ACC 455 Complete Class Corporate Taxation

ACC 455 Complete Class Corporate Taxation

ACC 455 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?

 

ACC 455   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.

ACC 455 Week 1 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

 

ACC 455  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?

 

 

ACC 455  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.

ACC 455  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?

 

 

ACC 455  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?

Course Home Work aims to provide quality study notes and tutorials to the students of ACC 455 Complete Class Corporate Taxation  in order to ace their studies.

Course Home Work – Best Home Work Tutorials

ACC 455 Complete Class Corporate Taxation

Course Home Work, ACC 455 Complete Class Corporate Taxation , Home Work Tutorials, Home Work Solutions, Home Work Essay, Home Work Questions.ACC 565 Wk 7 Assignment 3, ACC403 week 2 assignment, ACC565 Week 10, ACCT 212 (Financial Accounting),  ACCT 344 (Entire Course) – Devry, ACCT 344 Final Exam Latest 2014 – Devry,  ACCT 346 (Managerial Accounting), ACCT 346 Midterm Exam Updated DeVry, ACCT 504, ACCT 504 Week 8, ACCT 553, ART 101 Week 8, Ashford BUS 401, ASHFORD BUS 640, Ashford HIS 204, ASHFORD MAT 222 Week 3, BA 215 (Business Statistics), BA 215 All Assignments Week 1 -8 – Grantham, BA 225, BA 260, BA 265 (Business Law II), BA 265 (Business Law II) FINAL EXAM, BA 340 All Course Assignments, BA 340 Human Resource, BA 370 (Employment Law), BA 405 Multinational Management, BA 470 Week 3 – 5 – 6 – 7, BA 470 Entrepreneurship, BA350 Principles Of Finance, BIS 155 Final Exam – DeVry, BIS 220 Final Exam, BSOP 429, BSOP 434 Entire Course – Devry, BUS 303 Week 2, BUS 303 Week 3, BUS 303 Week 5, BUS 311 Business Law, BUS 330 Week 1, BUS 330 Week 3, BUS 330 Week 5, BUS 401 Week 4 DQ 1, BUS 401 Week 4 DQ 2, BUS 402 WEEK 4, BUS 405 (Principles of Investment), BUS 475, BUS 475 Final Exam 100 MCQS, BUS 475 Final Exam 600 MCQS, BUS 599 (STRAYER), BUS 599 Assignment, BUS 620 Week 4, BUS 640 Week 1, BUS499 Asignment 4, BUS508 Asignment 1, BUS499 Assignment 3.

ACC 455 Complete Class Corporate Taxation