San José State University Lucas College Of Business .

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San José State UniversityLucas College of BusinessAccounting and Finance DepartmentTax Factors of Business and Investment DecisionsBusiness 123A – Section 1Spring 2017Instructor:Office Location:Telephone:Email:Prof. Joel BuschBusiness Tower 861(408) 924-3494Via Canvas EmailOffice Hours:Tuesdays and Thursdays – 5:00 p.m. to 6:00 p.m.and by appointmentClass Days/Time:T and Th - 1:30 p.m. to 2:45 p.m.Classroom:Prerequisites:BBC 322BUS 20 with a minimum grade of "C" and declaredAccounting, Accounting Information Systems or CorporateAccounting Finance Major. Upper division standing.Lower Division Business Pool.Canvas Course WebsiteCourse materials such as syllabus, handouts, PowerPoint slides, notes, assignment instructions,etc. may be found on the Canvas learning management system course website. You areresponsible for regularly checking Canvas to learn of any course updates – including newmessages, readings and assignments.Page 1 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017

Course DescriptionIntroductory course in taxation with emphasis on certain themes that pervade the federalincome tax system and its impact on business. Property transactions, deferral techniques,accounting periods, accounting methods and research techniques with an emphasis on Ccorporations.Course Learning Outcomes (CLO)Upon successful completion of this course, students will be able to:CLO 1: Understand the legislative creation, judicial interpretation and administrative rulingprocesses and their interrelationships to Federal taxesCLO 2: Recognize major sources of economic and financial accounting income and expense thatare and are not includible as taxable income and tax-deductible expenses – including the publicpolicy rationale behind the inclusion / exclusion of certain items for Federal tax purposesCLO 3: Calculate taxable income and total tax liability for particular tax periods given certainapplicable taxpayer items including property sales and exchanges, cost recovery allowances,alternative minimum tax, preferential tax rates and other items of taxable income and deductionsCLO 4: Detail the fundamental ethical issues surrounding the tax profession – including requiredand optional licensing requirements and knowing the difference between legal tax avoidance andillegal tax evasionCLO 5: Explain the tax determination impacts between deductions and credits – including thedetailed calculations and requirements of certain tax creditsCLO 6: Understand and apply Federal tax rules specific to subchapter C corporations – includingcorporate distributionsCLO 7: Prepare an intermediate-level corporate Federal income tax returnCLO 8: Understand various ethical and legal impositions on tax professionals and their workproductRequired Texts/ReadingsTextbookYou must have the required (current version) textbook (see below) for the course and bring it toclass every session as many in-class questions, graded quizzes and exercises will utilize thetextbook materials.Some of the lower-priced purchase options available for you include:1) A loose-leaf version of the textbook (with the REQUIRED LMS version of theCengageNow online homework system) - Raabe/Maloney/Young/Smith/Nellen's SouthWestern Federal Taxation 2017: Essentials of Taxation: Individuals and Business Entities,20th edition can be found at the Cengage website [the first 337359061, orPage 2 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017

2) An electronic-only version of the textbook: Raabe/Maloney/Young/Smith/Nellen'sSouth-Western Federal Taxation 2017: Essentials of Taxation: Individuals and BusinessEntities, 20th edition (with the REQUIRED LMS version of the CengageNow onlinehomework system) can be purchased through Cengage at http://www.cengagebrain.comat use the following ISBN: 978-1-305-87498-5 [the second option]:3) Alternatively, the loose-leaf version of the textbook noted in option #1 above may bepurchased at the SJSU bookstore.SPECIAL NOTE (VERY IMPORTANT) Regarding the Required CengageNow OnlineSystem – If you decide to purchase a hardcopy of the textbook without the CengageNow OnlineAccess Card included (for example, you purchase a used copy of the textbook), you mustpurchase the CengageNow Access Code (option #2 above) separately through Cengage.Homework: Homework assignments are assigned throughout the course.The primary purposes for the homework assignments are to assist you in understanding thecourse subjects and to prepare you for the exams.All homework assignments must be taken and submitted using the online CengageNow system.Only with advanced consent of the instructor and under very limited circumstances mayhomework assignments be turned in other than through the CengageNOW online system. Assuch, you are responsible for ensuring that you purchase the CengageNOW system insufficient time before the first (and subsequent) assignments are due.You will normally receive your scores immediately after you complete each homeworkassignment. Unless instructed otherwise, you can re-take the assignment as many times as youneed to up until the due date of the assignment until you reach a 100% score to receive full creditfor the homework assignment. Homework scores with less than a 100% score and those turned inlate are subject to point reductions. Late submissions of homework will only be allowed withconsent by the instructor. If no consent is given by the instructor, your score for that particularhomework assignment will be zero. For some homework assignments where an alternativescoring system to that stated above is in place, an announcement will be made in class and/orposted on the Canvas website.Reading Assignments: For the assigned pre-class readings "Chapter" and “Sections” refer toyour textbook. Other supplemental reading assignments will be posted on Canvas and/or given outin class.Tax Return Project: A tax return project is required for this course. This is an individual andnot a group project. The project is designed to give students practical experience in preparing aFederal tax return. Online tax research may also be required. A substantial amount of points maybe deducted for late submissions of the research project.Quizzes:There will be six (6) in-class quizzes during the semester. The four highest quiz scoresduring the semester will be counted. Unlike the exams, the quizzes will be open book. Unlessstated otherwise, quiz exam answers will require the use of a Scantron form (Version 882-E). AsPage 3 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017

such, you must have a Scantron form for every class session in the event a quiz is administeredthat day. No quiz work is to be completed after the quiz period has ended. Any studentundertaking quiz work (including filling-in scantron boxes) after the quiz period has endedis subject to a zero score for the quiz and additional disciplinary actions pursuant toUniversity policies.Three midterms and a final examination will be given. Only one 8.5” x 11’ page ofnotes may be brought into the class for all examinations. You may handwrite or type (or acombination thereof) your notes on both sides of the single page. No other materials may beutilized. You must use the calculator provided to you by the instructor unless prior arrangementsare made. No exam work is to be completed after the examination period has ended. Anystudent undertaking exam work (including filling-in scantron boxes) after the exam periodhas ended is subject to a zero score for the exam and additional disciplinary actionspursuant to University policies.Exams:Unless stated otherwise, all submitted exam answers will require the use of a Scantron form(Version 882-E)Grading Policy:Course grades will be determined on the basis of total points earned in theclass. Please see below for additional information on grading:CengageNow HomeworkAssignments (17)170 points(10 points each)Quizzes60 points(15 points each for the four highest)Tax Return Project70 pointsMidterm Exams200 pointsFinal Exam150 pointsTotal Possible Points650 points(100 points each for the two highest)Because the lowest score of your three midterm exams are dropped, under almost allcircumstances there are no make-up exams. On rare occasions and at my discretion, students maybe allowed to make up an exam. Students must give advance notification with documentation inorder for me to make a decision regarding a make-up exam. If an exam is missed without priorconsent, the exam grade is zero under almost all circumstances. All exams must be taken on thescheduled date and time detailed on the assignment schedule unless approved in the advance bythe instructor.The final exam score cannot be dropped and must be taken.Extra credit is not available for this course.Grades will follow the pattern of 90% or higher for an A, 80% or higher for a B, 70% orhigher for a C, etc. Plus ( ) and minus (-) grades will be used for scores within twopercentage points (rounded), of the grade breakpoint (for example, 92% for an A- grade). IPage 4 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017

may lower the percentage required to earn a certain grade, however, I will not raise thepercentage.Class Participation: While you are encouraged to ask or answer questions in class, points willnot be awarded for class participation.Classroom ProtocolLucas College and Graduate School of Business: Program Goals and Class room ndex.htmlUniversity PoliciesPer University Policy S16-9, university-wide policy information relevant to all courses, such asacademic integrity, accommodations, etc. will be available on Office of Graduate andUndergraduate Programs’ Syllabus Information web page at: College and Graduate School of Business:Mission: We are the institution of opportunity in Silicon Valley, educating future leadersthrough experiential learning and character development in a global business community and byconducting research that contributes to business theory, practice and education.Tax Factors of Business and Investment DecisionsBus. 123A – Section 1 – Spring 2017Tuesdays and Thursdays 1:30 p.m. to 2:45 p.m.(SCHEDULE IS SUBJECT TO CHANGE WITH FAIR NOTICE)(Any changes will be announced in class and/or posted on Canvas)Course ScheduleSessionDateSpecialClass TopicReading Due Before ClassProjectsDue11/26Introduction to courseThIntroduction toCengageNowSection 1-1 (Structure ofTaxes)Section 1-2 (Types of Taxes)Introduction to TaxesPage 5 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017Homework andOther Activitiesto CompleteBefore Class

SessionDateSpecialClass TopicReading Due Before ClassProjectsDue21/31TIntroduction to DifferentSection 1-3 (Introduction toTypes of Business Entities Comparison of Taxation ofBusiness Entities)Federal Tax LawHierarchySections 2-1a through 2-1c (upto Appellate Courts section)Gross IncomeSections 4-1 through 4-2Homework andOther Activitiesto CompleteBefore Class1) Register forCengageNow2) Registeryour onlineaccount withCengageBrain32/2Gross Income – Periodsand MethodsSections 4-3 through 4-5(skip Section 4-5f)4Th2/7TBusiness DeductionsSections 5-1 through 5-4CengageNowAssignment #152/9ThBusiness Deductions(Continued)Sections 5-6 and 5-7CengageNowAssignment #262/14TBusiness Deductions(Continued) – IncludingMeals and Entertainment,Club Dues and BusinessGiftsSections 5-8a through 5-8i;Section 5-9CengageNowAssignment #3Losses and LossLimitationsSections 6-1; 6-2a (SkipSection 6-2b); 6-3a through 63d and 6-4CengageNowAssignment #4Section 1-4a & SupplementalReading Posted on CanvasCengageNowAssignment #572/16Th82/21TEthics; Introduction toSpecial Tax Forms;Representation of Clientsand the Tax Profession92/23ThExam #1 Review102/28TExam #1Chapters 1, 2, 4, 5, 11 &6 and on SupplementalReadings and TopicsSect. 11-3fCengage NowAssignment #6Page 6 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017

SessionDateSpecialClass TopicReading Due Before ClassProjectsDueHomework andOther Activitiesto CompleteBefore Class113/2ThProperty Transactions –General Basis Rules andGains/LossesSections 7-1 through 7-2(Skip Sections 7-2b and 7-2c)123/7TProperty Transactions –§1031 Like-KindExchangesSections 7-3 through 7-4 &CengageNowSupplemental Reading onAssignment’s DiggingDeeper on Deferred Like-KindExchanges (Sect. 7-4b)(Skip Sections 7-5 and 7-6)133/9ThProperty TransactionsCengageNowAssignment #8143/14T3/16ThProperty TransactionsSections 8-1 through 8-6(Skip IRC §1237 real propertysubdivided for sale in Sect. 82b; Skip Sect. 8-3a)Sections 8-7 through 8-9Property TransactionsSections 8-10 through 8-11CengageNowAssignment#10163/21TExam #2 Review173/23ThExam #2Chapters 2 (Sect. 2-2), 7,8 & on SupplementalReadings and TopicsNo Class – Spring Break153/28T18193/30ThNo Class – Spring Break4/4T4/6ThTaxation of CCorporationsTaxation of CCorporations (Continued)CengageNowAssignment #9CengageNowAssignment#11Sections 12-1 through 12-3Sections 12-4 through 12-5ePage 7 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017CengageNowAssignment#12

SessionDateSpecialClass TopicReading Due Before ClassProjectsDue204/11TCorporations: E&P andDividendsSections 13-1 through 13-2214/13Th4/18T4/20ThCorporations: E&P andDividends (Continued)Sections 13-3 through 13-5Corporations: E&P andDividends (Continued)Sections 13-6 through ngageNowAssignment#13Exam #3 ReviewExam #3Chapters 12, 13 &Supplemental Readingand TopicsBusiness Tax CreditsSections 17-1a; 17-1c; 17-d &17-1iCorporate AlternativeMinimum Tax (AMT)Section 17-2 (focus onSections 17-2f and 17-2g;skim rest of Section 17-2)Employee vs. Independent Sections 1-2b and 11-1;Contractor; SelfSupplemental ReadingEmployment and PayrollTaxes; Affordable CareAct’s Employer MandateComparison of Forms ofSections 14-1 (skip 14-1d); 14Business Entities2a; 14-5; 15-1; 15-1; 15-2a andSupplemental #17275/4Th285/9T295/11ThComparison of Forms ofBusiness Entities (Cont.);Useful and Practical TaxResearch Techniques;Best Office Practices305/16T5/23TFinal Exam Review31Homework andOther Activitiesto CompleteBefore ClassSection 2-2 and SupplementalReading Posted on Canvas12:15 to Final Exam: Cumulative2:30 pmPage 8 of 8Tax Factors of Business and Investment Decisions – Bus. 123A – Sect. 1 – Spring 2017CengageNowAssignment#15CengageNowAssignment#16

Western Federal Taxation 2017: Essentials of Taxation: Individuals and Business Entities, 20th edition can be found at the Cengage website [the first option]: . South-Western Federal Taxation 2017: Essentials of Taxation: Individuals and Business Entities, 20th edition (with the REQUIRED LMS version of the CengageNow online .