3 credit hours
This advanced course provides an in-depth exploration of federal income tax principles, with a focus on tax planning strategies and the impact of tax policy on individuals, businesses, and investments. Students will develop a comprehensive understanding of federal tax laws, including the Internal Revenue Code and Treasury regulations, as well as tax implications for various income categories and entity types. Topics covered include income recognition, deductions, credits, tax deferral, tax avoidance techniques, estate and gift taxation, and the alternative minimum tax. Through case studies, problem-solving exercises, and applied tax research, students will learn to evaluate tax scenarios and develop strategic tax plans for real-world situations, emphasizing ethical considerations and compliance. By the end of the course, students will be equipped to advise on tax-efficient structures and transactions that align with current tax regulations and policy changes.