Overview
The first part of this course focuses on individual taxation, including the calculation of adjusted gross income, taxable income, and tax liability. Next, property transactions, capital gains, and like-kind exchanges are examined. Finally, the taxation of corporations and flow-through entities is addressed.
Note that different CPA state boards in the United States have different requirements, and not all states require a US tax course as a prerequisite for the CPA examinations. Please contact the appropriate CPA state board to see if this course meets the requirements of that state board, as some states limit the number of online courses or out-of-country courses they will accept as prerequisites.
TAXX 304 consists of nine lessons. Your best strategy for completing this course successfully is a continuous, systematic, and steady study effort. If you have any questions or points you don’t fully understand, give us a call, or send us an email, and we will be glad to help out.
The prerequisites for this course are ACCT 253: Introductory Financial Accounting (or an equivalent introductory financial accounting course from another college or university) and ECON 247: Microeconomics.
Outline
The course consists of the following nine lessons:
- Lesson 1: An Introduction to Taxation
- Lesson 2: Determination of Tax
- Lesson 3: Income, Exclusions, and Capital Gains
- Lesson 4: Deductions, Losses, and Bad Debts
- Lesson 5: Employee Expenses, Deferred Compensation, Depreciation, and Tax Accounting Methods
- Lesson 6: Property Transactions
- Lesson 7: Corporate Taxation
- Lesson 8: Pass-Through Entities
- Lesson 9: Tax Compliance and Tax Planning
Evaluation
Your final grade in this course will be based on two written assignments, a case study, and a final examination.
To receive credit for this course, you must achieve an overall course grade of at least D (50 percent). In addition, you must achieve a grade of at least D (50 percent) on the final examination. If your grade on the final examination is below 50 percent, you will not receive credit for this course, even if your overall course grade exceeds 50 percent.
Most CPA state boards that require an introductory US tax course as a prerequisite for the CPA examinations will accept D as a passing grade. Since each state board has different requirements, you should check your CPA state board’s website for its requirements.
Completion of the assignments is not required to receive credit for the course, and you may write the final examination prior to completing the relevant assignments. However, the assignments have been designed to assist you in preparing for the examination. Students who choose not to complete the assignments often experience difficulties with the examinations. Keep in mind that if you fail to submit an assignment before your contract end date, you will receive a grade of 0 percent for it.
The following table summarizes the credit weight that will be applied to each assignment and the final examination in determining your final grade:
| Activity | Weight |
| Assignment 1 | 20% |
| Assignment 2 | 20% |
| Assignment 3: Case Study | 10% |
| Final Examination | 50% |
| Total | 100% |
To learn more about assignments and examinations, please refer to Athabasca University’s online Calendar.
In response to COVID-19 containment directives, temporary online exam(s) are available for this course.
Materials
Digital course materials
Links to the following course materials will be made available in the course:
Rupert, T. J., Pope, T. R., & Anderson, K. E. (Eds.). (2019). Pearson’s federal taxation 2019 comprehensive. Boston: Pearson Education, Ltd. ISBN: 978-0-13-473830-7
Other Resources
All other learning resources will be available online.