Taxation of Joint Ventures, Partnerships, and other "Flow-Through" Entities
This course focuses on the fundamental concepts of (1) federal income taxation of ¿flow-through¿ entities, such as the joint venture, partnership, LLC, and S corporations; (2) the federal gift and estate taxes; and (3) family tax planning. A ¿cradle to grave¿ approach is used for ¿flow-through¿ entities, emphasizing their formation, operation, sale or exchange, and liquidation. Gift and estate topics include transfers subject to tax, valuation, exclusions, credits, procedural matters, and computation of tax. Family tax planning topics include minimizing gift, estate, and income taxes; valuation of specific assets; and estate liquidity. The objectives of the course are not to make students ¿tax experts,¿ but to educate them on the role taxes play in making good decisions; provide them with a working knowledge of those principles of tax law that are of wide application and importance; and develop their appreciation of tax planning as a process for maximizing wealth. To help students understand and become conversant with the fundamental concepts of federal income taxation, the instructor uses a problem-oriented approach that requires students to apply the more important principles of tax law to discrete factual situations. Prerequisite: Mgt. 311 or consent of the instructor. 
Please Note: Not all courses are scheduled each semester. Complete class schedules are available upon enrollment.