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Acc 455 entire course Acc 455 entire course Document Transcript

  • ACC 455 Entire Course: University of Phoenix: New Updated CourseClick this link to get the tutorial:http://homeworkfox.com/questions/business/1594/acc-455-entire-course-university-of-phoenix-everything-included-new-updated-course/ACC 455 Week 1 Individual Assignment Tax ReturnPosition PaperSuppose you have a concern about taking a particular position on a tax return.Write a 700- to 1,050-word paper that discusses the following:What are the primary sources of tax law?What are the secondary sources of tax law?What is substantial authority?What is the role of the courts and the Internal Revenue Service in interpreting and applying thesources of tax law?Format your paper consistent with APA guidelines.Week 1 DQ1What business entities are available for a new business? What are the tax and nontaxadvantages of each form? Select two business types and provide an example of when thatselection is most appropriate from a tax perspective and from a nontax perspective.Week 1 DQ2Once a business has elected its tax status using check-the-box regulations, what options areavailable if it needs to change its tax status? What should a business consider beforeelecting to change its tax status?Week 1 DQ3
  • Do the following decisions have the same precedential value: (1) Tax Court regulardecisions, (2) Tax Court memo decisions (3) decisions under the small cases procedure ofthe Tax Court? Why?ACC 455 Week 2 Individual Assignment Week TwoProblem SetComplete the problems found in Ch. 2 of Prentice Hall’s Federal Taxation 2010: Corporations.C:2-3 Black LLCC:2-54 Bear CorporationC:2-55 Wildcat CorporationC:2-56 Tax Strategy for Wildcat CorporationRead 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 PDFdocument.ACC 455 Week 2 Learning Team Week TwoDiscussion QuestionWhat are the requirements for the following deductions: U.S. production activity deduction,dividend received deduction, and net operating loss? Discuss any recent legislative changes.Week 2 DQ1What are the alternative tax years available to a corporation? What factors should beconsidered in electing the tax year?Week 2 DQ2What is the legislative intent behind the corporate alternative minimum tax (AMT)? Definetax reference items, AMT adjustment, and minimum tax credit.
  • ACC 455 Week 3 Learning Team Assignment WeekThree Problem SetComplete the problems found in Ch. 3 & 5 of Prentice Hall’s Federal Taxation 2010:Corporations with your Learning Team.C:3-3 Discussion Question – Case Scenario on Tax Elections (Ch. 3)C:5-8 Discussion Question – Identify Items as AMT Adjustment or Preference (Ch. 5)C:3-37 Problem – Charitable Contributions of Property (Ch. 3)C:3-64 Tax Form /Return Preparation Problem – Knoxville Musical Sales Inc. Tax ReturnPreparation (Ch. 3)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 PDFdocument.Week 3 DQ1How does a corporation compute earnings and profits (E&P)? What income is deferred toa 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?Week 3 DQ2The corporation owns a building with a $160,000 adjusted basis and $120,000 fair marketvalue. The company has earnings and profits of $200,000. Is it more advantageous for thecompany to sell the property and distribute the sales proceeds to its shareholders ordistribute the property to its shareholders and let them sell the property? Why? If youwere a shareholder, what would be most advantageous to you?Week 3 DQ3What is a stock redemption? What are some reasons for redeeming stock? Why are someredemption treated as sales and others as dividends?
  • ACC 455 Week 4 Individual Assignment Week FourProblem SetComplete the problems found in Ch. 4 & 6 of Prentice Hall’s Federal Taxation 2010:Corporations.C:6-5 Discussion Question – Tax consequences of distributions (Ch. 6)C:4-29 Problem – Current E&P Computation (Ch. 4)C:4-52 Problem – Comparison of Dividends and Redemptions (Ch. 4)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 PDFdocument.ACC 455 Week 4 Learning Team Week FourDiscussion QuestionSue and Bill plan to open an accounting firm and expect to work full time in the firm. Theyexpect to incur a small loss during their first year of operation and expect to be profitable afterthe first year. What are the tax law requirements for structuring the business as a partnership oran S corporation? Which would you recommend and why?Week 4 DQ1Bob and Dave plan to start a business. Bob will contribute land and Dave will contributeservices. Would you recommend this business be formed as a partnership or as an Scorporation? Why?Week 4 DQ2What are separately stated items on a K-1? Why is it necessary to separate these itemsfrom ordinary income?ACC 455 Week 5 Learning Team Assignment WeekFive Problem Set
  • Complete the problems found in Ch. 9, 10, & 11 of Federal Taxation 2010: Corporations withyour Learning Team.C:9-32 Problem – Partnership Income and Basis Adjustments (Ch. 9)C:11-37 Problem – Determination of Pass-Throughs and Stock Basis Adjustments (Ch. 11)C:10-1 Discussion Question (Ch. 10)C:11-31 Problem – Termination of the Election (Ch. 11)C:11-56 Comprehensive Problem – Comparison of Entity Formations (Ch. 11)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 PDFdocument.Week 5 DQ1What is an inadvertent termination of an S election? How does an S corporation and itsshareholders rectify an inadvertent termination? What could happen if a company fails torectify the termination?Week 5 DQ2A C corporation has incurred substantial losses and the owners have decided to close thebusiness. What considerations should the owners make in this termination? Should theyconsider making an S election and then later, terminating the S corporation? If you weretheir tax advisor, what would you recommend?