ACC 455 All Weeks Participations

Entire Course Download Link

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 ACC/455

CORPORATE TAXATION

 

The Latest Version A+ Study Guide

 

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ACC 455 All Weeks Participations Link
 

https://uopcourses.com/category/acc-455-participations/

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ACC 455 Week 1 Participations

Prentice Hall’s Federal Taxation, Ch. 1

Read pp. 1 to 24 in your textbook Prentice Hall’s Federal Taxation (29th ed).

 

 Prentice Hall’s Federal Taxation, Ch. 15

Read Ch. 15 of your textbook Prentice Hall’s Federal Taxation (29th ed)

 

Role of IRS and Courts

 

Students, after reading chapter 15, discuss the role of the IRS and Courts. How are these related to tax research?

 

 Prentice Hall’s Federal Taxation, Ch. 2

Read Ch. 2 of your textbook Prentice Hall’s Federal Taxation (29th ed).

 

Students, after reading chapter 2, discuss tax advantages and disadvantages of each business entity form, including examples from research or personal experience.

 

 Moyer’s and Company: NO to Tax Dodgers, YES to Fair Play

Watch the “Moyer’s and Company: NO to Tax Dodgers, YES to Fair Play” video

 

Students, after viewing the video, discuss thoughts? What were the main topics presented.

 

 
 

 

 
 

ACC 455 Week 2 Participations

Prentice Hall’s Federal Taxation, Ch. 3

Read Ch. 3 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Fiscal Years and Accounting Methods

Students, when forming a business, there are many decisions to make. Let’s discuss:  What are the tax year options available to a corporation? What about unincorporated companies? Is there a difference and, if so, why? What factors should be considered in electing the tax year? What methods of accounting are available to a small business and to a large business? If the business decides to make an accounting method change, how is this accomplished?

 

 

Prentice Hall’s Federal Taxation, Ch. 2
 

Review Ch. 2 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Book-to-Tax Accounting Differences

What is the difference between journal entries and adjustments? How do you know which process to use and why?

 

 

Prentice Hall’s Federal Taxation, Ch. 2
 

Review Ch. 2 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Section 351

Students, let’s discuss another topic: Section 351

Section 351 can be advantageous to owners because it reduces tax liability. Can you describe Section 351? What are the advantages and disadvantages? How do you calculate value?  Discuss the concept of boot?

 

 

 

ACC 455 Week 3 Participations

Prentice Hall’s Federal Taxation, Ch. 9

Read Ch. 9 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Partnerships

Students, let’s discuss the tax law requirements to form a partnership and the different types of partnerships. Include in your discussion the difference in income items and items that are separately stated. Discuss the calculation of the owners’ distributive share and basis.

 

Prentice Hall’s Federal Taxation, Ch. 9

Read Ch. 9 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Article

Let’s add what makes a good partner? One disadvantage of forming a partnership is having to deal with the human issues that come with partnerships. See the attached article and give comments. The interesting thing is that this article was written in the 1981. Do the concepts hold true today? If so, what advantage does the business entity provide that outweighs the risks?

http://www.inc.com/magazine/19810701/9172.html

 

Prentice Hall’s Federal Taxation, Ch. 9

Read Ch. 9 of your textbook Prentice Hall’s Federal Taxation (29th ed)

Case Study

Here is the case study for week 3. Please apply the concepts found in the week’s reading by responding to the questions.

Court Case Briefs

U.S. v. D. N. Stafford, 727 F.2d 1043 (11th Cir., 1984) rev’g. 552 F.Supp 311 (DC GA, 1982).

The taxpayer received a partnership interest in exchange for a letter of intent for the purchase of property. This letter of intent was held to qualify as a contribution of property in exchange for an interest in the partnership. Therefore, the nonrecognition treatment of Sec. 721 was applicable to the receipt of the partnership interest. It was held that the property and exchange requirements of Sec. 721 were satisfied. This decision was based on a finding that the letter of intent encompassed a sufficient bundle of rights and obligations to be deemed property. The exchange requirements were met because the letter was owned by the taxpayer as an individual and because individual members of the transferee partnership did not have to agree to the transfer for an exchange to occur.

What is Section 721 and how does it provide benefit to a partnership?

What are your thoughts on the ruling?

What is the value of the letter?

Finally, would the ruling be different if made in the courts today?

Reference:

Anderson, E., Pope, R., Kramer, L. (2010) Prentice Hall’s Federal Tax 2010: Corporations, 23/E. Prentice Hall, New Jersey

 

 

Prentice Hall’s Federal Taxation, Ch. 11
 

S Corporations

Students, what are the tax law requirements to form a S Corporation. Include in your discussion the difference in income items, specifically; highlight which items are separately stated. Finally, discuss the calculation of the owners’ distributive share and basis. Why is this important?

 

 

Corporate Structure and Taxation
 

Video Discussion

Students, watch the video and discuss.

 

 

 

Homework Team Assignment
 

 

Week 3 Adjustments
 

Students, lets discuss the team assignment. I want to focus on the tax adjustments. Does someone want to pick one of them and discuss. Be sure to identify which one you are discussing. Where did you get the information for the adjustment?  What is the amount of the adjustment? Was this a given amount or did you calculate it? If the amount is not given, how did you calculate it or find the amount that should be booked?  What is the theory around the adjustment? Please focus the discussion to these questions.

 

 

 

ACC 455 Week 4 Participations

Prentice Hall’s Federal Taxation, Ch. 4

Earnings and Profits Calculation

Students, when considering how much to pay out in dividends, companies use financial information. One option is to compute earnings and profits, which is specific calculation different than what is presented in the financial statements. Can you discuss how to 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?

 

 

 

Prentice Hall’s Federal Taxation, Ch. 6
 

Distributions and Terminations

Students, let’s discuss distributions and terminations. What is the difference between liquidating and nonliquidating distributions? How are gains and losses booked? Also, discuss voluntary and involuntary termination of an S corporation.

 

 

Prentice Hall’s Federal Taxation, Ch. 10
 

Partnerships

Students, let’s discuss partnerships. Discuss Basis and why it is important to understand.

 

 

 

 

ACC 455 Week 5 Participations

Prentice Hall’s Federal Taxation, Ch. 5

AMT and other Tax Adjustments

Students, let’s start by discussing alternative minimum tax (AMT). What is it and when is it required?

 

 

Prentice Hall’s Federal Taxation, Supplemental
 

State Tax Activities and Ethics

Students, for this discussion thread, you may discuss the supplemental reading on state activites. I also wanted to bring ethics into our discussion. How does ethics play into this class. Please discuss the role of ethics. You are encouraged to share professional experiences or thoughts.

 

 
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