Instructor: Dr. John P. Yeütter, Ph.D., C.P.A. , CFP^®
Office: BaT 114
Phone: (918) 444-2968
Personal Phone (918) 931-8257
E-Mail: yeutter@nsuok.edu
Class Hours: 08:00-08:50 MWF
Office Hours:
Text: Income Tax Planning for Financial Planners <
ISBN:978-0-9801299-0-8

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.

Additional Recommended Resources: It is recommended that the student have a financial calculator for all class meetings. For Examinations, numeric-display-only calculators may be used only. Calculators or other electronic devices capable of displaying text and/or graphics (including wireless telephones and PDAs) are prohibited.

DESCRIPTION: An introduction to federal and state income tax laws and regulations including taxable and nontaxable income, deductions, credits, types of entities, ethics, tax research and tax planning. Prerequisite: Accounting 2203.

OBJECTIVES: 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.

PARTICIPATION: Participation is an important part of the learning process. Being able to pose questions or propose solutions based upon reading or experience is a major portion of active learning and displays more than the ability to memorize, but also the ability to relate what has been read to the real world. Therefore, I expect students to have read the appropriate material before class time, and to come prepared with their questions concerning content and applications.

RESEARCH ASSIGNMENT: The research assignment is to investigate a Federal tax law change currently before Congress, and to write a letter to an appropriate legislator concerning this proposal. This project is due 03/14/08.

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.
• QUIZZES:The Multiple Choice porblems at the end of the chapter will be due on Blackboard for each chapter. These will be due each Wednesday prior to class.
• PROJECTS: There will be a tax preparation project, four (4) tax analysis projects, and a written research and analysis assignment, required as part of our learning activities this semester.

GRADING: Grades will be based upon formal written examinations and projects
Examinations and assignments are assigned points as follows:
   300 OBJECTIVE EXAMS (100 ea.)
   200 FINAL COMPREHENSIVE EXAM
   200 TAX ANALYSIS PROJECTS (4 @ 50 each)
    100 TAX RETURN PROJECT
    50 RESEARCH ASSIGNMENT
   150 QUIZZES
1000 TOTAL POINTS
Grades will be assigned according to the following schedule:
A: > 92% B: 84 - 92% C: 76 - 83% D: 68 - 75%

Any grade appeal must be made within four months after the end of the semester.

1. Class participation means interaction with fellow students and the instructor--not simple presence. Class comments will reflect reading and honest consideration of the viewpoints of fellow students.
2. Written examinations and the final exam will constitute the formal written evaluation instruments utilized in this course. Missed Exams cannot be made up.
3. Performance on examinations and subsequent cumulative course averages will be based upon definitive grade values as indicated: A: > 92% B: 84 - 92% C: 76 - 83% D: 68 - 75%
4. The final examination will be administered on Monday May 9, 2008.
5. Students are advised that pursuant to the Spring 2008 Academic Calendar, published in the NSU Spring Schedule, the last date during this semester when they may drop a course with an automatic "W" will be Monday, April 7, 2007. 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.
6. Grades for assignments will be posted on Blackboard in the Gradebook. 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-114. Office hours indicated above are also posted adjacent to the door.
7. 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.

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.

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.
Students violating the standards of academic honesty in this class will be subject to disciplinary action including, but not limited to: 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.

ATTENDANCE: 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 not allowed to miss any class periods without a direct penalty. Beginning with the first 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. In-class exercises and quizzes may not be made up.

ASSIGNMENT DUE DATES: The Online Quizzes are due before 0900 on Monday. 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, emailed, or sent through a digital drop box, will be lost and never graded.

Reading assignments are considered preparation for the lecture period. The student is responsible for all material assigned even if not discussed in class. Quizzes over assignments may be given without prior announcement. Projects turned in late will be charged a 10% "late filing" penalty. Late quizzes, or quizzes missed will not be graded.

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.