ACC 7440 Winter 2009 CRN 24999

ACC 7440

Financial and Estate Planning

Introduction to financial and estate planning for executives,
professionals, and business owners. Tax and nontax personal financial
goals are considered in light of income tax requirements,
trust accounting rules, and estate and gift taxation.

Syllabus - Winter 2009

CRN 24999

Albert D. Spalding, JD, CPA Associate Professor

School of Business Administration , Department of Accounting
100 William C. Rands House, 5229 Cass Avenue, Detroit, Michigan 48202-3930
Telephone (313) 577-4469 / Telecopier (313) 577-2000
Email: aspalding@wayne.edu

Course Objectives

To help the student in identifying and working with significant financial and estate tax planning opportunities for individuals.
To make students aware of the basics considerations required for the structuring of a financial and estate plan for an individual client.
To improve students' skill in differentiating between the interpretation, relative weight, and applicability of statutes, regulations, court cases, and administrative pronouncements.
To further develop and employ research, writing and communication skills, including argumentative skills.

Course Open to Graduate Students Only

This course is reserved exclusively for graduate students formally admitted to the University. This course serves as an elective in the M.S. in Taxation and the M.S. in Accounting programs, and also serves as an elective in the M.B.A. program. As a prerequisite to this course, students must have taken ACC 7120 Tax Problems in Business Affairs, or, an undergraduate tax course. (This course replaces the former "Estate and Gift Taxation," and the former prerequisite of ACC 7300 no longer applies and is not required for this course.)

"Online" versus "Deadline"

This course is an online course, with two in-class meetings.

First, an in-person meeting on 04/16/2009, at which students make an oral presentation of their research.

Note: students may opt out of that in-class meeting by uploading a video presentation of their research, as explained at the Research Paper page of this syllabus); and

Second, one part (Part Three) of the final examination, a closed-book, closed notes written exam which must be taken in person on 04/30/2009.

Note: students may opt out of the in-class written Part Three of the final exam by taking an online oral exam using a web cam, as explained at the Exams page of this syllabus.

Meanwhile, please note that "online" does not mean "easier" or "self-paced." "Online" also does not mean that everything in the course is done so as to optimize student convenience.

Many students discover that the level of self-study and self-motivation required by an online course means that an online course can often seem more difficult than a traditional in-person, in-classroom course. And they often miss the personal contact with the instructor and colleagues that comes with in-person classes. But they nevertheless find that an online course can, in fact, be a bit more convenient.
For this course, all online discussions are asynchronous, that is, not scheduled at any particular time (although some Discussion Board responses must be made on specific evenings as scheduled), and can be completed from any Internet-accessible location in the world, at any time prior to the respective deadline. Note that, as indicated in the Schedule of Assignments, there are deadlines for each task, and the deadlines are "real" deadlines: no credit is allowed for late submissions or postings.

Schedule of Assignments Updated on Web

Schedule of Assignments

If you usually access the Internet from a home computer, your own laptop, or another computer to which you have regular access, you might wish to "bookmark" the online syllabus link as one of your Favorite Places so that you can quickly find your way back to the syllabus on a regular basis (at least twice weekly).
Note: if you have trouble with some of the links on this page, try accessing this page from a campus computer, or by configuring your browser to the WSU proxy server.

Course Materials and Related Requirements

Required Text:

Terrence Myers & Dorinda DeScherer, CCH Financial and Estate Planning Guide, 2009 Edition, ISBN 78-0-8080-9179-0.

Note: The 2009 edition is required for this course; prior editions will not work.

Recommended Supplementary Text: Claire B. May & Gordon S. May, Effective Writing: Handbook for Accountants (7th Edition) (Prentice Hall, 2005), ISBN 0131496816.
Recommended Supplementary Text: T. Edward Damer, Attacking Faulty Reasoning - Fifth Edition [2005, Wadsworth], ISBN 0-534-60516-8.
Recommended Supplementary Text: Barry Tarshish, Grammar for Smart People [1993, Pocket], ISBN 0671750445.
Recommended Headphones with Microphone, and Web Cam. For students who choose to do Part Three of their Final Exam as an online oral exam (i.e., an informal 10 to 15 minute interview), rather than a formal in-person closed book closed notes 50-minute written exam, and for students who wish to take advantage of online office hours (rather than rely solely on email), headphones with microphone, plus a web cam, are required.

These need not be expensive. Headsets that include a microphone are available for less than $ 20, and web cameras are also available for less than $ 30.
For more information, see the separate Online Technology and Skills page of this syllabus, including Cameras that are recommended for video use with Wimba video.

Activated AccessID Account: To access Course Documents and other restricted pages on the Blackboard site for your section of this course, you'll need to be signed onto Blackboard with your Wayne State University AccessID.

For new Wayne State students, it's very important that you immediately log in to WSU Pipeline (http://pipeline.wayne.edu) and activate your AccessID account. AccessID accounts need to be activated before they can be used. Your AccessID format is two letters followed by four numbers, e.g. xy6789. The AccessID is printed on your OneCard. Your initial password for your AccessID account is set to the 9-digit Student ID number, which is also printed on your OneCard. (You will also need your 9-digit Student ID number for the First Email Assignment in this course.)
If you are having any difficulties with access to Blackboard, call the C&IT Help Desk during regular business hours at (313)577-4778 or e-mail them at helpdesk@wayne.edu.

Required Email Account: Each student in this course must have, and must check regularly, her or his own email account. An email account that is shared with another person (another student, a spouse, a parent, etc.) is not allowed. Students who do not already have their own personal email account should make use of their Wayne State AccessID Email Account for this course. As noted in the Email Protocols Used in This Course, it is important that your email mailbox is not full, and that you are able to receive any emails sent to your AccessID email address. Be sure to correct your email address on Pipeline (http://pipeline.wayne.edu) if you are not relying on the University AccessID as your primary email..

To set your email forwarding, login to WSU Pipeline (http://pipeline.wayne.edu), and click the "Account" icon in the upper right hand corner of the page. In the "Account Management Menu", click "Set Mail Forwarding". Specify your primary email address, and desired options, and click "OK". This will ensure that you receive any emails "broadcast" from this Blackboard system to all students in this course. Please make absolutely sure that your exact email address has been entered precisely. Also make sure that it is a valid and working email address, and that your email mailbox (including your WSU Access ID email mailbox) is not full.

To empty your WSU AccessID email mailbox, browse to https://webmail.wayne.edu/. After you login, notice the Quota percentage at the top of the screen. To clear some or all of your messages from your WSU Access ID email mailbox, click on the <First link, then click on the Select link (to select all of the oldest messages). Then click on the Mark button to mark all of the selected messages for deletion. Finally, click on the Purge Deleted Items link within the green field on the far left, to remove the messages that were selected-for-deletion from your mailbox. Repeat until you have cleared all (or a sufficent amount) of the available space, as indicated by the Quota percentage at the top of the screen. Check your Quota percentage from time to time to make sure your WSU Access ID email mailbox is not full.

Final Grade Calculation

The final calculated grade is a composite of the grades received for examinations, written submissions, participation in discussion, etc. Based upon the percentage of total points earned in each category, final grades as a percentage of total available points are as follows: 92.0 to 100 = A; 90.0 to 91.9 = A- ; 87.0 to 89.9 = B+; 82.0 to 86.9 = B; 80 to 81.9 = B-; 77.0 to 79.9 = C+; 72.0 to 76.9 = C; 70.0 to 71.9 = C-; Below 70.0 = E. A GRADE OF "INCOMPLETE" IS NOT AVAILABLE. The various components of the final grade are:

	Approx. Points**	Approx. Percent**
Task Points: Email assignments, Quizzes, Surveys, Discussion Board participation, Research Paper presentation, etc., including slack points.	255	19 %
Tax Planning Memoranda	200	15 %
Mid-Term Exams	300	23 %
Research Paper	200	15 %
Final Exam	375	28 %

The final grade is based upon the student's numeric scores, not the related letter grade associated with each component. See How to Study for ACC 7440 for more information.

Last Day to Drop: Friday, March 6, 2009.

This drop deadline is the last day on which Prof. Spalding approve a request to withdraw from this course.

On or prior to that date, one of the following grades will be assigned for students who drop:

WN Withdrawal never attended, never took a quiz, and has no graded work to date.
WF Withdrawal with a failing grade earned to date.
WP Withdrawal with a passing grade earned to date.

If a student does not withdraw officially by the above date , s/he will likely receive a failing grade of "F". After the above date, Prof. Spalding will not approve a a request to withdraw from this course, and no "W" grade will be allowed or available. Instead, the final grade calculation will be computed at the end of the course, as explained above, and the resulting grade (e.g., an "F" or failing grade) will be assigned.

This withdrawal policy for this course does not affect tuition and fees, since there is no tuition cancellation provision or tuition refund for withdrawn courses. For information regarding University dates pertaining to tuition cancellation and other matters, consult the University schedule. If you have specific questions about course registration or drop procedures at the School of Business Administration, consult your student advisor.

Communicating with Your Instructor

Office Location. Room 203 William C. Rands House, on the second floor, at 5229 Cass Avenue, Main Campus. The Rands House is located next door to the Prentis Building. Correspondence may be mailed to (or delivered in person) to Prof. Spalding at the Department of Accounting office, 100 Rands House (first floor), 5229 Cass Avenue, Main Campus. The mailing address is shown above at the top of this syllabus.
Electronic Mail. Students are encourage to call the instructor at (313) 577-4469, or stop by the office at 203 Rands House at any time. The most reliable means of communicating with your instructor, however, is by leaving an E-Mail message. Electronic mail is usually answered within 24 hours.

Office Hours. Virtual office hours by email 24/6. Online office hours are scheduled from time to time on in the Live Classroom, a communications feature on Blackboard. This requires the use of a web cam. See the separate Online Technology and Skills page of this syllabus for information about this, and watch for online office hours to be announced on the Announcements page of Blackboard from time to time. If you prefer not to wait until the next online office hours, send your question by email. Online office hours are not confidentital and students may (and are ecnouraged to) listen in. If your question is of a confidential nature, send it by email.

The first email assignment, due at Unit One, is an email message to the instructor. The Subject of the email should include the student's name and section number; for example, if John Doe's section or CRN (call number) of ACC 7440 is CRN 26753, John Doe's Subject would be as follows: John Doe 26753 - First Email Assignment. The text of the message is as follows: Student name, student number, address, phone numbers, web site if applicable, and course number ACC 7440 and CRN for the student's section of this course. All other email to the instructor during the semester should follow this format (as well as the other email protocols listed at http://sbaweb.wayne.edu/~aspalding/acc7440/email.html and should include the student's name, followed by a space, followed by 26753, followed by the subject of the message, in the subject line of each email. Always leave a space before and after the CRN number.
Announcements for This Course on Blackboard

Most assignments, readings, and announcements for this course will be listed below or posted on the Blackboard site for this course, at least a week ahead of time. Any last minute changes, including any cancellations or other last minute change, affecting this course, will be posted on the Blackboard site for this course. If there is a power outage on Main Campus or other emergency resulting in the cancellation of classes at Wayne State University, all assignments due for that day continue to be due as scheduled. The Internet does not shut down for emergencies, so simply submit all discussion board postings, online exams, and all other assignments as scheduled below irrespective of any weather or other emergency. If you usually use a Wayne State University campus computer for these assignments, but you discover that that Wayne State computer facility is closed for any reason, simply find your way to a public library, cybercafe, friend's house, employer work station, or other Internet-accessible computer so that you are able to receive credit for timely submitted work, since no credit is given for late submissions under late submissions.

F1/F2 International Students

The U. S. Department of Homeland Security has recently established regulations for F1 students taking online classes. Specifically, if you have F1 visa status and are taking more than one online class in a semester, you need to provide proof that you are physically present for at least two meetings with your instructor for each online class.. F1 (international) students who are taking online or distance learning classes that do not require you to physically be present on campus for an exam, a class meeting, or other purposes relating to the class can use only one class or three credits per semester toward the full course of study requirement. For example, if you are an undergraduate student enrolled in 12 credit hours, you can only count one class or 3 credit hours of online study or distance learning classes toward the full course of study requirement for that particular semester if no physical presence on campus is required. Therefore, F1 (international) students taking more than one (3 hr.) class online per semester are now required to come to campus at least twice per semester to physically meet with their instructor (e.g., oral presentation, in-person office visit by appointment, etc.). The Office of International Students and Scholars [in the Welcome Center (42 W. Warren) at WSU (Tel: 313-577-3422, Fax: 313-577-2962, e-mail: oismail@wayne.edu)] will provide F1 students with a form for faculty to sign verifying these two meetings per online course each semester, and it is the student's responsibility to contact the faculty member regarding the need to meet.

Snow Days, Campus Closures, and Required Online Assignments

Assignments, exams, papers, quizzes and other online work in this class are due as scheduled even if the University closes down for a snow day, an emergency of some kind, or any other reasons. Students are able to benefit from the fact that the Internet is not impeded by inclement weather or local campus problems, and so students in this course need not have their progress in this course slowed down simply because on-campus activities are curtailed.

Academic Integrity

Strict compliance with the Wayne State University Academic Integrity policies and the Student Code of Conduct are required in this course. Any cheating (including collaboration among students on quizzes or exams), fabrication, plagiarism, or other academic dishonesty will result in an automatic grade of E for this entire course, irrespective of the specific context or assessment involved (quiz, research paper, exam, etc.). In addition, charges will be filed with the Judicial Officer of the Dean of Students Office. For more information, see the Student Code of Conduct brochure. There is zero tolerance of academic dishonesty in this course.

In this regard, please be advised that written assignments, such as essay exam answers, papers, and other submissions, may submitted to SafeAssign software (or similar software or services) for an evaluation of the originality of your work and proper attribution of published sources, and may be included in the restricted databases of providers such as SafeAssign, solely for the purpose of detecting plagiarism. Consistent with the University’s Student Code of Conduct and our School’s Code of Ethics violations will be grounds for further disciplinary action.

Schedule of Assignments Subject to Change - Check Back Often Note: if you have trouble with some of the links on this page, try accessing this page from a campus computer, or by configuring your browser to the WSU proxy server.
Unit and Due Dates and Times†	Readings Due Prior to Discussion and Quiz (Draw from these Readings when Completing Discussion and Quiz Due at 6:00 p.m..	Discussion Questions, Completed on Discussion Board Prior to Deadline Due at 6:00 p.m. However, when there is both a Part A and a Part B, Part A initial Discussion Board postings, are Due at 6:00 p.m.. Part B Responsive and Follow-Up Discussions are Due at 11:00p.m.	Other Items Due to be Submitted Prior to Deadline Due at 6:00 p.m.:
01/15/2009, Thursday Introduction Note: First Email Assignment, Initial Discussion Board postings (U1D1 and U1D2), and Baseline Quiz, are due at 6:00 p.m. on 01/22/2009, but may be submitted earlier. Quiz # 1 is also due at 6:00 p.m. on 001/22/2009, but is not available until 01/11/2009 per the Quizzes page of this syllabus.	Primary Readings: Read, from top to bottom, this syllabus and all attachments listed at the bottom of this syllabus. Pay special attention to the syllabus page entitled: How to Study for ACC 7440. View the introductory lecture on Blackboard. Also carefully study Chapters 1 through 3, and peruse Part III and Part IV (Appendices), of the CCH text for this course. Also read Pointers for Structuring Written Arguments.	Correct your address on Pipeline if you are not using the University AccessID as your primary email. Log in to WSU Pipeline and click the "Account" icon in the upper right hand corner of the page. In the "Account Management Menu", click "Set Mail Forwarding". Specify your primary email address, and desired options, and click "OK". Make sure your email address on Pipeline is precisely accurate, so that you will not miss out on any emails "broadcast" to the entire class from the Blackboard system. Note: First Email Assignment, initial Discussion Board postings (U1D1 and U1D2), and Baseline Quiz, are due at 6:00 p.m. on 01/22/2009, but may be submitted earlier.
01/22/2009, Thursday Unit One: Gifts, Giving, and Income-Splitting. Part I. First Email Assignment, Initial Discussion Board postings (U1D1 and U1D2), Quiz # 1 and Baseline Quiz, are due at 6:00 p.m. on 01/22/2009. U1D1 and U1D2 Replies are Due at 11:00 p.m. on 01/22/2009. Note: First Email Assignment, initial Discussion Board postings (U1D1 and U1D2), and Baseline Quiz, are due at 6:00 p.m. on 01/22/2009, but may be submitted earlier. Quiz # 1 is also due at 6:00 p.m. on 01/22/2009, but is not available until 01/21/2009 per the Quizzes page of this syllabus.	Primary Readings: Carefully study Chapters 4 amid 5 of the CCH text for this course; as well as IRS Publication 950 (8/2007), Introduction to Estate and Gift Taxes; IRS Publication 561 (4/2007), Determining the Value of Donated Property; and Frequently Asked Questions on Gift Taxes (IRS). Peruse: Chapters 24 and 25 of the CCH text for this course; as well Form 709 and Instructions; Treasury Department Circular 230; REG-138637-07, Notice of Proposed Rulemaking Regulations Governing Practice Before the Internal Revenue Service; IRS Publication 526 (2007), Charitable Contributions.	Unit 1, Discussion 1: After reading the Discussion Board page of the syllabus from top to bottom, introduce yourself, on the Blackboard Discussion Board site for this course, to the other students in this course. Include general employment information and/or any other information you would care to share with your classmates. Describe your MBA/MS degree experience to date, and expectations from your graduate studies. You may, if you wish, attach a photo of yourself. Due by 6:00 p.m. Unit 1, Discussion 1(Reply): Provide a constructive and substantive reply to at least one other student's U1D1 expectations, experience, or other observations. Feel free to enter into a respectful discussion, regarding expectations, employment, education, etc. Due by 11:00 p.m. Unit 1, Discussion 2: Review Chapters 24 and 25 of the CCH text for this course. Select, from either of these chapters, one provision of the tax law that either provides an advantage for, or effectively imposes a penalty on, couples who chose to live together without benefit of marriage or domestic partnership status. Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) offer a technical analysis of that specific provision, in support of your arguments as to why you believe that public policy would be better served if that penalty (or advantage) were to be eliminated in favor of parity with married couples. Give a full analysis and explanation for your conclusion(s). Do not repeat another student's prior analysis. Due by 6:00 p.m. Unit 1, Discussion 2 (Reply): Provide a constructive and substantive reply to at least one other student's U1D2 analysis. Due by 11:00 p.m.	First Email Assignment, Initial Discussion Board postings (U1D1 and U1D2), and Baseline Quiz, are due at 6:00 p.m. on 01/22/2009, but may be submitted earlier. Quiz # 1 is also due at 6:00 p.m. on 01/22/2009 but is not available until 01/21/2009 per the Quizzes page of this syllabus. All Quizzes are cumulative: Quiz # 1 will cover chapters 1-5 and 24-25, as well as the lectures, readings, Discussion Board assignments, and related readings due by 6 pm on 01/22/2009. U1D1 and U1D2 Replies are Due at 11:00 p.m. on 01/22/2009. After 01/22/2009: Start on your first Memorandum of Opinion, which may be uploaded onto the Discussion Board any time before it is due.
01/29/2009, Thursday Unit One: Gifts, Giving, and Income-Splitting. Part II. First Tax Planning Memorandum and U1D3 Discussion posting are due at 6:00 p.m. on 01/29/2009. At least one response to another student's U1D3 discussion is due at 11:00 p.m.	Required Readings: Read the following three recent cases, which can be retrieved from Lexis-Nexis Academic Universe by using the Legal library (red tab at the top of the page), then changing to the Federal & State Cases page (link on the right hand column), and then entering each case name or the citation number: Estate of Gerson v. Comm'r, 127 T.C. 139, 2006 U.S. Tax Ct. LEXIS 31, 127 T.C. No. 11 (2006). Estate of Rosen v. Comm'r, 91 T.C.M. (CCH) 1220, RIA TM 56533 (T.C. 2006). Succession of McCord v. Comm'r, 461 F.3d 614 (5th Cir. 2006). Peruse: Chapters 31 and 32 of the CCH text for this course; as well as Act 386 of 1998 of Michigan Statutes: Estates and Protected Individuals Code ["EPIC"], MCL 700.1101 - 700.8102; Sample documents in Internal Revenue Bulletin: 2005-34	Unit 1, Discussion 3: Review Chapters 31 and 32 of the CCH text for this course, and develop a very specific, hypothetical tax planning issue that is related to, but not clearly addressed or resolved by, one of these two chapters. Identify the paragraph ¶ within one of these chapters that comes closest to dealing with your issue (but does not actually resolve the issue). Following the format prescribed on the Tax Planning Memorandum page of this syllabus, write your first Tax Planning Memorandum on your issue. Separately, write a short summary of your first Tax Planning Memorandum as your Discussion Board message posting, including a reference to the paragraph number ¶ within Chapter 31 or 32 that most closely addresses your issue. As part of your Discussion Board posting, attach and upload your complete Tax Planning Memorandum (in Word 2003 format) to your discussion U1D3 on the Discussion Board. The summary on the Discussion Board U1D3, and the uploading of the Tax Planning Memorandum (in Word format), are due at 6:00 p.m. Unit 1, Discussion 3 (Reply): Provide at least one constructive and substantive reply in response to at least one other student's U1D3 Tax Planning Memorandum. (see Step Five of the Tax Planning Memorandum instruction page of your syllabus). Due by 11:00 p.m. Continue any thoughtful discussions as you deem appropriate.	Survey # 1.
02/05/2009, Thursday Unit Two: Trusts, Life Insurance, and Annuities. Initial Unit 2 Discussion, Quiz #2, and second email assignment are due at 6:00 p.m. on 02/05/2009. Discussion Board Unit 2 Replies are Due at 11:00 p.m. on 02/05/2009.	Primary Readings: Carefully study Chapters 6, 7 and 8 of the CCH text for this course. Additional Required Readings: Read the following cases, which can be retrieved from Lexis-Nexis Academic Universe by using the Legal library (red tab at the top of the page), then changing to the Federal & State Cases page (link on the right hand column), and then entering each case name or the citation number: In re Ervin v. Bank One Trust Co, 2005 Mich. App. LEXIS 528 (Mich. Ct. App. Feb. 24, 2005); In re Alice Shotwell Gustafson Trust, 2007 Mich. App. LEXIS 2704 (Mich. Ct. App. Dec. 4, 2007); Nurmela v. Vitalis Residuary Trust (In re Estate of Vitalis), 2006 Iowa App. LEXIS 490 (Iowa Ct. App. May 24, 2006) Peruse:Chapter 28 of the CCH text for this course; Publ 575 (PDF) Pension and Annuity Income;as well as Act 159 of 2004 of Michigan Statutes: Uniform Principal and Income Act ["UPIA"], MCL 555.501 - 555.1005.	Unit 2, Discussion 1: Review Chapter 28 of the CCH text for this course. Select from that chapter one provision of the tax law that either provides an advantage for, or effectively imposes a penalty on, home ownership (as opposed to renting or leasing a principle residence). Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) propose -- and support with a technical tax analysis -- a specific change to the Internal Revenue Code that would make that advantage more beneficial (or, that penalty provision less punitive). Give a full technical analysis and explanation in support of your conclusion(s). Do not repeat another student's prior analysis. Due by 6:00 p.m. Unit 2, Discussion 1 (Reply): Provide a constructive and substantive reply to at least one other student's U2D1 analysis. Due by 11:00 p.m.	Quiz #2; Second Email Assignment: Five Proposed Research Issue Questions
02/12/2009, Thursday Midterm Exam I. Email Assignment # 3 is also due in the Digital Drop Box by 11 pm.	Online Midterm Exam I. Date and Time: Part I ("multiple choice" portion) and Part II ("short essay" portion) of *Midterm Exam I* are due on or before 11:00 p.m. on 02/12/2009. This exam is a "take-home" exam, available to the student at the Course Documents section of the Blackboard site for this course approximately 30 hours prior to that due date and time.. The text of the short essay questions may be made available sooner for student review and preparation. Part One (the multiple choice/true false portion) is completed on Blackboard in the same manner as quizzes. Part Two (short essay) is also separately completed on Blackboard in approximately the same manner as quizzes, but using complete and proper sentences. Part One (multiple choice) must be completed in one sitting within one hour of the time Part One is started. Part Two (short essay) must be completed separately in one sitting (not in the same session as Part One), within one hour of the time Part Two is started. Part One is graded automatically on Blackboard; points for Part Two are posted within approximately one week.		Email Assignment #3 (actually, this is a Digital Dropbox Assignment, not technically an email assignment): "Send" a color scan of your Wayne State University OneCard on the Blackboard Digital Dropbox tool in .jpg format. Do not actually email the .jpg file, but, Send it on Blackboard. For more detailed instructions, see the Online Technology and Skills page of the syllabus. Prof. Spalding uses the scan to verify the identity of students (presentations, online office hours, final exam, etc.).
02/19/2009, Thursday Unit Three: Employee Benefits, Estate Taxable Transfers, and Wills, Part I Initial U3D1 Discussion and Email Assignment # 3 are Due at 6:00 p.m. on 02/19/2009 U3D1 Replies are Due at 11:00 p.m. on 02/19/2009	Primary Readings: Carefully study Chapters 9,10 and 11 of the CCH text for this course; as well as IRS Publication 559, Survivors, Executors and Administrators. Peruse: Chapter 30 of the CCH text for this course, as well as: Publ 560 (PDF) Retirement Plans for Small Business (SEP, SIMPLE and Qualified Plans); Publ 590 (PDF) Individual Retirement Arrangements (IRAs); and Act 386 of 1998 of Michigan Statutes: Estates and Protected Individuals Code (MCL 700.1101 - 700.8102) .	Unit 3, Discussion 1: Review Chapter 30 of the CCH text for this course. Select from that chapter one provision of the tax law that either provides an advantage for, or effectively imposes a penalty on, college education (as opposed to, for example, starting up work as a skilled tradesperson or as an entrepreneur). Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) propose a change to the Internal Revenue Code that would make that advantage more beneficial (or, that penalty provision less punitive). Give a full analysis and explanation for your conclusion(s). Do not repeat another student's prior analysis. Due by 6:00 p.m. Unit 3, Discussion 1 (Reply): Provide a constructive and substantive reply to at least one other student's U2D1 analysis. Due by 11:00 p.m.	Email Assignment # 4 Review the available times for the Part III Oral Exam (on the Announcemetns page of Blackboard, within several days of the deadline fo this assignment). Let Prof. Spalding know by email whether you will be taking the written Part Three of the final exam, or, want to schedule a 10 or 15 minute online interview instead. If you are opting out of the closed book, closed notes in-person exam, suggest three preferred interview times (from the Announcements on Blackboard for the schedule of dates and times). See the Exams page for details.
02/26/2009, Thursday Unit Three: Employee Benefits, Estate Taxable Transfers, and Wills, Part II. Quiz 3 is due at 6:00 p.m. on 02/26/2009.	Required Readings: Read the following cases, which can be retrieved from Lexis-Nexis Academic Universe by using the Legal library (red tab at the top of the page), then changing to the Federal & State Cases page (link on the right hand column), and then entering each case name or the citation number: Eifler v. Swartz (In re Estate of Miltenberger), 275 Mich. App. 47, 737 N.W.2d 513, 2007 Mich. App. LEXIS 831 (2007); Taverniti v. Gorski (In re Estate of Eggleston), 266 Mich. App. 105, 698 N.W.2d 892, 2005 Mich. App. LEXIS 1056 (2005); Hill v. Flint (In re Estate of Sprenkle-Hill), 265 Mich. App. 254, 703 N.W.2d 191, 2005 Mich. App. LEXIS 495 (2005); State Treasurer v. Erdman, 2002 Mich. App. LEXIS 1034 (Mich. Ct. App. July 9, 2002); Morse v. Sharkey (In re Estate of Raymond), 276 Mich. App. 22, 739 N.W.2d 889, 2007 Mich. App. LEXIS 1481 (2007). Peruse: Chapters 33 and 34 of the CCH text for this course, and the various Calhoun County Probate Notes.	Unit 3 Discussion 2 is due next week. Very carefully read the the Tax Planning Memorandum page of this syllabus from top to bottom before submitting the second Tax Planning Memorandum.	Quiz #3.
03/05/2009, Thursday Unit Four: Marital Deduction, Powers of Appointment, and Fiduciaries. Second Tax Planning Memorandum -- initial U3D2 Discussion posting--, the initial Unit 4 Discussion, Quiz #4, and fifth email assignment are due at 6:00 p.m. on 03/05/2009. At least one response to another student's U3D2 discussion, and Discussion Board Unit 4 Replies are Due at 11:00 p.m. on 03/05/2009.	Primary Readings: Carefully study Chapters 12, 13 and 14 of the CCH text for this course. Peruse:Chapter 29 of the CCH text for this course; as well as Act 433 of 1998 of Michigan Statutes: Michigan Uniform Transfers to Minors Act (MCL §§ 554.451 to 554.552); and anatomical gift sections of Act 368 of 1978 of Michigan Statutes: Michigan Anatomical Gift Law MCL §§ 333.10101 - 333.10109 of the Public Health Code); Wayne State University Body Bequest Program	Unit 3, Discussion 2: Review Chapters 33 and 34 of the CCH text for this course, and develop a very specific, hypothetical tax planning issue that is related to, but not clearly addressed or resolved by, one of these two chapters. Identify the paragraph ¶ within one of these chapters that comes closest to dealing with your issue (but does not actually resolve the issue). Following the format prescribed on the Tax Planning Memorandum page of this syllabus, write your second Tax Planning Memorandum on your issue. Separately, write a short summary of your first Tax Planning Memorandum as your Discussion Board message posting, including a reference to the paragraph number ¶ within Chapter 33 or 34 that most closely addresses your issue. As part of your Discussion Board posting, attach and upload your complete Tax Planning Memorandum (in Word 2003 format) to your discussion U3D2 on the Discussion Board. The summary on the Discussion Board U3D2, and the uploading of the Tax Planning Memorandum (in Word format), are due at 6:00 p.m. Unit 3, Discussion 2 (Reply): Provide at least one constructive and substantive reply in response to at least one other student's U3D2 Tax Planning Memorandum. (see Step Five of the Tax Planning Memorandum instruction page of your syllabus). Due by 11:00 p.m. Continue any thoughtful discussions as you deem appropriate. Unit 4, Discussion 1: Review Chapters 6, 14 and 29 of the CCH text for this course. Select from one of those chapters a provision of the tax law that either provides an advantage for, or effectively imposes a penalty on, the execution and use of a living trust for the management of assets during a period of disability (as opposed to, for example, reliance on a durable power of attorney). Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) propose -- and support with a technical tax analysis -- a specific change to the Internal Revenue Code that would make that advantage more beneficial (or, that penalty provision less punitive). Give a full analysis and explanation for your conclusion(s). Do not repeat another student's prior analysis. Due by 6:00 p.m. Unit 4, Discussion 1 (Reply): Provide a constructive and substantive reply to at least one other student's U4D1 analysis. Due by 11:00 p.m. Unit 4, Discussion 2: Enter, word for word, your assigned research issue question once you receive your assigned topic from Prof. Spalding via email. Unit 4, Discussion 2 (Reply): Provide a collegial, constructive, helpful, and substantive suggestion or observation to at least one student regarding their topic. Unit 4, Discussion 3. List, using proper citation format, the law review article(s) the tax or accounting journal articles, and at least one other source you plan to reference in support of your research paper. Unit 4, Discussion 3 (Reply): Provide a constructive, helpful and substantive reply to at least one other student's U4D3 post.	Quiz #4; Email Assignment # 5: Name and description of your research paper interviewee (along with your questions) emailed in confidence to Prof. Spalding.
03/12/2009, Thursday	Online Midterm Exam II. All exams are cumulative. Date and Time: Part I ("multiple choice" portion) and Part II ("short essay" portion) of *Midterm Exam II* are due on or before 11:00 p.m..on 03/12/2009. This exam is a "take-home" exam, available to the student at the Course Documents section of the Blackboard site for this course approximately 30 hours prior to that due date and time.. The text of the short essay questions may be made available sooner for student review and preparation. Part One (the multiple choice/true false portion) is completed on Blackboard in the same manner as quizzes. Part Two (short essay) is also separately completed on Blackboard in approximately the same manner as quizzes, but using complete and proper sentences. Part One (multiple choice) must be completed in one sitting within one hour of the time Part One is started. Part Two (short essay) must be completed separately in one sitting (not in the same session as Part One), within one hour of the time Part Two is started. Part One is graded automatically on Blackboard; points for Part Two are posted within approximately one week.
03/19/2009, No assignments (Spring Break).
03/26/2009, Thursday Unit Five: Planning for Executives and Professionals; Choice of Business Form; and Closely Held Corporations, Part I Initial U5D1 Discussion, and Email Assignment # 6, are Due at 6:00 p.m. on 03/26/2009 U5D1 Replies are Due at 11:00 p.m. on 03/26/2009	Primary Readings: Carefully study Chapters 16, 17, 18 and 19 of the CCH text for this course. Peruse:Chapter 23 of the CCH text for this course.	Unit 5, Discussion 1: Review Chapter 23 of the CCH text for this course. Select from that chapter one provision of the tax law that either provides an advantage for, or effectively imposes a penalty on, the transfer of a business interest to on or more family members in a manner other than by a direct bequest in a last will and testament. Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) propose a change to the Internal Revenue Code that would make that advantage more beneficial (or, that penalty provision less punitive). Give a full analysis and explanation for your conclusion(s). Do not repeat another student's prior analysis. Due by 6:00 p.m. Unit 5, Discussion 1 (Reply): Provide a constructive and substantive reply to at least one other student's U5D1 analysis. Due by 11:00 p.m.	Email Assignment # 6 Let Prof. Spalding know by email whether you will be presenting your research in person on 04/09/2009, or via video upload onto the Discussion Board.
04/02/2009, Thursday Unit Five: Planning for Executives and Professionals; Choice of Business Form; and Closely Held Corporations, Part II. Initial U5D2 Discussion posting and Quiz # 5 are due at 6:00 p.m. on 04/02/2009. At least one response to another student's U5D2 discussion is due at 11:00 p.m.	Required Readings: IRS Publication 3402, Tax Issues for Limited Liability Companies; IRS Form 8832 (PDF), Entity Classification Election including instructions. Peruse: Chapters 26 and 35 of the CCH text for this course; and IRS Publication 542, Corporations IRS Publication 541, Partnerships	Unit 5, Discussion 2. As your discussion posting, provide an outline of your paper (that is, headings, subheadings, and sub-subheadings in outline form) and a draft of the last five paragraphs of your paper, in accordance with the instructions on the Research Paper page of the syllabus. All students: attach your Research Presentation Handout (in Word 2003 format) to your discussion U5D2 on the Discussion Board. Unit 5, Discussion 2 (Reply): Provide at least one constructive and substantive reply in response to at least one other student's U5D2 submission.	Quiz #5
04/09/2009 In-Class Session at 6:00 p.m. On-Site on Main Campus (Room 103 Rands House, 5229 Cass Avenue Main Campus). -- or -- RPD1 video presentation is due online at 6:00 p.m. on 04/09/2009.	Research Presentations. Students who choose not to upload their video presentation must attend the in-class session, and should print and bring to class a dozen copies of their own Research Presentation Handout. This is the same handout that the student uploaded at his or her U5D1 discussion.	Research Presentation, Discussion 1. For those students who choose to upload their video presentation onto the Discussion Board, their five to ten minute presentation must be uploaded as an attachment to the RPD1 discussion thread by 6:00 p.m. The Subject line should indicate "Video Presentation by ________" with the student's name indicated. Research Presentation, Discussion 1 (Reply). For all students: Provide a constructive and substantive question in response least one other student's RPD1 video presentation. Due 04/10/2009. by 11:00 p.m. Select a student for whom a fewer number of questions have already been asked, so that you not "pile on" any one or two students. Research Presentation, Discussion 1 (Follow-Up). Only for those students who chose to upload their video presentation onto the Discussion Board: Provide a constructive and substantive follow-up or answer to at least one RPD1 Reply. Due 04/11/2009.. by 11:00 p.m.
04/16/2009, Thursday Unit Six: Planning for Partners and Sole Proprietors; Post-Mortem Planning Initial Unit 6 Discussion and Quiz #6 are due at 6:00 p.m. on 04/16/2009. Discussion Board Unit 6 Replies are Due at 11:00 p.m. on 04/16/2009.	Primary Readings: Carefully study Chapters 15, 20, and 21 of the CCH text for this course. Peruse: Chapters 20 and 21 of the CCH text for this course.	Unit 6, Discussion 1: Select from any chapter of the CCH text for this course a provision of the tax law that you find particularly interesting, troubling, or beneficial. Do not select a provision already selected by another student, and don't repeat the observations already made by another student. Briefly (in 300 words or less) propose -- and support with a technical tax analysis -- a specific change to the Internal Revenue Code that would make that provision more beneficial (or, where applicable, less punitive). Give a full analysis and explanation for your conclusion(s). If your selected provision has already been addressed by you or another student in a prior Discussion Board submission, make sure your U6D1 discussion takes the analysis in a different direction, or to a higher level, than the previous submission. Due by 6:00 p.m. Unit 6, Discussion 1 (Reply): Provide a constructive and substantive reply to at least one other student's U6D1 analysis. Due by 11:00 p.m.	Quiz #6; Email Assignment #5 (actually, this is a Digital Dropbox Assignment, not technically an email assignment): "Send" a color scan of your Wayne State University OneCard on the Blackboard Digital Dropbox tool in .jpg format. Do not actually email it. For more detailed instructions, see the Online Technology and Skills page of the syllabus. Prof. Spalding uses the scan to verify the identity of students (online presentations, online office hours, etc.).
04/23/2009, Thursday	*Final Research Paper* is due online due on or before 11:00 p.m. on 04/23/2009 on Blackboard: the electronic version in Word is "Sent" on Blackboard using the Student Drop Box. Hard copy of the research paper is required in addition to the electronic version, and may be either faxed to (313) 577-2000, or delivered to the Department of Accounting oxffice in 100 Rands House on Main Campus (see address above), as late as noon on 04/27/2009 ... so long as the electronic copy of the Word document computer file of the research paper has been previously Sent (i.e., uploaded) via the Student Drop Box on Blackboard no later than 11:00 p.m. on 04/23/2009. If you plan to fax your paper, do not ask for, and do not expect, a confirmation of the receipt of your fax; if you are unsure about sending a fax, choose another delivery method (e.g., hand delivery, Fedex, etc.). Also, if you plan to fax your paper, do not wait until the last minute to fax your paper, as the fax line will likely be busy and you will miss the deadline.
04/30/2009, Thursday	Online Parts One and Two of Final Exam. All exams are cumulative. Date and Time: Part I ("multiple choice" portion) and Part II ("short essay" portion) of the *Final Exam* are due online on or before 6:00 p.m..on 04/30/2009. This exam is a "take-home" exam, available to the student at the Course Documents section of the Blackboard site for this course approximately 30 hours prior to the due date and time. The text of the short essay questions may be made available sooner for student review and preparation. Part One (the multiple choice/true false portion) is completed on Blackboard in the same manner as quizzes. Part Two (short essay) is also separately completed on Blackboard in approximately the same manner as quizzes, but using complete and proper sentences. Part One (multiple choice) must be completed in one sitting within one hour of the time Part One is started. Part Two (short essay) must be completed separately in one sitting (not in the same session as Part One), within one hour of the time Part Two is started. Part One is graded automatically on Blackboard; points for Part Two are posted within approximately one week.
04/30/2009, Thursday	In-Person Part Three of the Final Exam. The third in-class (closed book, closed notes) 50-minute part of the final exam is worth 50 points and will take place on 04/30/2009 at 6:00 p.m. on Main Campus (Room 103 Rands House, 5229 Cass Avenue Main Campus). Bring pencils and a good eraser only, to the in-class part of the exam. All paper will be provided. This part of the exam will emphasize vocabulary and definitions, and may be in the form of a crossword puzzele. Optional Online Oral Exam. Instead of taking this in-person, closed book, closed notes written exam, students may choose to schedule a fifteen-minute (or so) online oral exam. This required the use of a web cam, and was scheduled during the last third of the course. For information about this option, see the Exams page of this syllabus and the Online Technology and Skills page of this syllabus. Students who, for any reason, did not successfully schedule and take the optional online oral exam, are required to take the in-person closed book closed notes exam on 04/30/2009 at 6:00 p.m.

This syllabus will be updated continually.

Check back often (at least twice weekly) for a current, more complete version!

Please read this entire syllabus and its attachments, including:*

Online Syllabus for ACC 7440 CRN 24999 Winter 2009
Blackboard - http://blackboard.wayne.edu/
Tax Planning Memorandum and Workpaper
Email Protocols Used in This Course
Discussion Board (Online Section)
Online Technology and Skills
How to Study for ACC 7440
Task Points (Online Section)
Quizzes and Surveys
Research Paper
Exams

*Each of the links in the above box is a separate page of this syllabus, and is incorporated by reference into this main page of the syllabus.
**Subject to change slightly as the semester unfolds. Final grade is based on the student's total points divided by the final denominator as determined at the end of the semester.
†See How to Study for an Online Section of ACC 7440 for details. Lectures introducing each unit are made available on Blackboard at least four days prior to the due date for that unit.
† †Note: if you have trouble with some of the links on this page, try accessing this page from a campus computer, or by configuring your browser to the WSU proxy server.