Business and Payroll Tax Accounting

Course Number: 
ACCT 175
Course Credits: 
Course Description: 
A study of various aspects of federal, state and local taxes levied upon business. Emphasis placed on federal income and Social Security tax withholding, sales tax requirements and various state regulations regarding employee health, safety, unemployment insurance and business and occupation tax. Students will practice completion of various tax reports and maintenance of accurate tax related records. 5 lecture hours. Vocational program course. May be used as a geeral elective in the AA degree.
Course Prerequisites: 
Prerequisites: ACCT 113 or ACCT& 201 or instructor permission.
Course Outcomes: 
  • Describe the use of the personnel and payroll records to provide the information for payroll
  • Understand the Fair Labor Standards Act, Social Security Act, federal income tax withholding law, and other laws relating to the payment of wages and salaries
  • Understand the basic payroll accounting and procedures used in computing wages and salaries and the timekeeping methods used to record time worked
  • Identify the preparation of payroll registers, the recording of accounting entries for payroll, and the preparation of payroll tax returns required of business
  • Complete a payroll project manually or with a computer