early from class will be assessed a one half percent (1/2%) penalty from their final grade.
Under the VERY MOST EXTREME EXIGENT CIRCUMSTANCES, this penalty may be waived. To receive a waiver, students requesting relief under this clause must provide independent verification of these circumstances, in writing, within two (2) days of the missed class period. Students will be expected to make up any work missed as a result of absence, whether or not the absence was justified.

ASSIGNMENT DUE DATES: Assignments are due as indicated below on the Calendar Table:

STUDENT EVALUATION: Students will be evaluated in several different ways throughout this course.
• Exams: There will be three in-class exams, and a Comprehensive final exam. These will test your ability to integrate the knowledge discussed and apply it to situations.
• Multiple Choice Quizzes: The Multiple Choice problems at the end of the chapter will be due on Blackboard for each chapter.
• Objective Quizzes: Objective questions over each chapter will be posted on blackboard.
• I>Clicker Quizzes: Daily, one or more questions wiill be asked in class. I>Clicker will be used to record your responses.
• Projects: There will be multiple tax analysis projects, which will be used to assess whether you can apply the concepts learned to hypothetical fact situations. These will take several formats:
  1. Research and Analysis problems: You will be presented with a fact situation, and asked to reasearch the law applicable to the facts, and to produce a numerical analysis of the tax inplications of the situation. You will demonstrate competency in tax research and analysis by (1) producing a pro-forma spreadsheet, and (b) writing an advice memo in response to the sitution. There will be seven (7) such problems this semester.
  2. Legal Case Summary: You will read and summarize a Supreme Court Tax Case. You will demonstrate competency in this by writing a summary brief of the case.
  3. Legislation research: You will investigate current tax legislation. You will demonstrate competency in this by writing a persuasive letter to an appropriate legislator.
  4. Tax Return Preparation: You will prepare a 2011 tax return for an individual.
  5. Educational Presentation: You will prepare a presentation to educate or inform a group about an aspect of tax law. You will demonstrate competency in this by preparing a power-point presentation and script.
GRADING: Grades will be based upon formal written examinations, projects, and quizzes.
Examinations and assignments are assigned points as follows:
   300 - OBJECTIVE EXAMS (100 ea.)
   200 - FINAL COMPREHENSIVE EXAM
   350 - TAX ANALYSIS PROJECTS (7 @ 50 each)
    50 - COURT CASE BRIEFS (1 @ 50 each)
    50 - TAX RETURN
   100 - PRESENTATION
    50 - RESEARCH ASSIGNMENT
    50 - CLICKER QUIZZES
   200 - MC QUIZZES
   200 - OBJECTIVE QUIZZES
1,550 - TOTAL POINTS

Grades will be assigned according to the following schedule:
A: > 92% B: 84 - 92% C: 76 - 83% D: 68 - 75%

• MISSED TESTS : I believe that feedback is an important part of the learning process, and therefore expect to return exams and projects to you within two (2) days of the due date. Typically, I provide the answers to the examination to students upon exit from the exam. This poses a problem for those who are unable to take exams at the scheduled time. Students who do not communicate their absence to my by the time a test is completed will receive a zero (0) for that exam. In the case of the VERY MOST EXTREME UNFORSEEN EXIGENT CIRCUMSTANCES, students will be given the opportunity to take only one substitute exam along with the final exam. My determination of whether the VERY MOST EXTREME UNFORSEEN EXIGENT CIRCUMSTANCES existed will be dependent both upon the timeliness of notification by the student of their failure to attend, and upon the reasons given for that failure. Under all circumstances, students requesting relief under this clause must make a written request, and provide independent verification of these circumstances, in writing, within two (2) days of the missed exam.
• ASSIGNMENT DUE DATES: The Quizzes, Projects, and Assignemts are due before class-time on their due date. All quizzes and projects are to be submitted appropriately on Blackboard. No work will be accepted at any other time or place than in class and at the appointed time. Assignments slid under the office door or emailed, will be eaten by a frumious bandersnatch, or otherwise lost and never graded.
• LATE PROJECTS: Projects turned in late will be charged a 25% "late filing" penalty. Projects turned in more than one week late will receive 50% of the score they would otherwise receive. Late quizzes, or quizzes missed will not be accepted or graded.
• SO-SORRY DATE: Late assignments will be accepted until the So-Sorry Date (05/01). NO assignments will be accepted after that date.

OTHER INFORMATION:

1. Any grade appeal must be made within four months after the end of the semester.
2. Students are advised that pursuant to the Spring 2012 Academic Calendar, the last date during this semester when they may drop a course with an automatic "W" will be Sunday, April 8, 2012. If you decide to drop after this date, you will receive the grade you have earned up to the drop date. The grade of "W" will be assigned if your grade is a "D" or higher; and an "F" will be assigned if you have stopped attending and have not turned in assignments or have not taken scheduled exams prior to the drop date.
3. Grades for assignments will be posted on Blackboard in "Grades". Students wishing to visit with the professor about their standing in the class may visit him in his office which is located in the Business and Technology Building, Room BT-120. Office hours indicated above are also posted adjacent to the door.
4. Pursuant to Federal Law, The Federal Educational Rights and Privacy Act, no information about students or grades will be disclosed except through secure, verifiable communications.
   Communications by telephone and e-mail are not considered secure, and requests for information concerning grades by this means wil not receive a response.
5. INDEPENDENT PRODUCTION: Unless specifically specified as part of the assignment, I expect that all students will work and complete assignments independently. Students who present assignments whose work appears to have been prepared through collaboration will receive a zero (0) for that assignment.
OTHER ITEMS

All students must be familiar with the following federal, state, and regional regulations:

1. Academic Misconduct
2. American Disabilities Act Compliance
3. Inclement Weather/Disaster Policy
4. Teach Act
5. Textbook Information 
6. Release of Confidential Information
Academic Misconduct
Academic misconduct includes cheating (using unauthorized materials, information, or study aids in any academic exercise), plagiarism, falsification of records, unauthorized possession of examinations, intimidation, and any and all other actions that may improperly affect the evaluation of a student's academic performance or achievement, or assisting others in any such act or attempts to engage in such acts. Academic misconduct in any form is inimical to the purposes and functions of the University and therefore is unacceptable and prohibited.
Any faculty member, administrator or staff member may identify an act of academic misconduct and should report that act to the department head/college dean, Vice President for Academic Affairs or administrative supervisor.
Students violating the standards of academic honesty are subject to disciplinary action including reduction of a grade(s) in a specific course, assignment, paper, or project; a formal or informal reprimand at the professorial, dean, or academic vice president level; expulsion from the class in which the violation occurred; expulsion from a program; or expulsion from the university.

ADA Compliance
The Americans with Disabilities Act (ADA) is a federal anti-discrimination statute that provides comprehensive civil rights protection for persons with disabilities. Among other things, this legislation requires that all students with disabilities be guaranteed a learning environment that provides for reasonable accommodation of their disabilities. If you believe you have a disability requiring an accommodation, please notify your faculty member and contact Student Disability Services in Student Affairs: Tahlequah - Administration Building (918) 444-2120, Broken Arrow/Muskogee – Administration Building (918) 449-6149.

Inclement Weather / Disaster Policy
The following are basic premises for the inclement weather policy at Northeastern:


1. Classes are expected to be held if at all possible.
2. It is the student's and faculty's responsibility to receive the information when weather is questionable.
3. Neither students nor faculty are expected to risk life or limb.
4. Faculty members are obligated to hold classes if the university is not closed, unless the faculty member is unable to get to the campus.
Policy Statements
1. During times of inclement weather, decisions concerning day classes will be made by 5:00 a.m. in order for the media to be notified and for the students to receive the announcement before they leave home. Decisions concerning evening/night classes will be made by 1:00 p.m. if at all possible or feasible.
2. The following media will be notified regarding closing of the campus:

   Radio Stations

   Station	Channel	Location
   KRMG	740 AM	Tulsa
   KTLQ	1350 AM	Tahlequah
   KEOK	102 FM	Tahlequah
   KMMY (Y97)	97 FM	Muskogee
   KVOO	1170 AM	Tulsa
   KBEZ	92.9 FM	Tulsa
   KMYZ	104.5 FM	Tulsa
   KHTS	106.9 FM	Tulsa

   Television Stations

   Station	Channel	Location
   KJRH	Channel 2	Tulsa
   KOTV	Channel 6	Tulsa
   KTUL	Channel 8	Tulsa

Students are also encouraged to check the NSU telephone messaging service, NSU website and NSU email for updated information.

Approved by Academic Council – May 3, 1994
Updated – January 27, 2010
Approved by President's Cabinet – February 23, 2010

Teach Act
In accordance with the TEACH Act of 2002, you are advised that instructional material included in this course may be subject to copyright protection. As such, you must not share, duplicate, transmit, or store the material of this course beyond the purpose and time frame explicitly stated in the syllabus of your course. If you are not certain whether a particular piece of material is covered by copyright protection, you should contact your instructor and obtain her/his written clarification. Failing to observe copyright protection is a violation of law and the student code of conduct.
Textbook Information
Information on Barnes and Noble College Textbook Information.
Release of Confidential Information
University policies regarding family educational and privacy rights are governed by the Family Educational Rights and Privacy Act (FERPA). Copies of the act, policies, and regulations are maintained in the Office of Admissions and Records, NSU libraries, and the Office of the Provost/Vice President for Academic Affairs. Requests for release of student data to outside sources, other students, or other employees who do not have access to such information must have written approval from the Registrar.