Acct-553 Federal Taxes and Management Decisions Entire Course

4032 Words Jul 8th, 2016 17 Pages
ACCT-553 Federal Taxes and Management Decisions Entire Course

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ACCT 553 Week 1 Homework
ACCT 553 Week 2 Homework
ACCT 553 Week 3 Homework
ACCT 553 Week 3 Quiz.docx
ACCT 553 Week 4 Homework
ACCT 553 Week 4 You Decide .
ACCT 553 Week 5 Homework
ACCT 553 Week 5 Quiz.docx
ACCT 553 Week 6 Homework
ACCT 553 Week 6 You Decide .
ACCT 553 Week 7 Homework
ACCT 553 Midterm Exam
ACCT 553 Final Exam

ACCT 553 Week 1 Homework

Chapter 1 (5 pts)
1. Briefly discuss the purpose of the Sixteenth Amendment
Chapter 2 (5 pts)
2. Explain
…show more content…
(5 pts)
Chapter 6
5. Explain the limitations placed on the deductibility of Business Gifts? What code section dictates this treatment? (5 pts)

ACCT 553 Week 3 Homework

Chapter 7
1. In your “own” words, please describe what a “Suspended Loss” is, how it is generated and when it is becomes deductible. (5 pts)
2. Please describe “Active Participation” as it relates to a taxpayer’s involvement in an investment in Real Estate. (5 pts).
Chapter 8
3. Macy had a lot of medical expenses this year that were not covered by her insurance (either due to a deductible, co-insurance, or co-pay). Her un-reimbursed qualifying medical expenses total $8,356 and her AGI for 2013 is $45,000. Assuming she will itemize on her 2013 tax return, how much of her medical expenses will she be able to deduct? (5 pts)
4. Heather & Terry have a mortgage on their primary residence of $750,000 and a mortgage on their vacation home of $410,000. In 2013, they incurred $46,400 of mortgage interest expense. How much, if any, of that interest is deductible on Schedule A? (5 pts)

ACCT 553 Week 3 Quiz

1. (TCO A) A taxpayer may litigate a tax dispute without first paying the tax in the:
2. (TCO F) A business bad debt is deductible for tax purposes as a(n):
3. (TCO I) Under the cash method of tax accounting, tax deductions are generally taken when:
4. (TCO A) Which of the following constitutes tax evasion?
5.

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