AEM 4560

Federal Income Taxation of Business Entities, Estates and Trusts

Course Description

Course information provided by the Courses of Study 2022-2023.

This course presents the tax skills necessary to make business decisions regarding Corporations, Partnerships, Estates and Trusts. Emphasis is placed on such areas as organization and capital structure, earnings and profits, dividend distribution, redemptions, liquidations and reorganization of corporations. In addition, flow through entities such as partnerships and S Corporations will be studied along with estates, trusts, family tax planning and exempt entities. Practical application of the tax law will be emphasized with proper consideration placed on the historical, economic and political perspectives of the Internal Revenue.

When Offered Spring.

Prerequisites/Corequisites Prerequisite: AEM 2210 or AEM 2225 or equivalent.

• Identify the principles of federal taxation as it relates to corporations, partnerships, gifts, estates, and international transactions.
• Explain the tax implications regarding exempt entities.
• Compare the practices available to achieve maximum understanding of current legislation.
• Develop an understanding of the procedures relating to proper fundamentals of tax preparation and reporting.
• Provide individual competence in the preparation of income tax returns.
• Stimulate their problem-solving abilities and critical thinking skills.

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