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259A sec. 1 - Income Tax I (Fall 2014)

Instructor: Eric P. Rakowski  (view instructor's teaching evaluations | profile)
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Units: 4
Meeting Time: MTuW 2:10-3:20
Meeting Location: 110

Course Start: August 25, 2014
Course Control Number (Non-1Ls): 49754


Income Tax I is an introductory class which virtually every law student should take. The federal tax rules affect almost every practice area, from family law and real estate transactions to all manner of businesses. The introductory course provides an overview of the federal income taxation of individuals. (More advanced courses focus on corporations, partnerships, trusts and estates, international flows, and tax policy.) The course examines the sometimes conflicting policies that shape the individual income tax and considers alternatives to current rules. Its chief focus, though, is on understanding what the law actually requires of individual taxpayers: what constitutes taxable income, which deductions and exclusions are available and for which reasons, who must pay tax (within family units, following divorce, and so forth), when tax is owed if receipts span several years, how capital gains receive preferential treatment. The course requires no familiarity with economics or accounting; no math skills are needed beyond basic arithmetic. There will be a final take-home, open-book exam.

Exam Notes: TH
Course Category: Tax, Estates, and Trusts

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Books:
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  • Federal Income Taxation
    Bankman, Shaviro, & Stark
    Edition: 16th Ed.
    Publisher: Aspen Publishers
    ISBN: 9781454809968
    Copyright Date: To Be Determined
    Price: To Be Determined

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