COURSE TITLE:   Federal Income Taxation

UNITS OF CREDIT:     4

INSTRUCTOR:  Gary McBride

CLASS WEB PAGE LOCATION:   None yet, stay tuned.

E-MAIL ADDRESS: mcbride@haas.berkeley.edu

MEETING DAYS/TIMES:  Tuesday/Thursday  12:30 to 2:00 PM, C220 Cheit

PREREQUISITE:  120

CLASS FORMAT:  Lectures and Two Research Assignments

REQUIRED READINGS:   Textbook and a few articles on Internet tax issues

BASIS FOR FINAL GRADE:

  Five Quizzes (lowest dropped)       15%
  Midterm           35%
  Two Tax Planning/Research Projects (2-3 Pgs)  10%
  Final Exam          40%

ABSTRACT OF COURSE’S CONTENT AND OBJECTIVES:

Objectives:

To introduce students to a broad range of tax concepts and types of taxpayers
To emphasize the role of taxation in the business decision-making process.
To provide students with the ability to conduct basic tax research and tax-planning.
To provide students with a knowledge of the interrelationship and differences between financial accounting and tax accounting.
To introduce students to tax policy matters in the context of the current debate regarding Internet taxation.

Content:

Using as a textbook, West Federal Taxation:  An Introduction to Business Entities, the emphasis is on business taxation.   The first two chapters cover the various types of taxes in the U.S. system, conceptual underpinnings of the Federal income tax system, a tax planning framework, and tax research methodology.   Coverage of these topics provides the skills for the two assigned planning and research problems as well as other problems in the text.   Chapters 3 through 8 focus on income, deductions, losses, and property transactions.  While topics in these chapters concern both individuals and businesses, the emphasis is on the taxation of business entities.  Chapters 9 through 14 deal with the formation and operation of regular corporations, S corporations, partnerships, limited liability entities, and sole proprietorships.  Chapter 14 concludes this segment by comparing  the tax consequences of the different business entity forms within a tax-planning framework.   The final chapters, 15 and 16 address individual taxpayers.

In light of time constraints, coverage of selected portions of certain chapters will be limited.

In order for students to appreciate tax policy issues, the current debate regarding Internet taxation will be explored.   Students will read current articles on the subject

BIOGRAPHICAL SKETCH:

Executive Director of the Center for Financial Reporting and Management at Haas.    Attorney and CPA who served the IRS as a revenue agent, special agent, and later as a technical advisor in the IRS National Office.  Specializes in international taxation and teaches “International Tax Strategies” in the Haas MBA Program.  Of Counsel to the Silicon Valley CPA firm of Froshman, Billings, and Williams.  Teaches two international tax courses in addition to annual tax update courses for the California CPA Education Foundation.

Earned LL.M. (Taxation) degree in 1987 at Georgetown University, J.D. in 1981 at Hastings College of Law, and B.S. (emphasizing accounting and finance) in 1975 at the University of California, Berkeley.