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ACC 401 ASSIST Real Tradition Real
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ACC 401 Entire Course FOR MORE CLASSES VISIT
www.acc401assist.com ACC 401 Week 1 Assignment
Chapter 2 Problems 32, 33 38 ACC 401 Week 1
Quiz ACC 401 Week 1 Quiz Set 2 ACC 401 Week 1
DQ 1 Basic Concepts ACC 401 Week 1 DQ 2 Gross
Income ACC 401 Week 2 Assignment Chapter 4
problem 53 and problem 55 ACC 401 Week 2 DQ 1
Adjusted Gross Income ACC 401 Week 2 DQ 2
Itemized Deductions ACC 401 Week 2 Quiz
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ACC 401 Week 1 Assignment Chapter 2 Problems 32,
33 38 (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com 32) List the five types of
filing status and briefly explain the
requirements for the use of each one. 33) In
which of the following cases may the taxpayer
claim head of household filing status? a. The
taxpayer is single and maintains a household
which is the principal place of abode of her
infant son. b. The taxpayer is single and
maintains a household for herself and maintains a
separate household which is the principal place
of abode of her dependent widowed mother.
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ACC 401 Week 1 DQ 1 Basic Concepts FOR MORE
CLASSES VISIT www.acc401assist.com From Chapter
1, complete discussion questions 6, 9, 10. From
Chapter 2, complete discussion questions 3, 6, 9,
10. Review Appendix E (2014 IRS Tax Forms) to
see where dependents are shown on the tax return.
Remember to complete all parts of the problems
and report the results of your analysis. Do not
forget to show the necessary steps and explain
how you attained that outcome.
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ACC 401 Week 1 DQ 2 Gross Income FOR MORE CLASSES
VISIT www.acc401assist.com From Chapter 3,
answer discussion questions 1, 2, 3, 10, 12,
15. Remember to complete all parts of the
problems and report the results of your analysis.
Do not forget to show the necessary steps and
explain how you attained that outcome.
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ACC 401 Week 1 Quiz (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com QUIZ 1 1) Under the
cash receipts and disbursements method, the
taxpayer reports income in the year 2)
What item should not be included in income? 3)
Which of the following statements is true with
respect to marginal and average tax rates? 4)
In terms of dollars, wage earning taxpayers
will normally pay the majority of their tax
liability 5) Income may be realized in the
form of 6) Maria is 21 years of age and a
full-time student living by herself. She had
wages of 19,000 for 2007. Can Maria claim the
exemption for herself on her tax return?
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ACC 401 Week 1 Quiz Set 2 FOR MORE CLASSES VISIT
www.acc401assist.com 1. Question What is the
amount of the social security wage limitation for
2014? 2. Question With respect to the income
tax formula, which of the following statements
is 3. Question To be a qualifying child, the
taxpayermust meet three general tests and
five specific tests. Which one is not part of the
five specific tests? 4. Question Which of the
following would disqualify a taxpayer from filing
a Form 1040EZ? 5. Question The basic standard
deduction in 2014 for a single taxpayer who is 67
years old and not blind is
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ACC 401 Week 2 Assignment Chapter 4 problem 53
and problem 55 (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com 53. Under the terms of a
divorce decree executed May 1, 2008, Rob
transferred a house worth 650,000 to his
ex-wife, Linda, and was to make alimony payments
of 3,000 per month. The property has a tax basis
to Rob of 300,000. a. How much of this must be
reported on Lindas tax return? b. Of that
amount, how much is taxable gain or loss that
Linda must recognize related to the transfer of
the house? 54. Under the alimony recapture rules,
what amounts are designated for recapture
reclassification, and what are the tax
consequences?
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ACC 401 Week 2 DQ 1 Adjusted Gross Income FOR
MORE CLASSES VISIT www.acc401assist.com 38. What
are some of the limitations concerning
deductibility of student loan interest? Be
specific and comprehensive 43. How much, if any,
may Antonio take as a moving expense deduction on
his 2014 tax return? Is that deduction subject to
any conditions that could change its
deductibility in the future? 47. Three types of
payments are associated with a decree of
separation or a divorce. a. What are those three
payments b. Which one has a tax consequence
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ACC 401 Week 2 DQ 2 Itemized Deductions FOR MORE
CLASSES VISIT www.acc401assist.com Ch5. 48.
Mickey is a 12-year-old dialysis patient. Three
times a week he and his mother, Sue, drive 20
miles one way to Mickeys dialysis clinic. On the
way home they go 10 miles out of their way to
stop at Mickeys favorite restaurant. Their total
round trip is 50 miles per day. How many of those
miles, if any, can Sue use to calculate an
itemized deduction for transportation? Use the
mileage rate in effect for 2010. Explain your
answer.
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ACC 401 Week 2 Quiz (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com QUIZ 2 1) Henry graduated
from university of Maryland in 2006, in 2009, to
take advantage of lower interest rates, he
refinanced his qualified education loans with
another loan. He is not a dependent on another
persons tax return. What is the maximum
deduction available to him for the 3,200 he paid
for educational loan interest in 2009? 2) Which
of the following interest expenses incurred by
Amanda is treated as personal interest expense
and, therefore not deductible as an itemized
deduction?
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ACC 401 Week 3 Assignment Chapter 6 (UOP) FOR
MORE CLASSES VISIT www.acc401assist.com 39.
David is a college professor who does some
consulting work on the side. He uses 25 of his
home exclusively for the consulting practice. He
is single and 63 years old. His AGI (without
consideration of consulting income) is 45,000.
Other information follows Income from consulting
business 4,000 Consulting expenses other than
home office 1,500 Total costs relating to home
Interest and taxes 6,500 Utilities
1,500 Maintenance and repairs 450 Depreciation
(business part only) 1,500 43. Janet purchased
her personal residence in 2000 for 250,000. In
January 2009 she converted it to rental property.
The fair market value at the time of conversion
was 210,000.
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ACC 401 Week 3 DQ 1 Self-Employed Business Income
Capital Gains FOR MORE CLASSES VISIT
www.acc401assist.com Ch6. 1. Discuss the
definition of trade or business. Why does it
matter whether a taxpayer is classified as an
employee or as self-employed? 2. Discuss the
concepts of ordinary, necessary, and reasonable
in relation to trade or business expenses. 9.
Discuss the concept of electing 179 expense.
Does the election allow a larger expense
deduction in the year of asset acquisition? 15.
Why were the hobby loss rules established? What
factors determine whether an activity is a trade
or business or a hobby? Is any one factor
controlling?
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ACC 401 Week 3 DQ 2 Rental Property
Royalties FOR MORE CLASSES VISIT
www.acc401assist.com Ch8. 33. Ramone is a tax
attorney and he also owns an office building that
he rents for 8,500 /month. He is responsible for
paying all taxes and expenses relating to the
buildings operation and maintenance. Is Ramone
engaged in the trade or business of renting real
estate? 34. Kelvin owns and lives in a duplex.
He rents the other unit for 750 per month. He
incurs the following expenses during the current
year for the entire property How are the
expenditures treated for tax purposes? On what
tax form(s) are these amounts reported?
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ACC 401 Week 3 Quiz (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com QUIZ 3 1) Which one of the
following is Section 1231 property? 2) Which of
the following expense items is (are) deductible
as rental expense? 3) If an activity is
considered a hobby, which of the following is
true? 4) 179 expense is available for all of the
following business assets except 5) Brad and
Kate receive 9,500 for rent from Mike and Janet,
who are renting their home in Santa Ana,
California. Brad and Kate do not use this
property for personal use. The rent covers eight
months from August 1 of the current year to March
31 of the following year. The amount also
includes a security deposit of 1,500. How much
should Brad and Kate report as rental income in
the current tax year?
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ACC 401 Week 4 Assignment Chapter 9, Problem 42
problem 49 (UOP) FOR MORE CLASSES VISIT
www.acc401assist.com 42. Tim and Martha paid
7,900 in qualified employment-related expenses
for their three young children who live with them
in their household. Martha received 1,800 of
dependent care assistance from her employer,
which was properly excluded from gross income.
The couple had 57,000 of AGI earned equally by
Tim and Martha. What amount of child and
dependent care tax credit can they claim on their
Form 1040? How would your answer differ (if at
all) if the couple had AGI of 36,000 that was
entirely earned by Tim? 49. Jeremy and Celeste
paid the following for their daughter, Alyssa, to
attend University of Colorado, during 2009.
Alyssa was in her first year of college and
attended full-time Tuition and fees (for fall
semester 2009) 1,950
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ACC 401 Week 4 DQ 1 Tax Credits and Payroll
Taxes FOR MORE CLASSES VISIT www.acc401assist.com
From Chapter 9, complete questions 3 and 7, and
problem 43. From Chapter 10, complete question 1
and question 7. Remember to complete all parts of
the problems and report the results of your
analysis. Do not forget to show the necessary
steps and explain how you attained that outcome.
Respond to at least two of your classmates'
postings.
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ACC 401 Week 4 DQ 2 Payroll Taxes and Retirement
Plans FOR MORE CLASSES VISIT www.acc401assist.com
From Chapter 10, complete questions 12 and 13.
From Chapter 11, complete question 5, question
15, and question 19. Remember to complete all
parts of the problems and report the results of
your analysis. Do not forget to show the
necessary steps and explain how you attained that
outcome.
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ACC 401 Week 5 DQ 1 Partnership Taxation FOR MORE
CLASSES VISIT www.acc401assist.com Chapter 14,
problems 1, 3, 12, and 15. 1. Discuss the
formation of a partnership. Is any gain or loss
recognized? Explain. 3. How do taxation for the
corporate form and taxation for the partnership
form differ? 12. Can a partner have a salary
from a partnership? Why? What is a guaranteed
payment? 15. If a partner owns a 20 interest,
does that necessarily mean that he or she will
receive 20 of the net income from the
partnership? Explain.
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ACC 401 Week 5 DQ 2 Corporate taxation FOR MORE
CLASSES VISIT www.acc401assist.com Chapter 15,
problems 4, 6, 14 and 16. 4.Explain the 80 rule
as it pertains to the formation of a
corporation. 6.An individual contributes
property with a fair market value in excess of
basis to a corporation in exchange for stock.
What is the basis of the stock in the hands of
the shareholder, and what is the basis of the
property contributed in the hands of the
corporation?
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ACC 401 Week 5 Final Paper Assignment (UOP) FOR
MORE CLASSES VISIT www.acc401assist.com QAppendi
x A Please use this information for your Tax
Return and Paper. All people, businesses, and
information are fictional. Any relation to an
actual person or business is accidental. Harold
Petersan SSN 0XX-01-1XXX Date of Birth (DOB)
05/27/1975 Gross Pay 51,750 401(k)
contributions 4,140 Healthcare costs (payroll
deductions) 1347 Reported wages 46,263 Social
Security Wages 50,403
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