ACCT 3510 - Individual Income Tax

Prerequisite: ACCT 1000 and at least junior class standing
Credits: 3

This course teaches the fundamentals of U.S. tax regulations as it pertains to the individual taxpayer. Students will gain an understanding of how various income types, including ordinary income, capital gains, business income, and retirement income, are recognized under current federal regulations. The course also covers the methodology for calculating different types of taxes, including self-employment tax, ordinary income tax, and capital gains tax. In addition, students will learn about the basics of tax credits, including the Child Tax Credit and education credits. By course end, students will be able to understand the impact of different income types, deductions, and credits on overall tax liability.