SM_C01 - CHAPTER 1 AN INTRODUCTION TO TAXATION AND...

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CHAPTER 1 AN INTRODUCTION TO TAXATION AND UNDERSTANDING THE FEDERAL TAX LAW SOLUTIONS TO PROBLEM MATERIALS Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 1 Effect of state and local taxes on decision making Unchanged 1 2 History of Federal income tax Unchanged 2 3 Constitutio nality of Federal income tax for corporati ons Unchanged 3 4 Income tax as a ‘‘mass tax’’ Unchanged 4 5 Pay-as-you- go system Unchanged 5 6 Criteria for ‘‘good’’ tax system New 7 Proportiona l versus progressive tax Unchanged 7 1- 1
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1- 2 2009 Individual Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 8 Conversion of commerc ial realty to tax- exempt status and effect on ad valorem property tax Unchanged 8 9 Conversion of tax- exempt realty to commerc ial status and effect on ad valorem property tax Unchanged 9 10 Loss of charitabl e exemptio n on residenti al realty for ad valorem tax purposes New 11 Ad valorem tax on realty: effect of tax holiday Unchanged 11
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An Introduction to Taxation and Understanding the Federal Tax Law 1- 3 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 12 Ad valorem tax: effect of capital improve ments and conversi on to rental Unchanged 12 13 Ad valorem tax: assessme nt in terms of revenue producti on Unchanged 13 14 Excise taxes: hotel occupanc y and car rental Unchanged 14 15 Avoiding sales tax through use of out-of- state relative Unchanged 15 16 State and local sales tax holidays Unchanged 16 17 Avoiding local sales taxes Unchanged 17 18 Avoiding sales tax through Internet purchase Unchanged 18 19 Sales tax: selective applicati on as to items covered Unchanged 19
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1- 4 2009 Individual Volume/Solutions Manual Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 20 Federal transfer taxes: choice of gift or death transfers Unchanged 21 21 Federal gift tax: availabili ty of the marital deductio n for transfers between spouses Unchanged 22 22 Federal transfer taxes: justificati on for and applicati on of unified credit Unchanged 23 23 Federal gift tax: annual exclusio n Unchanged 24 24 Lifetime giving: justificati on for Unchanged 26 25 Income tax formula: individua ls and corporati ons compare d Unchanged 27 26 Application of jock tax Unchanged 28
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An Introduction to Taxation and Understanding the Federal Tax Law 1- 5 Status: Q/P Question/ Present in Prior Problem Topic Edition Edition 27 Piggyback approach of state income taxes Unchanged 29 28 State income tax return disclosur e of Internet purchase s; client refusal to answer tax return question and ethical implicati ons Unchanged 30 29 State income tax: character istics Modified 31 30 State amnesty programs New 31 FICA and FUTA contraste d Unchanged 32 32 FICA: applicati on to family Unchanged 33 33 FICA: limitatio n on wages covered New 34 Flat tax: justificati on for and obstacles to Unchanged 35
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1- 6 2009 Individual Volume/Solutions Manual Status: Q/P Question/ Present in Prior
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This note was uploaded on 10/28/2008 for the course ACCT 308 taught by Professor Kim during the Spring '08 term at CSU Fullerton.

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SM_C01 - CHAPTER 1 AN INTRODUCTION TO TAXATION AND...

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