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    Acc 455 Entire Course (Ash) Purchase here http://homeworkgoods.com/ACC%20455?product_id=1410 Product Description 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

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    Acc 455 Entire Course (Ash) Purchase here http://homeworkgoods.com/ACC%20455?product_id=1410 Product Description 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

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    © All Rights Reserved
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    18 views9 pages

    ACC 455 Corporate Taxation Complete Class

    Uploaded by

    Carmenjthompson
    Acc 455 Entire Course (Ash) Purchase here http://homeworkgoods.com/ACC%20455?product_id=1410 Product Description 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

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    of 9

    Acc 455 Entire Course (Ash)

    Purchase here

    http://homeworkgoods.com/ACC%20455?product_id=1410

    Product Description

    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 Halls 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 Halls 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 Halls 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?

    DQ 2 What are separately stated items on a K-1? Why is it necessary to separate these items
    from ordinary income?

    Week 5

    Learning Team Week Five Problem Set

    Complete the problems found in Ch. 9, 10, & 11 of Federal Taxation 2010: Corporations with
    your Learning Team.

    C:9-32 Problem Partnership Income and Basis Adjustments (Ch. 9)


    C:11-37 Problem Determination of Pass-Throughs and Stock Basis Adjustments (Ch. 11)
    C:10-1 Discussion Question (Ch. 10)
    C:11-31 Problem Termination of the Election (Ch. 11)
    C:11-56 Comprehensive Problem Comparison of Entity Formations (Ch. 11)

    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 What is an inadvertent termination of an S election? How does an S corporation and its


    shareholders rectify an inadvertent termination? What could happen if a company fails to rectify
    the termination?

    DQ 2 A C corporation has incurred substantial losses and the owners have decided to close the
    business. What considerations should the owners make in this termination? Should they consider
    making an S election and then later, terminating the S corporation? If you were their tax advisor,
    what would you recommend?

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