Exam_1_Review - Welch Ordinary and Necessary Business...

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1 UCF Tax 6065 Exam 1 Review
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2 Outline Discussion of Case #1 Review of Prior Worksheets/In-Class Assignments Review of Benchmark Case Presentations Exam Coverage Tax Analyst Website
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3 Case #1 What do you think? Venting time. Private Letter Rulings Field Service Advice General Counsel Memorandums
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4 Prior Assignment Highlights Conway Twitty Rule 155 Precedential value of case MSA Friend Differences between MBA and MSA Additional Info needed Other Options In-class Assignment 2 - demutualization Open Transaction Doctrine Court decision versus IRS position
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5 Benchmark Cases Macomber Definition of Gross Income Gregory Business Purpose Substance over Form Sham Transaction Doctrine Cohan Cohan Rule
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6 Benchmark Cases Earl and Horst Assignment of Income
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Unformatted text preview: Welch Ordinary and Necessary Business Expenses Thor Power Accounting Method – Clearly Reflects Income Inventory – lower of cost/market 7 Exam Topics Interpret Primary Authority - examples IRC §162(a) Rev. Ruling 57-47, 1957-1 CB 23 Clark, Edward, 40 B.T.A. 333 (1939) Benchmark Cases Doctrine Established Application of Doctrine 8 Exam Topics Research tools/resources available CCH/RIA/West Primary vs. Secondary Authority Steps in the Research Process Identify Issues and Interpret Authority 9 Tax Analysts www.taxanalysts.com Username: Donna Bobek Password: Professor Primary authority available Tax Notes...
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  • Spring '08
  • Kelliher,C
  • statute, Conway Twitty, Primary authority, Benchmark Cases, Interpret Authority, Benchmark Case Presentations

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Exam_1_Review - Welch Ordinary and Necessary Business...

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