ACC 455 Entire Course (UOP Course)
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www.tutorialrank.com ACC 455 Week 1 Individual assignment Tax Return Position Paper (UOP Course)
ACC 455 Week 1 DQ 1 (UOP Course)
ACC 455 Week 1 DQ 2 (UOP Course)
ACC 455 Week 1 DQ 3 (UOP Course)
ACC 455 Week 2 Individual Assignment Problem Set (UOP Course)
ACC 455 Week 2 Team Assignment Outline for Week 3 (UOP Course)
ACC 455 Week 2 DQ 1 (UOP Course)
ACC 455 Week 2 DQ 2 (UOP Course)
ACC 455 Week 2 DQ 3 (UOP Course)
ACC 455 Week 2 DQ 4 (UOP Course)
ACC 455 Week 3 Team Assignment Problem Set (UOP Course)
ACC 455 Week 3 DQ 1 (UOP Course)
ACC 455 Week 3 DQ 2 (UOP Course)
ACC 455 Week 3 DQ 3 (UOP Course)
ACC 455 Week 4 Team Assignment Outline for Week 5 (UOP Course)
ACC 455 Week 4 Individual Assignment Problem Set (UOP Course)
ACC 455 Week 4 DQ 1 (UOP Course)
ACC 455 Week 4 DQ 2 (UOP Course)
ACC 455 Week 4 DQ 3 (UOP Course)
ACC 455 Week 4 DQ 4 (UOP Course)
ACC 455 Week 5 Team Assignment Problem Set (UOP Course)
ACC 455 Week 5 DQ 1 (UOP Course)
ACC 455 Week 5 DQ 2 (UOP Course)
ACC 455 Week 5 DQ 3 (UOP Course)
ACC 455 Week 5 DQ 4 (UOP Course) -----------------------------------------------------------
ACC 455 Week 1 DQ 1 (UOP Course)
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www.tutorialrank.com 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? ---------------------------------------------------------------
ACC 455 Week 1 DQ 2 (UOP Course)
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www.tutorialrank.com What constitutes substantial authority for a position taken on a tax return? What options do you have if substantial authority is lacking? ----------------------------------------------------------------
ACC 455 Week 1 DQ 3 (UOP Course)
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www.tutorialrank.com 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 -------------------------------------------------------------------------
ACC 455 Week 1 Individual assignment Tax Return Position Paper (UOP Course)
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www.tutorialrank.com Suppose you have a concern about taking a particular position on a tax return. Write a 700-word paper that discusses the following: ¡
What are the primary sources of tax law?
¡
What are the secondary sources of tax law?
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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. -------------------------------------------------------------------
ACC 455 Week 1 tax Position Paper (2 Paper)
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www.tutorialrank.com 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
Format your paper consistent with APA guidelines.
Click the Assignment Files tab to submit your assignment as a Microsoft® Word document. -----------------------------------------------------------------
ACC 455 Week 2 Chapter 3 Discussion Questions
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www.tutorialrank.com Access p. 3-54 in Chapter 3 of your textbook Prentice Hall’s Federal Taxation 2016 Corporations, Partnerships, Estates& Trusts.
Write answers to questions C:3-1 through C:3-6.
Click the Assignment Files tab to submit your assignment in as a Microsoft® Word document. -----------------------------------------------------------
ACC 455 Week 2 Discussion Question Worksheet (New)
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www.tutorialrank.com Week 2 – Discussion Questions Worksheet
1. Pers, Inc. incorporates on September 13, 2016 and begins operations on October 26 of the same year. What alternative tax years can Pers, Inc. elect to report its initial year’s income if it is a C-corp? Would it make a difference if Pers, Inc. was to be a different type of entity? Please provide specific examples.
2. Lindel, Inc. currently uses a calendar year, but wants to change to a fiscal year ending on September 30th. a) Assume Lindel is a C-corp owned by 85 shareholders, each owning 5% or less of the total stock. Can Lindel change its tax year? What steps does the company need to take in order to do so? b) Assume Lindel is a S-corp owned by 100 shareholders, each owning 5% or less of the total stock. Can Lindel change its tax year? What steps does the company need to take in order to do so?
3. American Corporation incorporates on February 15 and begins business on
August 12. The company elects its initial tax year end on October 31. The following are expenses for American Corporation: February 30 – Travel expenses to inspect potential business location, $1,200 March 2 – Payment to lawyer for incorporation, $5,300 March 5 – Legal fees for stock issuance, $1,200 May 20 – Salary payment to CEO, $5,000 September 1 – First rent payment, $3,000 Please classify each expense as either an organizational or start-up expenditure. Which expenses can be deducted during the first year ending October 31?
4. What is the difference in tax treatment for capital gains/ capital losses for a corporation vs. an individual? Which is more beneficial?
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ACC 455 Week 2 DQ 1 (UOP Course)
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www.tutorialrank.com What are the alternative tax years available to a corporation? What factors should be considered in electing the tax year? -------------------------------------------------------------
ACC 455 Week 2 DQ 2 (UOP Course)
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www.tutorialrank.com 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? -------------------------------------------------------------------
ACC 455 Week 2 DQ 3 (UOP Course)
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www.tutorialrank.com 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. ---------------------------------------------------------------
ACC 455 Week 2 DQ 4 (UOP Course)
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www.tutorialrank.com What is the legislative intent behind the corporate alternative minimum tax (AMT)? Define tax preference items, AMT adjustment, and minimum tax credit. ---------------------------------------------------------------
ACC 455 Week 2 Individual Assignment Problem Set (UOP Course)
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Complete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations. ·
C:2-6
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C:2-40
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C:2-45
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 2 Team Assignment Outline for Week 3 (UOP Course)
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www.tutorialrank.com Please Provide a brief outline of how the team will be setting up the team problem in week 3. Please indicate who will be responsible for each section and a timeline to complete ----------------------------------------------------------------
ACC 455 Week 3 Chapter 11 Issue Identification Questions
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www.tutorialrank.com Access p. 11-41 in Chapter 11 of your textbook Prentice Hall’s Federal Taxation 2016 Corporations, Partnerships, Estates& Trusts . Write a minimum 175-word response to each question C:11-24 through C:11-27. Click the Assignment Files tab to submit your assignment as a Microsoft® Word document. ------------------------------------------------------------
ACC 455 Week 3 Discussion Questions Worksheet (New)
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www.tutorialrank.com Week 3 – Discussion Questions Worksheet (each question needs a minimum of a 175 word count answer)
1. Jeff and Louis own an S Corporation. Jeff and Louis own 50% of the corporation each. Jeff’s 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 Jeff’s tax liability? What about Louis’ tax liability?
2. Mary and Paul began a partnership 10 years ago that has been incredibly successful. Mary and Paul own 50% of the partnership each. Mary and Paul’s accountant has suggested that they incorporate as an S corp. To do so, the partnership will exchange all its existing assets and liabilities for the new S Corp stock on October 1 of the current year. The partnership will then liquidate by distributing the acquired S Corp stock to Mary and Paul, in equal parts. What are some of the most relevant tax implications of this transaction? Do you believe Mary and Paul’s accountant is providing good advice?
3. Anna and Brandon own an S Corporation. Anna and Brandon own 50% of the corporation each. Anna’s S Corporation stock basis at the beginning of the year was $175,000. Brandon’s was $225,000. The company is reporting an ordinary gain of $125,000 and will distribute land with a $85,000 adjusted basis and $425,000 FMV. How can this gain affect Anna’s tax liability? What about Brandon’s tax liability? What implications would this distribution have for each of them? Please calculate the gain that will be reported by each Anna and Brandon.
4. Johnson Corporation is a C Corp that has been in business since 2000. The corporation’s accountant, John Smith, has recommended converting from C corporation status to S corporation status. Johnson Corporation has assets with a $540,000 adjusted basis and an $800,000 fair market value. Liabilities are $75,000. The corporation is owned solely by its founder, Ray Johnson. Currently, Johnson Corporation uses accrual accounting and has selected a fiscal year which ends on June 30. Do you believe the conversion to S status is appropriate? What implications would it have on the corporation’s tax liability? What about Ray Johnson’s personal tax liability? ------------------------------------------------------------------
ACC 455 Week 3 DQ 1 (UOP Course)
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www.tutorialrank.com 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? -------------------------------------------------------------------------
ACC 455 Week 3 DQ 2 (UOP Course)
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Distinguish between current and accumulated earnings and profits. Why is it important to make this distinction? -------------------------------------------------------------------
ACC 455 Week 3 DQ 3 (UOP Course)
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www.tutorialrank.com What is a stock redemption? What are some reasons for redeeming stock? Why are some redemptions treated as sales and others as dividends? -----------------------------------------------------------------------
ACC 455 Week 3 Team Assignment Problem Set (UOP Course)
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www.tutorialrank.com Complete the problems found in Ch. 3 & 5 of Prentice Hall’s Federal Taxation 2010: Corporations with your Learning Team. ·
C:3-8 Discussion Question
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C:5-10 Discussion Question
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C:3-35 Problem
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C:3-38 Problem
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 4 DQ 1 (UOP Course)
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www.tutorialrank.com 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? --------------------------------------------------------------------
ACC 455 Week 4 DQ 2 (UOP Course)
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www.tutorialrank.com 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? -----------------------------------------------------------------------
ACC 455 Week 4 DQ 3 (UOP Course)
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www.tutorialrank.com What are separately stated items on a K-1? Why is it necessary to separate these items from ordinary income? -----------------------------------------------------------------------------
ACC 455 Week 4 DQ 4 (UOP Course)
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www.tutorialrank.com What is the difference between a distribution and a distributive share? How do these affect the owner’s K-1 and individual taxes?
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ACC 455 Week 4 Individual Assignment Problem Set (UOP Course)
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www.tutorialrank.com Complete the problems found in Ch. 4 & 6 of Prentice Hall’s Federal Taxation 2010: Corporations. ·
C:6-8 Discussion Question
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C:4-34 Problem
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C:4-36 Problem
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 4 Team Assignment Outline for Week 5 (UOP Course)
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www.tutorialrank.com Please Provide a brief outline of how the team will be setting up the team problem in week 5. Please indicate who will be responsible for each section and a timeline to complete --------------------------------------------------
ACC 455 Week 5 DQ 1 (UOP Course)
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www.tutorialrank.com What is a liquidating distribution? What is a nonliquidating distribution? Provide an example of each. -------------------------------------------------------
ACC 455 Week 5 DQ 2 (UOP Course)
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www.tutorialrank.com 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? --------------------------------------------------------------------------------
ACC 455 Week 5 DQ 3 (UOP Course)
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www.tutorialrank.com 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? -----------------------------------------------------------------------
ACC 455 Week 5 DQ 4 (UOP Course)
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www.tutorialrank.com 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? ---------------------------------------------------------------------------
ACC 455 Week 5 Team Assignment Problem Set (UOP Course)
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www.tutorialrank.com Complete the problems found in Ch. 9, 10, & 11 of Federal Taxation 2010: Corporations with your Learning Team. ·
C:9-35 Problem
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C:11-45 Problem
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C:10-4 Discussion Question (Ch. 10)
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C:11-47 Problem --–)
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. ------------------------------------------------------------------------