ACC 455 Education Begins/newtonhelp.com (1)

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ACC 455 Education Begins/newtonhelp.com
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ACC 455 Entire Course

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• ACC 455 Week 1 Individual assignment Tax Return
  Position PaperACC 455 Week 1 DQ 1ACC 455 Week 1
  DQ 2ACC 455 Week 1 DQ 3

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ACC 455 Week 1 DQ 1

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• 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? Which of the following sources do
  you think would be most beneficial for your
  client (1) Tax Court regular decisions, (2) Tax
  Court memo decisions, (3) decisions under the
  small cases procedure of the Tax Court, or (4)
  Fifth Circuit Court of Appeals?

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ACC 455 Week 1 DQ 2

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• What constitutes substantial authority for a
  position taken on a tax return? What options do
  you have if substantial authority is lacking?
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ACC 455 Week 1 DQ 3

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• 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
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ACC 455 Week 1 tax Position Paper (2 Paper)

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• ACC 455 Week 1 Tax Position Paper
• Write a 700- to 1,050-word paper that includes
  the following
•   What are the primary sources of tax law?
•   What are the secondary sources of tax law?
•   What is substantial authority?
•   Describe the role of the courts and the
  Internal Revenue Service in interpreting and
  applying the sources of tax law
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ACC 455 Week 2 Chapter 3 Discussion Questions

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• ACC 455 Week 2 Chapter 3 Discussion Questions
• Access p. 3-54 in Chapter 3 of your
  textbook Prentice Halls Federal Taxation 2016
  Corporations, Partnerships, Estates Trusts.
• Write answers to questions C3-1 through C3-6.
• Click the Assignment Files tab to submit your
  assignment in as a Microsoft Word document.
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ACC 455 Week 2 Discussion Question Worksheet (New)

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• 1. Pers, Inc. incorporates on September 13, 2016
  and begins operations onOctober 26 of the same
  year. What alternative tax years can Pers, Inc.
  electto report its initial years income if it
  is a C-corp? Would it make a difference ifPers,
  Inc. was to be a different type of entity? Please
  provide specificexamples.
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ACC 455 Week 2 DQ 1

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•  What are the alternative tax years available to
  a corporation? What factors should be considered
  in electing the tax year?

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ACC 455 Week 2 DQ 2

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• What methods of accounting are available to a
  small business and to a large business? If the
  business decides to make an accounting methods
  change, how is this accomplished?

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ACC 455 Week 2 DQ 3

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• 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.

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ACC 455 Week 2 DQ 4

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• What is the legislative intent behind the
  corporate alternative minimum tax (AMT)? Define
  tax preference items, AMT adjustment, and minimum
  tax credit.

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ACC 455 Week 3 Chapter 11 Issue Identification
Questions

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• ACC 455 Week 3 Chapter 11 Issue Identification
  Questions
• Access p. 11-41 in Chapter 11 of your
  textbook Prentice Halls Federal Taxation 2016
  Corporations, Partnerships, Estates Trusts.
• Write a minimum 175-word response to each
  question C11-24 through C11-27.
• Click the Assignment Files tab to submit your
  assignment as a Microsoft Word document.
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ACC 455 Week 3 Discussion Questions Worksheet
(New)

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• 1.      Jeff and Louis own an S Corporation. Jeff
  and Louis own 50 of the corporation each. Jeffs
  S Corporation stock basis at the beginning of the
  year was 150,000. Louis was 120,000. The
  company is reporting an ordinary loss of
  285,000. How can this loss affect Jeffs tax
  liability? What about Louis tax liability?
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ACC 455 Week 3 DQ 1

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• How does a corporation compute earnings and
  profits (EP)? What income is deferred to a later
  year when computing taxable income but is
  included in EP in the current year? What
  deductions are allowed for taxable income
  purposes but denied for EP?

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ACC 455 Week 3 DQ 2

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• Distinguish between current and accumulated
  earnings and profits. Why is it important to make
  this distinction?

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ACC 455 Week 3 DQ 3

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• What is a stock redemption? What are some reasons
  for redeeming stock? Why are some redemptions
  treated as sales and others as dividends?

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ACC 455 Week 3 Team Assignment Phoenix Medical
Worksheet, Part 1

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• ACC 455 Week 3 Team Assignment, Part 1
• Phoenix Medical Worksheet
• Week 3 Determine Adjusted Book Income
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ACC 455 Week 4 Chapter 6 Issue Identification
Questions

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• ACC 455 Week 4 Chapter 6 Issue Identification
  Questions
• Access p. 6-23 in Chapter 6 of your
  textbook Prentice Halls Federal Taxation 2016
  Corporations, Partnerships, Estates Trusts.
• Write a minimum 175-word response to each
  question, C6-29 though C6-31.
• Click the Assignment Files tab to submit your
  assignment as a Microsoft Word document.
•  

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ACC 455 Week 4 Discussion Question Worksheet (New)

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• 1.      The holding company Port, Inc. is owned
  50  by John and 50 by Peter. The company
  invests in real estate bonds and stocks, land and
  buildings from different enterprises, including
  Omega, Inc. Landside, Inc. and Best Properties,
  LLC. In order to avoid personal holding company
  tax, Peter and John plan to liquidate Port, Inc.
  within the next quarter. Please consider the
  following questions with respect to this case
• a.       In which case would the open transaction
  doctrine apply to Port, Inc.?
• b.      Can Port, Inc. change its market
  composition/activities to decrease personal
  holding company tax?
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ACC 455 Week 4 DQ 1

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•  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?
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ACC 455 Week 4 DQ 2

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• 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?

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ACC 455 Week 4 DQ 3

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

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ACC 455 Week 4 DQ 4

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• What is the difference between a distribution and
  a distributive share? How do these affect the
  owners K-1 and individual taxes?
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ACC 455 Week 4 Team Phoenix Medical Part 2 (Form
1120)

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• Utilizing the spreadsheet and worksheet generated
  in Week 3, prepare pages 1 through 5 of Form 1120
  US Corporation Income Tax Return
•   Utilize PDF fill-in form.
•   See additional information attached.
• Click the Assignment Files tab to submit your
  assignment as a Microsoft Word document.
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ACC 455 Week 5 Chapter 5 Discussion Questions

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•  ACC 455 Week 5 Chapter 5 Discussion Questions
• Access p. 5-38 in Chapter 5 of your
  textbook Prentice Halls Federal Taxation 2016
  Corporations, Partnerships, Estates Trusts.
• Write answers to questions C5-1 through C5-10.
• Click the Assignment Files tab to submit your
  assignment as a Microsoft Word document.
•  

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ACC 455 Week 5 DQ 1

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• What is a liquidating distribution? What is a
  nonliquidating distribution? Provide an example
  of each.

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ACC 455 Week 5 DQ 2

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• 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?
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ACC 455 Week 5 DQ 3

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• What events will cause an S election to
  terminate? What would you recommend S
  corporations do to plan for an orderly
  termination of an S election?
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ACC 455 Week 5 DQ 4

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• 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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ACC 455 Week 5 Team Assignment Part 3 (Form 1065)

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• ACC 455 Week 5 Team Assignment, Part 3
• Utilizing the included resources, complete tax
  Form 1065.
• Click the Assignment Files tab to submit your
  assignment as a Microsoft Word document.
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ACC 455 Education Begins/newtonhelp.com