ACCT 2413 - Accounting Practice II

1. Prepare complex federal tax returns for business such as corporations, partnerships and limited liability companies and research issues related to their preparation.
2. Prepare various Tennessee business tax filings such as returns for sales tax, business tax, franchise, excise tax, and the tangible personal property tax schedule.
3. Describe the nature of other Tennessee-specific taxes such as the severance tax, alcohol-related taxes, the inheritance tax, the motor fuel tax, the tobacco tax and the professional privilege tax.
4. Apply basic payroll accounting procedures to business operations such as gross pay and withholding tax calculations and prepare federal and state payroll tax forms such as quarterly reports, unemployment reports, and W-2 and 1099 forms.