BUS 463 | Principles of Taxation

The broad objective of this course is to provide students with a framework of how taxes affect individual financial planning and corporate business activities. The course focuses on fundamental concepts and develops a conceptual framework that incorporates the myriad tax rules and exceptions of the U.S. Tax Code. The focus will not be on learning all the technical details of the Code but on the understanding of tax policy as an organic whole. The course will also examine how taxes are used as an instrument of fiscal policy and to address social issues. This course is appropriate for students interested in accounting, taxation, investment banking, corporate finance, financial planning, and strategy consulting. This course has a major team research project that requires students to come up with research questions dealing with tax policy, construct a survey instrument, and prepare a research report based on the survey results and literature review on the attitudes and perceptions of American citizens about the current US Tax Code. Students are encouraged to volunteer in the IRS's Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs in the spring semester following this course.