MBA 708: Taxes and Business Strategy Master Syllabus
Course Instructor:
Office Number:
Office Hours:
Email:
Course Meeting Times:
Course Materials:
Course Website: Canvas
I. Course Introduction and Objectives
George Mason University Catalog Description
Provides a framework for making managerial decisions in a global tax environment. Examines business decisions such as location of facilities, employee compensation, mergers and acquisitions, capital and asset structure, and business form. Focuses on tax planning concepts and the effect of taxes on business decisions.
Course goals (in line with those discussed with the MIT Sloan course): Traditional finance and other business courses analyze a broad spectrum of factors affecting business decision making but typically give little systematic consideration to the role of taxes. In contrast, traditional tax accounting courses concentrate on tax consequences while ignoring the richness of the context in which tax factors operate. The objective of this course is to bridge this gap by providing a framework for recognizing tax planning opportunities and applying basic principles of tax strategy.
The key themes in this conceptual framework are:
- All Parties - Effective tax planning requires the planner to consider the tax implications of a proposed transaction for all parties to the transaction. In many cases, it is differences in tax status that create tax arbitrage opportunities.
- All Taxes - Effective tax planning requires considering both explicit taxes (taxes paid directly to the government) and implicit taxes (taxes paid indirectly in the form of lower before-tax rates of return on tax-favored investments).
- All Costs - Effective tax planning requires the planner to recognize that taxes represent only one among many business costs, and all costs must be considered in the planning process.
The course begins by defining important terms for this conceptual framework (e.g., implicit taxes, tax clienteles) and offering a brief summary of how tax rules are developed and enforced. We then review concepts for decision making from finance (e.g., future value and compound interest calculations) and adjust these calculations to incorporate a role for taxes. We use these concepts to compare various decisions by individual taxpayers and firms related to: investment or savings, compensation, how to organize a business, corporate operations, and capital structure. We also focus time on understanding nontax cost trade-offs from tax planning.
An ultimate goal of the course is to provide you with an approach to thinking about taxes that will be valuable even as the tax laws change. A useful by-product of this approach is the ability to think critically about various tax provision changes with the recent tax reform.
Laptop Policy
See Costello College of Business Undergraduate Students Minimum Computing Requirements.
II. Grades
Some instructors may incorporate +s/-s based on their grading scale breakout while others may not use +s/- s. However, each individual instructor’s syllabi will make it clear whether and to what extent +s/-s are used for his/her individual section.
A ≥ 90
B ≥ 80
C ≥ 70
F < 70
Grading Breakdown
Each instructor provides a grade breakdown of the categories of graded work (e.g., quizzes, assignments, exams, etc.) and the corresponding % of the overall course grade that corresponds with that category. While all instructors include exams as part of the grade, some instructors may use both quizzes and assignments while others may only include assignments or assignments with (an) additional project(s).
The specific instructor’s syllabus will also include in the syllabi or another attachment (like a separate summary word or excel document) a list of graded work categories and the expectations for those individual categories.
Midterm Exam
See the course policies below regarding make-up exams. Accommodations can be made for students who have more than two exams on the same day or have a specific academic conflict but will not be made for recreational or convenience purposes (like “I planned to go on vacation the same weekend as the midterm” for some reason or another). It is your responsibility to be aware of the dates provided in the syllabus and the quiz/assignment due date schedule. Different instructors (and section modes) may use online or hard copy exams. Individual instructors will provide details on the mode of the exam and the materials allowed/disallowed on the exam in advance of the test.
Final Exam
See the course policies below regarding make-up exams. Accommodations can be made for students who have more than two exams on the same day or have a specific academic conflict, but will not be made for recreational or convenience purposes (like “this is my last exam of the week, and I would like to go on vacation earlier than the day of the final” for some reason or another). It is your responsibility to be aware of the dates provided in the syllabus and the quiz/assignment due date schedule. Different instructors (and section modes) may use online or hard copy exams. Individual instructors will provide details on the mode of the exam and the materials allowed/disallowed on the exam in advance of the test.
III. Course Policies
General Make-Up and Extra Credit Policy
As a general policy, there will be no make-up quizzes, assignments, or exams. Individual instructors may incorporate policies (e.g., dropping the lowest grade of a category or one/multiple extra credit projects) to incorporate the expectation that there may be a single graded item (small number of grade items) in a category for reasons that do not require documentation for the related circumstances (e.g., for a job interview, a single sick day without documentation like a 24 hour stomach bug, attending a wedding, etc.). However, it is not required that an instructor incorporate these opportunities. In the event of serious illness that goes beyond a 48 hour period or with extenuating circumstances, different instructors will outline how this will be handled in terms of potential withdrawal policy, etc.
George Mason E-mail and the Learning Management System (transitioned to Canvas starting in Summer 2025)
Students are expected to check their George Mason e-mail and the Learning Management System on a daily basis. This is especially important with the online format of our class. In order to comply with student privacy laws, students must use their Mason email account to receive important University information, including messages related to this class, and when corresponding with me or fellow students for our class. Course information and supporting materials will be available through the Learning Management System (Canvas). I will disseminate course information using both outlets, including announcements, course content, grades, and (possibly) class cancellations. If you have any questions or problems about accessing these, please see me or IT.
Students with Disabilities
If you are a student with a disability and you need academic accommodations, please contact me (contact info above) and the Office of Disability Services (ODS) at (703) 993-2474 or ods@gmu.edu. Even if you have worked with ODS in the past, it is important to check-in with them this year for how graded work should accommodate students in the current year given the unique circumstances surrounding COVID-19. All academic accommodations must be arranged through the ODS. Facilitation for disabilities with graded classwork will be applied after I receive the appropriate faculty contact sheet from ODS.
Title IX
Notice of Mandatory Reporting of Sexual Assault, Interpersonal Violence and Stalking: As a faculty member, I am designated as a “Responsible Employee,” and must report all disclosures of sexual assault, interpersonal violence, and stalking to Mason’s Title IX Coordinator per University Policy 1412. You may seek assistance from George Mason’s Title IX Coordinator, Jennifer Hammat, by calling (703) 993-8730 or email cde@gmu.edu. If you wish to speak with someone confidentially, please contact one of Mason’s confidential resources, such as Student Support and Advocacy Center (SSAC) at (703) 993-3686 or Counseling and Psychology Services (CAPS) at (703) 993-2380. The 24-hour Sexual and Intimate Partner Violence Crisis Line for George Mason is (703) 380-1434.
Costello College of Business Standards of Behavior
The mission of the Costello College of Business at George Mason University is to create and deliver high-quality educational programs and research. Students, faculty, staff, and alumni who participate in these educational programs contribute to the well-being of society. Highquality educational programs require an environment of trust and mutual respect, free expression and inquiry, and a commitment to truth, excellence, and lifelong learning. Students, program participants, faculty, staff, and alumni accept these principles when they join the Costello College of Business community. In doing so, they agree to abide by the following standards of behavior:
- Respect for the rights, differences, and dignity of others
- Honesty and integrity in dealing with all members of the community
- Accountability for personal behavior
Integrity is an essential ingredient of a successful learning community. Ethical standards of behavior help promote a safe and productive community environment and ensure every member the opportunity to pursue excellence. The Costello College of Business can and should be a living model of these behavioral standards. To this end, community members have a personal responsibility to integrate these standards into every aspect of their experience at the Costello College of Business. Through our personal commitment to these Community Standards of Behavior, we can create an environment in which all can achieve their full potential.
Honor Code
Student members of the George Mason University community pledge not to cheat, plagiarize, steal, or lie in matters related to academic work.
All academic work in this course, including quizzes, assignments, and exams, is to be your own work, unless otherwise specifically described by the instructor. It is your responsibility if you have any doubt to confirm whether or not collaboration is permitted. In this class, an honor code violation would occur if unauthorized collaboration took place or if unauthorized materials were used on quizzes, assignments, or exams. Examples of unauthorized collaboration include but are not limited to copying off another student’s quiz, assignment, or exam, discussing questions on the quiz, assignment, or exam during the quiz/assignment/exam, and a student who has taken an exam earlier telling other students answers or specific questions on the exam. Examples of unauthorized materials include but are not limited to use of laptops, phones, calculators, notes, or the textbook on a quiz, assignment, or exam in a way that departs from what I have explicitly allowed in the instructions. If any part of this honor code statement is not clear, ask me for a clarification.
I expect all students to follow the George Mason Honor Code. Violations of the Honor Code will be forwarded to the Honor Council for resolution. Students can review the academic standards code and sanctions matrix here.
Other Policies
Policies not explicitly stated in this syllabus are delegated to the George Mason University Catalog General Policies and the George Mason University Honor Code.
IV. Tentative Course Schedule
| Date | Topic Description |
|---|---|
| Week 1 | Introduction to Tax Strategy – Ch. 1 and Tax-Planning Fundamentals – Ch. 2 (2.1 and 2.3 only for Ch. 2) |
| Week 2 | Returns on Alternative Savings Vehicles – Ch. 3 Non-tax Costs of Tax Planning – Ch. 7 |
| Week 3 | Implicit Taxes and Clienteles, Marginal Tax Rates, and Arbitrage - Ch. 4. Going over assignments A1-A3. |
| Week 4 | MIDTERM (Ch. 1, 2, 3, and 7) in-person during normal class time. After exam day but prior to the end of the week (so not covered on the Midterm): Listen to a short, recorded lecture on ethics for tax practices and complete the related Ethics Assignment. |
| Week 5 | Compensation Planning – Ch. 8 |
| Week 6 | Pension and Retirement Planning – Ch. 9 Going over assignments A4-A5. |
| Week 7 | Choosing the Optimal Organizational Form – Ch. 5 Corporations: Formation, Operation, Capital Structure, and Liquidation – Ch. 6 Going over assignments A6. Will wait to post discussions of A7 until Sat. after its due and A8 until Monday, after its due date. |
| Week 8 | FINAL EXAM (Ch. 4, 8, 9, 5, and 6) in-person during normal class time. |
* The instructor reserves the right to make any necessary changes to the syllabus and course schedule with appropriate announcements in class and on Canvas Different instructors may integrate different projects or extra credit opportunities to support the goals for the course.
To print: Right-click and choose “Print,” then follow your browser’s print settings.
To download: Right-click and choose “Print,” then select “Save as PDF.”