BUSACC 1252 - TAXATION FOR ENTITIES

Minimum Credits: 3
Maximum Credits: 3
The objective of this course is to help students understand how important features of the internal revenue code influence decisions regarding how to organize and structure business operations and select the most appropriate form of doing business. After beginning with a general discussion of regulations governing practice before the Internal Revenue Service (IRS), the course continues with a comparison of the issues surrounding the choice of taxable business entity, comparing the regular corporation (c corporation), the small business corporation (s corporation), the partnership, and the sole proprietorship. Further lectures incorporate determinations of entity tax bases and resulting tax obligations with special emphasis placed upon differences for each entity type. Tax planning is an integral part of the course. Income shifting, tax deductions, tax credits, income exclusions, book (GAAP) vs. taxable income, and mergers and acquisitions (M&A) are discussed in detail. The course uses case studies and tax return preparation to help students to apply the theory and details of the tax code. Course materials are updated as tax laws change.
Academic Career: Undergraduate
Course Component: Lecture
Grade Component: LG/SNC Elective Basis
Course Requirements: PREQ: BUSACC 1242; PROG: Pitt Business; PLAN: NOT CASBUS-UNK or BUSNB-MN

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