(TAX 501)
(TAX 501)
All rights reserved. No part of this publication may be
reproduced or transmitted in any form or by any means, electronic or
mechanical, including photocopy, recording, or any information storage and
retrieval system, without permission in writing from the copyright holder.
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University
(TAX 501)
Table of Contents
Introduction 1
Expected Student Learning Outcomes 2
Required and Optional Materials 3
Learning Resources 4
Communications with Other Students 4
Communications with the University 5
How You Will Be Graded for this Course 6
Course Completion Requirements 6
Lesson Assignment # 1 (Tax
Research in Perspective) 7
Lesson Assignment # 2 (The
Critical Role of Facts) 7
Lesson Assignment # 3 (The
Elusive Nature of Tax
Questions) 7
Lesson Assignment # 4 (Identifying
and Locating Appropriate Authority) 7
Lesson Assignment # 5 (Assessing
and Applying Authority) 7
Lesson Assignment # 6 (Communicating
Tax Research) 7
Lesson Assignment # 7 (Tax
Research in the
"Closed-Fact" Case: An Example) 7
Lesson Assignment # 8 (Research
Methodology for Tax Planning) 87
Lesson Assignment # 9 (The Case Brief) 8
Lesson Assignment #
10 (A Short Research Assignment) 9
Review Quiz
Questions 10
Course Submission
Checklist and Certification Form 142
Course
Evaluation Form 153
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(TAXTax XXX501Business
501)
This syllabus contains the Lesson
Assignments for
the above referenced course. Supporting
materials are included in a separate booklet.
This course is one of the required courses in the University's Master of Science in TaxationBusiness
Administration Program and its Master of Laws in Taxation Program. It has a value of XXXXtwofour
semester units. ItThe
course consists of tenXXXXeightsix
Lesson Assignments and a final examination.
This course must be
completed before any other courses in the Programs. It, along with Directed Tax Research (TAX 512), will
be graded on a “Credit/No Credit” basis. (All other courses will receive a numerical grade.) Other than TAX 512, it is also the only
course that does not require a
proctored final examination.
You should take the time to carefully read this syllabus and the
Student Handbook before you begin the lesson assignments.
The study of taxation can come as a
shock to many
students
because the subject matter is more difficult and the coverage more intensive
than in many graduate business or law school courses. This is one of the major reasons occupational experience is
required for admission to the M.S.T.
Program and recommended for the LL.M.
Program. However, we recognize “occupational” experience does not necessarily mean “research” experience. Hence the need for this introductory course.
The skills taught in this course will
greatly enhance your ability to achieve good grades in the other courses in the
program. Since students come to these
programs with vastly different backgrounds, we have assumed for purposes of the
lesson assignments, you know very little about tax research or case
briefings. However, even
experienced researchers should find the assignments a worthwhile refresher.
In addition to meeting the statutory requirements
of the California Education Code for degree granting institutions, the course has been
prepared to comply with the AICPA
Statement on Standards for Formal
Group and Formal Self-Study Programs for XX30 hours of
continuing education credit. It is
(Rev. 5/04)
University
(TAX 501)
also designed to
comply with the Statement on Standards
For Formal Continuing Education Programs as promulgated by the National
Association of State Boards of Accountancy (NASBA) as well as Treasury
Department Circular 230, which deals with continuing education for Enrolled
Agents.
The University is registered with the
National Association of State Boards of Accountancy as a sponsor of continuing
professional education on the National Registry of CPE Sponsors.
The University has also entered into
Sponsor Agreements with the Boards of Accountancy of the states of California, Florida, Georgia, Illinois, Indiana, Kentucky, New Jersey,
New York, Ohio, Tennessee,
Texas, and Washington. A similar
agreement has been entered into with the Office of the Director of Practice of
the Internal Revenue Service.
The State Bar of California has approved the University as
a provider of continuing legal education under Section 9 of the Minimum Continuing Legal Education Rules and
Regulations.
California attorneys should refer to information available from the
State Bar of California for requirements and limitations under the law.
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This introductory course is the
appropriate place to discuss and dismiss many of the myths associated with
entrepreneurs. The Kauffman Center for
Entrepreneurial Leadership has identified ten myths regarding entrepreneurship
which are discussed below.
Myths abound about the
entrepreneurial world and they especially prevail today. Entrepreneurs have once again become the
American heroes. They grace the covers of business journals; they star in
television shows; they write best-selling books. And they perpetuate
bigger-than-life myths. These Paul
Bunyan myths can get in the way of an organization’s or an individual’s
decision making about whether or not taking an entrepreneurial step makes
sense. Thus it is important to explore
these myths and to examine the facts.
Some common
misconceptions or myths could affect attitudes toward undertaking any type of
entrepreneurial ventures. Let us
explore these one by one.
Business is not
intrinsically high risk; but people sometimes take risky actions.
If people choose to put their homes up as collateral for a new venture,
this is their choice, not the business’s.
When a business is properly managed and set up, the risks are
modest. The wise and adept entrepreneur
selects a business and organizes
it in such a way that the risk is manageable.
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University
(Business 501)
To drive the point home:
Hundreds of sound businesses making good profits have been subsequently ruined
when taken over by
new management. The business was not
the risk—it was sound. The new people
were the risk. They were inept, inexperienced, and unmotivated.
Conversely, there have
been numerous turnaround situations in which failing businesses have been taken
over by new, more
adept management to great economic advantage.
There was nothing wrong with the old business, but there was a lot wrong
with the old management. With new management
installed, it was a new ball game.
Thus, the big risk is
the people, not
the business! High-risk businesses can
easily be spotted and avoided.