NEW MEXICO JUNIOR COLLEGE

Income Tax I

SYLLABUS

  1. GENERAL COURSE INFORMATION
  2. A. Course Title: Income Tax I
    B. Course Number: AC 233A - 10007
    C. Semester: Spring 2019
    D. Days/Time: W 6:00:00 PM - 9:00:00 PM
    E. Credit Hours: 3
    F. Instructor: Brister, Luke
    G. Office: C.M. Burke University Center (UC) 231
    H. Email Address: LBrister@nmjc.edu
    I. Office Phone: (575) 492-2657
    J. Office Hours: Monday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST); 5:00:00 PM-6:00:00 PM (MST);
    Wednesday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST); 5:00:00 PM-6:00:00 PM (MST);
    Friday: 8:00:00 AM-10:00:00 AM (MST); 11:15:00 AM-12:00:00 PM (MST);
    Other hours available by request.
    K. Time Zone: Mountain Time
    L. Prerequisite(s):
    M. Corequisite(s):
    N. Class Location: BUC238
  3. COURSE DESCRIPTION

    This course is designed as a first course in Federal Taxation for undergraduate accounting, business, and law students. The primary focus of this course is individual taxation including gross income, personal and dependency exemptions, filing status, deductions and losses, capital recovery, itemized deductions, alternative minimum tax, and tax credits. Students will solve tax problems utilizing computerized tax software as though they were actually filing tax returns. This is a three credit hour course. Prerequisite: AC 114.

  4. COURSE RATIONALE / TRANSFERABILITY

  5. REQUIRED / SUGGESTED COURSE MATERIALS

    Required:

    Bundle: South-Western Federal Taxation 2019: Individual Income Taxes w/ 6month printed access card
    ISBN 978-1-337-81336-5


    Suggested:
    None.

    You can buy your books online at the NMJC Bookstore.

  6. GRADING POLICY

    Students attending New Mexico Junior College will be evaluated according to the following grading scale:

    						90 - 100%	=	A
    						80 -  89%	=	B
    						70 -  79%	=	C
    						60 -  69%	=	D
    					 	 0 -  59%	=	F
    

    I use a percent of total points system to compute the grades for each section, (homework, quizzes, unit test, and practice set) that percentage is then multiplied by the weight factor to calculate your final grade.

    Homework 20%
    Tax Drills 20%
    Module Exams 30%
    Module zero 5%
    Final Project 25%

    No late work will be accepted.

  7. INSTITUTIONAL STUDENT LEARNING OUTCOMES

    New Mexico Junior Collegeís institutional student learning outcomes represent the knowledge and abilities developed by students attending New Mexico Junior College. Upon completion students should achieve the following learning outcomes along with specific curriculum outcomes for respective areas of study:

  8. DEPARTMENTAL STUDENT LEARNING OUTCOMES

    Students in the Business/Computer Science Departments should be able to:
    1) Demonstrate an understanding of industry specific ethics (self & community),
    2) Prepare and interpret documents,
    3) Interpret and characterize data appropriate to the course (critical thinking),
    4) Demonstrate computer skills appropriate to the course, and
    5) Demonstrate the value of professionalism in the workplace.

  9. SPECIFIC COURSE STUDENT LEARNING OUTCOMES

    By the end of this course, students should be able to:

    a. Describe different types of taxes imposed at the federal, state, and local levels.
    b. Work with Tax Law and conduct research.
    c. Prepare and apply the components of the Federal Income Tax Formula.
    d. Explain the concepts of gross income and realization and distinguish between the economic, accounting, and tax concepts of gross income.
    e. Prepare the computation of realized gains or losses on property dispositions, of business assets and personal assets.
    f. Differentiate between deductions for and from adjusted gross income and understand the relevance of the differentiation.
    g. Distinguish between deductible and nondeductible losses of individuals.
    h. Understand the rational for the cost consumption concept and identify the relevant time periods for depreciation, ACRS, and MACRS.
    i. Distinguish between employee and self-employed business expenses.
    j. Identify and distinguish itemized deductions.
    k. Discuss tax shelters and the reasons for at-risk and passive loss limitations.
    l. Explain the rationale and be able to compute Alternative Minimum Tax.
    m. Explain how the various tax credits are computed and used as a tool of Federal Tax policy.
    n. Compile and compute numerous tax returns.

  10. GENERAL/MISCELLANEOUS

    Students will be held responsible for the information on these pages.

    Academic Honesty
    Each student is expected to maintain the highest standards of honesty and integrity in online academic and professional matters. The College reserves the right to take disciplinary action, up to and including dismissal, against any student who is found guilty of academic dishonesty or otherwise fails to meet these standards. Academic dishonesty includes, but is not limited to, dishonesty in quizzes, tests, or assignments; claiming credit for work not done or done by others; and nondisclosure or misrepresentation in filling out applications or other College records. Cheating or gaining illegal information for any type of graded work is considered dishonest and will be dealt with accordingly.

    Americans with Disabilities Act (ADA) Information
    Any student requiring special accommodations should contact the Special Needs Student Services Coordinator at (575) 492-2576 or by e-mail at specialneeds@nmjc.edu.

    Attendance Policy
    Attendance is required at every session of each course for which the student is enrolled. When unavoidable circumstances make attendance impossible, students must provide a satisfactory explanation of their absences to their professors. College-sponsored activities are considered excused absences and the appropriate sponsor of those students who will be absent from class will notify professors. Students having absences due to college-sponsored activities will need to make arrangements with the affected classes / professor to take care of required work; however, arrangements for make-ups should be made within a reasonable time frame, usually within one week of the absence. Regarding make-up work, absences due to late registration are considered the same as regular absences.

    Cell Phones/Pagers
    All cell phones and pagers must be turned off when the student is participating in any lecture, laboratory, or other learning activity.

    Classroom Conduct
    The professor is responsible for maintaining a class environment best suited for effective learning. By registering for this class, the student is assumed to have entered into an agreement with New Mexico Junior College and the professor to attend the class regularly and to behave in an appropriate manner at all times. Disruptive behavior may result in the student being removed from the class.

    Food and Drink Policy
    Food items and soft drinks may not be consumed in NMJC classrooms. Students are also discouraged from bringing food and drink items into the classroom even though these items remain in sealed packaging. Bottled water is permissible.

    No Children in the Classroom
    In order to adhere to instructional procedures as well as maintain the safety of children, NMJC’s policy of no children in the classrooms (lecture, lab, etc.) will be followed.

    Plagiarism
    Offering the work of another as one’s own, without proper acknowledgment, is plagiarism; therefore, any student who fails to give credit for quotations or essentially identical expression of material taken from books, encyclopedias, magazines and other reference works, or from the themes, reports, or other writings of a fellow student, is guilty of plagiarism. Plagiarism violates the academic honesty policy and is considered cheating.

    Smoking/Use of Tobacco
    New Mexico Junior College is cognizant of the health hazards associated with smoking / use of tobacco for the smoker, as well as the non-smoker. In an effort to provide a healthy environment for students, employees, and others who may frequent the campus, NMJC prohibits smoking / use of tobacco inside any campus building or facility.

    Tutoring Assistance
    Free tutoring services are available to all NMJC students through Brainfuse and the Academic Success Center located at the Pannell Library on the 1st floor.

    Withdrawal Policy
    Regular, punctual attendance is required for all classes at NMJC. Although the professor has the right to drop any student who has missed the equivalent of 2 weeks of instruction (based on a 16 week semester) whether itís a face to face, online, or a hybrid course, it is not guaranteed that the professor will drop the student. If the student chooses to stop attending a class, he/she should withdraw from the class by accessing your student account in the T-Bird Web Portal at www.nmjc.edu, or submitting the required paperwork to the Registrar’s Office by 5:00 p.m. on Thursday, April 18, 2019. All students are encouraged to discuss their class status with the professor prior to withdrawing from the class.

  11. CRITICAL INCIDENT AND EVACUATION PLAN
  12. ACADEMIC CALENDAR
  13. FINALS SCHEDULE
  14. COURSE OUTLINE
    Thu Jan 17, 2019
    Sun Jan 20, 2019
    Sun Feb 10, 2019
    Sun Feb 17, 2019
    Sun Feb 24, 2019
    Sun Mar 3, 2019
    Sun Mar 17, 2019
    Sun Mar 31, 2019
    Sun Apr 14, 2019
    Sun Apr 21, 2019
    Sun Apr 28, 2019
    Sun May 5, 2019
    Wed May 8, 2019