ACCT 553 Experience Tradition / tutorialrank.com (1) - PowerPoint PPT Presentation

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ACCT 553 Experience Tradition / tutorialrank.com (1)

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For more course tutorials visit www.tutorialrank.com Chapter 4 1.Your brother is short on cash and cannot pay his rent this month. You pay his rent for him. Is this taxable income to your brother? Do you get a deduction? (2 pts) 2.Which of the following items would beexcluded from income? (a) $100 bill found under the sugar caddy at the restaurant (b) Inheritance of a car from your grandmother valued at $5,000. (c) Loan from your father-in-law to start your business, (d) Child Support received totaling $16,500. (4 pts) – PowerPoint PPT presentation

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Title: ACCT 553 Experience Tradition / tutorialrank.com (1)


1
ACCT 553 Experience Tradition-tutorialrank.com
For More Tutorials
www.tutorialrank.com
2
ACCT 553 Experience Tradition-tutorialrank.com
  • ACCT 553 Week 2 Homework Assignment
  • ACCT 553 Week 4 Homework Assignment
  • Chapter 4
  •  
  • 1.Your brother is short on cash and cannot pay
    his rent this month. You pay his rent for him. Is
    this taxable income to your brother? Do you get a
    deduction? (2 pts)
  • ACCT 553 Week 4 Homework Assignment
  • .

3
ACCT 553 Experience Tradition-tutorialrank.com
  • ACCT 553 Week 4 Homework Assignment
  • ACCT 553 Week 4 You Decide
  • ACCT 553 Week 4 Homework Assignment
  • ACCT 553 Week 4 You Decide

4
ACCT 553 Experience Tradition-tutorialrank.com
  • ACCT 553 Week 5 Homework Assignment
  • ACCT 553 Week 6 Homework Assignment
  • Chapter 14
  •  1. Please explain how Charitable Contributions
    come into play in determining "Corporate" taxable
    income. (5 pts)
  •  
  • 2. What happens to a loss on the Corporate Tax
    Return (Form 1120)? Does it pass through to the
    shareholders? Is it available for future or past
    periods? Please explain in detail. (5 pts.)
  • Chapter 21 
  • 1. Please explain how an S Corporation is
    created. (5 pts) 
  • 2. Please explain how Charitable Contributions
    made at the S-Corporation level are treated for
    tax purposes. (5 pts.)
  •  
  • 3. How are fringe benefits received by an S
    Corporation Shareholder treated for tax purposes?
    (5 pts

5
ACCT 553 Experience Tradition-tutorialrank.com
  • ACCT 553 Week 7 Homework Assignment
  • ACCT 553 Week 7 Homework
  • Chapters 10-11-12
  •  
  • 1. Please explain the distinction between a
    "realized" gain and a "recognized" gain. (5 pts)
  •  
  • 2. Are there any limits to the deductibility of
    losses on sales and exchanges between related
    parties? What code section defines this
    limitation? (5 pts.)
  • ACCT 553 Week 7 Homework

6
ACCT 553 Experience Tradition-tutorialrank.com
For More Tutorials
www.tutorialrank.com
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