Introduction to taxation; working with the tax law; gross income; business deductions; losses and loss limitations; accounting periods and methods; property transactions - determination of gain or loss, basis considerations, and nontaxable exchanges; properry transactions - capital gains and losses, section 1231, and recapture provisions; corporations - organization, capital structure, and operating rules; corporations - distributions not in complete liquidation; partnerships and limited liability entities; S corporations; business tax credits and corporate alternative minimum tax; comparative forms of doing business; introduction ot the taxation of individuals; individuals as employees and proprieters.
