Embery MBAA667 all weeks discussions and assignments
Embery MBAA667 all weeks discussions and assignments
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Embery MBAA667 all weeks discussions and assignments
Embery MBAA667 Module 14 Discussion latest
14 Discussion: Tax
Research
21 21 unread replies
85 85 replies
Discussion Keyboard
Key
Class discussions are
an integral part of your learning in this course and the selected topics or
questions will help sharpen your critical thinking and written communication
skills as you study Federal Taxation The graded discussions focus on tax
research
Twenty (20) percent of
your course grade will come from your responses to these discussions based on
your tax research submitted on time and as directed in the appropriate
discussion forum A portion of the grade will come from responses to your peers
Tax Research
Go to the US Tax Court
website wwwustaxcourtgov (Links to an external site) and spend some time
exploring the website
What type of
information can be found on the site?
Find a recent summary
opinion or a memorandum decision
Briefly, describe the
principal issue in the case and explain the Tax Court’s decision
Discuss the most
significant points of the case
Attach the PDF file of
the summary opinion or the memorandum decision
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Note: Discussion
rubrics may be accessed by selecting the gear icon gearjpg above and choosing
“show rubric” from the drop-down menu
Embery MBAA667 Module 23 Discussion latest
23 Discussion: Gross Income
4343 unread
replies6464 replies
Various Federal
stimulus provisions were designed to assist state and local governments in
borrowing funds, leveraging the gross income exclusion for such bond interest
so that such jurisdictions would have increased access to funds One of the
justifications for these provisions was that state and local governments cannot
run budget deficits and cannot “print money,” so the recent recession put them
in a difficult cash-flow position
Audits of the use of
these borrowed funds showed that some of the bond proceeds were used by the
jurisdictions to participate in “public-private partnerships,” where government
funds were used to assist private entities in expanding in or relocating to the
jurisdiction Specifically, bond proceeds were found to have been used to
provide targeted road-building and utility construction projects to benefit
large commercial entities
1 Is this an
appropriate use of the gross income exclusion for state and local bond
interest? Why or Why not?
2 Read the posts of your
classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Embery MBAA667 Module 33 Discussion latest
33 Discussion: Deductions and Losses
5454 unread
replies6767 replies
Earlier this year,
Troy and Ann Hatten, two successful airline pilots made a cash investment for a
limited partnership interest in a Florida orange grove farm In addition to the
cash obtained from investors, the grove’s management borrowed a significant
amount of money to purchase the assets required to operate the farm The
Hatten’s investment adviser pointed out that their tax loss for the first year
would be more than their initial cash investment The next several years would
bring more losses The Hatten’s feel confident about their investment in the
orange grove
1 Identify and discuss
in detail the tax issues facing the Hattens
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Embery MBAA667 Module 43 Discussion latest
43 Discussion: Property Transactions
5858 unread replies6969
replies
John started
collecting model airplanes when he was just a young boy His collection consists
of over 500 model airplanes, most of which were received as birthday gifts He
is retiring this year and needs to downsize, therefore, he has decided to sell
his collection He lists the model airplanes on an Internet auction site and
receives an offer of $50,000 for the model airplane collection John sells the
entire collection, except for the 3 newest airplanes purchased in the last year
The remaining airplanes had all been owned by John for over a year
1 Discuss the tax
factors John needs to consider in deciding how to report the sale
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit, respond
to at least two of your classmates in the forum by the posted due date Review
the grading rubric for detailed grading requirements
Embery MBAA667 Module 53 Discussion latest
53 Discussion: Individual Taxation
4646 unread
replies7272 replies
Mark and Amy Hatten,
live in Pensacola, FL and have recently been experiencing problems with their
marriage They have a 4-year-old daughter, Victoria who stays with Mark’s
parents during the day, while both parents work Amy worked to support Mark
while he attended flight school, and now she has been accepted to flight school
in Melbourne, FL Amy has decided to divorce Mark She will move to Melbourne, FL
and attend flight school Victoria will stay in Pensacola, FL because she is
very attached to her grandparents and needs the excellent child care they
provide Amy knows that Mark will expect her to contribute costs associated with
raising Victoria Amy also feels she needs to receive cash for her share of the
property accumulated during the marriage, in order to finance flight school She
also feels she should receive some reimbursement for her support of Mark while
he was in flight school Divorce proceedings are expected to take several months
1 Identify the
relevant tax issues for Amy
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Embery MBAA667 Module 63 Discussion latest
63 Discussion: Corporate Taxation
4949 unread
replies5959 replies
Vivian and her
daughter Ivy have been working together in a spa called “Viva Bien” Vivian
formed the business in 2001 as a sole proprietorship The business has become
very successful over the years and Vivian’s tax accountant is recommending that
she incorporate the business Business assets have a fair market value of
$550,000 and a basis of $280,000 Vivian would like to give shares of stock to
Ivy, because of her participation in the business
1 What are the
relevant tax issues?
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Embery MBAA667 Module 73 Discussion latest
73 Discussion: Corporate Distributions and S Corporations
4040 unread
replies6262 replies
Shannon Lundy is a 50%
shareholder in Wing & Ground, Inc, an S corporation This year her share of
Wing & Ground’s operating loss is $195,000 Shannon has income from several
other sources
1 Identify and discuss
the tax issues related to the effects of the S corporation loss on Shannon’s
tax report?
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Embery MBAA667 Module 83 Discussion latest
83 Discussion: Partnership Taxation
3838 unread
replies6060 repliesThe Vivori, LLC distributes the following assets to its
member, Victoria:
·
$20,000 cash
·
Inventory valued at
$20,000 and a $10,000 basis to the entity
·
Land with a $30,000
value and a $35,000 basis to the entity
1 What issues must be
considered in determining the Federal income tax treatment of the distribution?
2 Read the posts of
your classmates on their chosen summary opinion or memorandum decision and
reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Embery MBAA667 Module 93 Discussion latest
92 Discussion: Court Decisions
2222 unread
replies6868 replies
1 In considering the
validity of a prior court decision, assess the significance of the following
independent scenarios and post your conclusions:
a A decision was
rendered by the US District Court of Wyoming, the state in which the taxpayer
lives
b A decision was
rendered by the Court of Federal Claims The taxpayer lives in Wyoming
c A decision was
rendered by the Second Circuit Court of Appeals The taxpayer lives in
California
d A decision was
rendered by the Supreme Court
e A decision was
rendered by the Tax Court The IRS has acquiesced in the results
f A decision was
rendered by the Tax Court The IRS has non-acquiesced in the result
2 Read the posts of
your classmates and reply to at least two of your peers
3 Review the rubric
which will be used to evaluate each discussion board posting for this course
It is highly
recommended that you submit your initial post by midweek Posting in a timely
manner offers your classmates sufficient opportunity to respond to you in this
discussion
For full credit,
respond to at least two of your classmates in the forum by the posted due date
Review the grading rubric for detailed grading requirements
Research Problems
Research problems are
designed to help you develop better professional research, writing, and
critical thinking skills
Action
Using the Web or an
online tax library, find one instance of each of the following:
·
Letter Ruling
·
Action on Decision
·
IRS Notice
·
Revenue Ruling
·
Revenue Procedure
·
Code Section
·
Tax Regulation
·
Tax treaty
·
Tax Court Summary
Opinion
·
Tax Court Regular
Decision
Give the full citation
and a brief summary of the item
Format
Your document must be
formatted in current APA style It will be checked throughTurnitin a service
that checks your work for improper citation or potential plagiarism by
comparing it against a database of web pages, student papers, and articles from
academic books and publications
Submission
Before submitting,
save your document using a naming convention that includes your first and last
name and the activity number (or description) Do not add punctuation or special
characters
Several years ago,
Vivian Wright exercised all of her stock options from a startup company she
helped to establish The stock options netted Vivian $100 million dollars Since
that time she has used an investment philosophy of steady, careful investment
in a diversified portfolio She generally buys and holds most of her stock for
over one year Each year she engages in multiple sales and purchases She buys
securities both for their growth potential and dividend payments Since her
investment activities have been taking up so much of her time, this year, she
rented a suite of offices, hired three investment advisers, and 2 secretaries
to help She also purchased several assets for the office, such as a new
computer and office furniture
Vivian is now seeking
some tax help Using the following partial list of research sources explain to
Vivian if her activities are considered a business or an investment activity
Please also, explain if the activities are deductions for or from AGI
·
Higgins v CIR, 25 AFTR
1160, 41-1 USTC § 9233 (USSC, 1941)
·
Estate of Louis
Yaeger, Deceased, Judith Winters, Ralph Meisels, Abraham J Weber and the Bank
of New York, 889 F2d 29, 89-2 USTC ¶ 9633(CA-2)
·
Fredrick Mayer and Jan
Perry Mayer, 67 TCM 2949 (1994)
·
Rudolph W and Abbie A
Steffler, 69 TCM 2940 (1995)
·
Sec, 179
Make sure to explain
the logic behind your decision
Format
Your document must be
formatted in current APA style It will be checked throughTurnitin, a service
that checks your work for improper citation or potential plagiarism by
comparing it against a database of web pages, student papers, and articles from
academic books and publications
Submission
Before submitting,
save your document using a naming convention that includes your first and last
name and the activity number (or description) Do not add punctuation or special
characters
Shawn Bernoulli formed
Bernoulli Air Corporation on January 3 and immediately made the S election effective
for year one Shawn contributed $50,000 in cash in exchange for 100% of
Bernoulli Air’s stock The corporation also obtained a bank loan for $75,000 to
help finance operations As is common with new businesses, Bernoulli Air had an
ordinary loss of $60,000 in year 1 and $12,000 ordinary loss for year 2
Additionally in year two, Shawn and his wife Jana divorced and as part of the
divorce settlement on March 31 of Year 2, Shawn gave Jana 50% of the Bernoulli
Air stock In the third year, business operations did much better The
corporation had earnings of $40,000 ordinary income
Using the following
partial list of research sources, help Shawn determine the tax consequences of
these events, in particular, the usage of the S corporation losses
·
IRC Sec 1366
·
Reg Sec 11366-2
Format
Your document must be
formatted in current APA style It will be checked through Turnitin, a service
that checks your work for improper citation or potential plagiarism by
comparing it against a database of web pages, student papers, and articles from
academic books and publications
Submission
Before submitting,
save your document using a naming convention that includes your first and last
name and the activity number (or description) Do not add punctuation or special
characters
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