MSC Southeast

Income Tax I

Course Description

This course covers individual income tax law as prescribed in the Internal Revenue Code of 1986. A brief overview of federal tax legislation provides a framework for understanding the law. The components of the tax formula are defined and discussed. The incremental nature of tax rates is explained, and tax rate schedules are used to compute sample cases. Gross income is defined along with exclusions and deductions, as well as various tax credits. Business deductions including depreciation are described and calculated in the last part of the course. (Prerequisite: None) (3 credits: 3 lecture/0 lab)

Download the Course Outline


© 2016 Minnesota State College Southeast

RED WING CAMPUS | 308 Pioneer Road | Red Wing, MN 55066 | 651-385-6300
WINONA CAMPUS | 1250 Homer Road | Winona, MN 55987 | 507-453-2700

Minnesota State College Southeast is an affirmative action/equal opportunity educator and employer. ADA accessible. MSC Southeast is committed to a policy of nondiscrimination in employment and education opportunity. No person shall be discriminated against in the terms and conditions of employment, personnel practices, or access to and participation in, programs, services, and activities with regard to race, sex, color, creed, religion, age, national origin, disability, marital status, status with regard to public assistance, or sexual orientation. In addition, discrimination in employment base on membership or activity in a local commission as defined by law is prohibited.

 

Minnnesota State Logo

A member of Minnesota State

Minnesota State consists of 37 colleges and universities with over 16,000 employees offering nearly 4,000 educational programs to nearly 400,000 students. It is the fifth-largest higher education system in the United States.
An affirmative action, equal opportunity employer and educator.

This document is available in alternative formats to individuals with disabilities by calling 877-853-8324 or 507-453-2700.