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ACC 455 Complete Class

ACC 455 Complete Class

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Published by tutorialsoutlet
ACC455 Corporate Taxation Complete Class
Click here To Get Entire Class
http://www.homework-aid.com/ACC455-Corporate-Taxation-Entire-Class-026.htm


Week 1
Individual Tax Return Position Paper
Suppose you have a concern about taking a particular position on a tax return.

Write a 700- to 1,050-word paper that discusses the following:

• What are the primary sources of tax law?
• What are the secondary sources of tax law?
• What is substantial authority?
• What is the role of the courts and the Internal Revenue Service in interpreting and applying the sources of tax law?

Format your paper consistent with APA guidelines.
Discussion Questions
DQ 1 What business entities are available for a new business? What are the tax and nontax advantages of each form? Select two business types and provide an example of when that selection is most appropriate from a tax perspective and from a nontax perspective.
DQ 2 Once a business has elected its tax status using check-the-box regulations, what options are available if it needs to change its tax status? What should a business consider before electing to change its tax status?
DQ 3 Do the following decisions have the same precedential value: (1) Tax Court regular decisions, (2) Tax Court memo decisions (3) decisions under the small cases procedure of the Tax Court? Why?
Week 2
Individual Week Two Problem Set
Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations.

• C:2-3 Black LLC
• C:2-54 Bear Corporation
C:2-55 Wildcat Corporation
• C:2-56 Tax Strategy for Wildcat Corporation

Read the scenario and respond to the questions.
Support your answers with calculations, as needed.
Show your work.
Submit your completed assignment as a Microsoft® Excel®, a Microsoft® Word, or a PDF document.
Learning Team Week Two Discussion Question

• What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes.

Discussion Questions
DQ 1 What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year?
DQ 2 What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax reference items, AMT adjustment, and minimum tax credit
Week 3
Learning Team Week Three Problem Set
Complete the problems found in Ch. 3 & 5 of Prentice Hall’s Federal Taxation 2010: Corporations with your Learning Team.

• C:3-3 Discussion Question – Case Scenario on Tax Elections (Ch. 3)
• C:5-8 Discussion Question – Identify Items as AMT Adjustment or Preference (Ch. 5)
• C:3-37 Problem – Charitable Contributions of Property (Ch. 3)
• C:3-64 Tax Form /Return Preparation Problem – Knoxville Musical Sales Inc. Tax Return Preparation (Ch. 3)

Read the scenario and respond to the questions.
Support your answers with calculations, as needed.
Show your work.
Submit your completed assignment as a Microsoft® Excel®, a Microsoft® Word, or a PDF document.

Discussion Questions
DQ 1 How does a corporation compute earnings and profits (E&P)? What income is deferred to a later year when computing taxable income but is included in E&P in the current year? What deductions are allowed for taxable income purposes but denied for E&P?
DQ 2 The corporation owns a building with a $160,000 adjusted basis and $120,000 fair market value. The company has earnings and profits of $200,000. Is it more advantageous for the company to sell the property and distribute the sales proceeds to its shareholders or distribute the property to its shareholders and let them sell the property? Why? If you were a shareholder, what would be most advantageous to you?
DQ 3 What is a stock redemption? What are some reasons for redeeming stock? Why are some redemption treated as sales and others as dividends?

Week 4
Individual Week Four Problem Set
Complete the probl
ACC455 Corporate Taxation Complete Class
Click here To Get Entire Class
http://www.homework-aid.com/ACC455-Corporate-Taxation-Entire-Class-026.htm


Week 1
Individual Tax Return Position Paper
Suppose you have a concern about taking a particular position on a tax return.

Write a 700- to 1,050-word paper that discusses the following:

• What are the primary sources of tax law?
• What are the secondary sources of tax law?
• What is substantial authority?
• What is the role of the courts and the Internal Revenue Service in interpreting and applying the sources of tax law?

Format your paper consistent with APA guidelines.
Discussion Questions
DQ 1 What business entities are available for a new business? What are the tax and nontax advantages of each form? Select two business types and provide an example of when that selection is most appropriate from a tax perspective and from a nontax perspective.
DQ 2 Once a business has elected its tax status using check-the-box regulations, what options are available if it needs to change its tax status? What should a business consider before electing to change its tax status?
DQ 3 Do the following decisions have the same precedential value: (1) Tax Court regular decisions, (2) Tax Court memo decisions (3) decisions under the small cases procedure of the Tax Court? Why?
Week 2
Individual Week Two Problem Set
Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations.

• C:2-3 Black LLC
• C:2-54 Bear Corporation
C:2-55 Wildcat Corporation
• C:2-56 Tax Strategy for Wildcat Corporation

Read the scenario and respond to the questions.
Support your answers with calculations, as needed.
Show your work.
Submit your completed assignment as a Microsoft® Excel®, a Microsoft® Word, or a PDF document.
Learning Team Week Two Discussion Question

• What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes.

Discussion Questions
DQ 1 What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year?
DQ 2 What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax reference items, AMT adjustment, and minimum tax credit
Week 3
Learning Team Week Three Problem Set
Complete the problems found in Ch. 3 & 5 of Prentice Hall’s Federal Taxation 2010: Corporations with your Learning Team.

• C:3-3 Discussion Question – Case Scenario on Tax Elections (Ch. 3)
• C:5-8 Discussion Question – Identify Items as AMT Adjustment or Preference (Ch. 5)
• C:3-37 Problem – Charitable Contributions of Property (Ch. 3)
• C:3-64 Tax Form /Return Preparation Problem – Knoxville Musical Sales Inc. Tax Return Preparation (Ch. 3)

Read the scenario and respond to the questions.
Support your answers with calculations, as needed.
Show your work.
Submit your completed assignment as a Microsoft® Excel®, a Microsoft® Word, or a PDF document.

Discussion Questions
DQ 1 How does a corporation compute earnings and profits (E&P)? What income is deferred to a later year when computing taxable income but is included in E&P in the current year? What deductions are allowed for taxable income purposes but denied for E&P?
DQ 2 The corporation owns a building with a $160,000 adjusted basis and $120,000 fair market value. The company has earnings and profits of $200,000. Is it more advantageous for the company to sell the property and distribute the sales proceeds to its shareholders or distribute the property to its shareholders and let them sell the property? Why? If you were a shareholder, what would be most advantageous to you?
DQ 3 What is a stock redemption? What are some reasons for redeeming stock? Why are some redemption treated as sales and others as dividends?

Week 4
Individual Week Four Problem Set
Complete the probl

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ACC455 Corporate Taxation Complete Class
Week 1
Individual Tax Return Position Paper
Suppose you have a concern about taking a particular position on a tax return.
Write
 a 700- to 1,050-word paper that discusses the following:
 What are the primary sources of tax law?
 What are the secondary sources of tax law?
 What is substantial authority?
 What is the role of the courts and the Internal Revenue Service in interpreting and applying the sources of tax law?
Format
 your paper consistent with APA guidelines.
Discussion Questions DQ 1
 What business entities are available for a new business? What are the tax and nontax advantages of each form? Select two business types and provide an example of when that selection is most appropriate from a tax perspective and from a nontax perspective.
DQ 2
 Once a business has elected its tax status using check-the-box regulations, what options are available if it needs to change its tax status? What should a business consider before electing to change its tax status?
DQ 3
 Do the following decisions have the same precedential value: (1) Tax Court regular decisions, (2) Tax Court memo decisions (3) decisions under the small cases procedure of the Tax Court? Why?
Week 2
 
Individual Week Two Problem Set
Complete the problems found in Ch. 2 of
Prentice Hall’s Federal Taxation 2010: Corporations
.
 C:2-3 Black LLC
 C:2-54 Bear Corporation
C:2-55 Wildcat Corporation
 C:2-56 Tax Strategy for Wildcat Corporation Read the scenario and respond to the questions. Support your answers with calculations, as needed. Show your work.
Submit your completed assignment as a Microsoft
®
 Excel
®
, a Microsoft
®
Word, or a PDF document.
Learning Team Week Two Discussion Question
 What are the requirements for the following deductions: U.S. production activity deduction, dividend received deduction, and net operating loss? Discuss any recent legislative changes.
Discussion Questions DQ 1
 What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year?
DQ 2
What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax reference items, AMT adjustment, and minimum tax credit
 
Week 3
Learning Team Week Three Problem Set
Complete the problems found in Ch. 3 & 5 of
Prentice Hall’s Federal Taxation 2010: Corporations
with your Learning Team
.
 
 C:3-3 Discussion Question
 –
 Case Scenario on Tax Elections (Ch. 3)
 C:5-8 Discussion Question
 –
 Identify Items as AMT Adjustment or Preference (Ch. 5)
 C:3-37 Problem
 –
 Charitable Contributions of Property (Ch. 3)
 C:3-64 Tax Form /Return Preparation Problem
 –
 Knoxville Musical Sales Inc. Tax Return Preparation (Ch. 3) Read the scenario and respond to the questions. Support your answers with calculations, as needed. Show your work.
Submit your completed assignment as a Microsoft
®
 Excel
®
, a Microsoft
®
 Word, or a PDF document.
 
 Discussion Questions DQ 1
 How does a corporation compute earnings and profits (E&P)? What income is deferred to a later year when computing taxable income but is included in E&P in the current year? What deductions are allowed for taxable income purposes but denied for E&P?
DQ 2
 The corporation owns a building with a $160,000 adjusted basis and $120,000 fair market value. The company has earnings and profits of $200,000. Is it more advantageous for the company to sell the property and distribute the sales proceeds to its shareholders or distribute the property to its shareholders and let them sell the property? Why? If you were a shareholder, what would be most advantageous to you?
DQ 3
 What is a stock redemption? What are some reasons for redeeming stock? Why are some redemption treated as sales and others as dividends?
Week 4
Individual Week Four Problem Set
Complete the problems found in Ch. 4 & 6 of
Prentice Hall’s Federal Taxation 2010: Corporations
.
 C:6-5 Discussion Question
 –
 Tax consequences of distributions (Ch. 6)
 C:4-29 Problem
 –
 Current E&P Computation (Ch. 4)
 C:4-52 Problem
 –
 Comparison of Dividends and Redemptions (Ch. 4) Read the scenario and respond to the questions. Support your answers with calculations, as needed. Show your work.
Submit your completed assignment as a Microsoft
®
 Excel
®
, a Microsoft
®
 Word, or a PDF document.
Learning Team Week Four Discussion Question
 Sue and Bill plan to open an accounting firm and expect to work full time in the firm. They expect to incur a small loss during their first year of operation and expect to be profitable after the first year. What are the tax law requirements for structuring the business as a partnership or an S corporation? Which would you recommend and why?
Discussion Questions DQ 1
 Bob and Dave plan to start a business. Bob will contribute land and Dave will contribute services. Would you recommend this business be formed as a partnership or as an S corporation? Why?

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