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ACC 401 Course Inspiring Minds / tutorialrank.com
The Best way to predict the Future is to create
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 1 Assignment Chapter 2 Problems 32
33 38(UOP)
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.
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 1 DQ 1 Basic Concepts
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
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 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 1 Quiz Set 2
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?
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 1 Quiz(UOP)
ACC 401 Week 1 Quiz
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 2 Assignment Chapter 4 problem 53
and problem 55(UOP)
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?
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ACC 401 Week 2 DQ 1 Adjusted Gross Income
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
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ACC 401 Week 2 DQ 2 Itemized Deductions
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 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 2 Quiz(UOP)
ACC 401 Week 2 Quiz
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 3 Assignment Chapter 6(UOP)
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
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 3 DQ 1 Self-Employed Business Income
Capital Gains
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?
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 3 DQ 2 Rental Property Royalties
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
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 3 Quiz(UOP)
ACC 401 Week 3 Quiz
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 4 Assignment Chapter 9, Problem 42
problem 49(UOP)
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?
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 4 DQ 1 Tax Credits and Payroll Taxes
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 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 5 DQ 1 Partnership Taxation
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 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 5 DQ 2 Corporate taxation
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 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 5 Final Paper Assignment (UOP)
QAppendix 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
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ACC 401 Course Inspiring Minds / tutorialrank.com
ACC 401 Week 5 Final Paper Assignment (UOP)
QAppendix 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
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ACC 401 Course Inspiring Minds / tutorialrank.com
The Best way to predict the Future is to create
it.....To Best way....
www.tutorialrank.com