Unformatted text preview: CHAPTER FIVE 1) Ordinary, Necessary and Reasonable Requirements for expense deduction 2) Disallowance Possibilities – against public policy, lobbying, executive compensation, etc. 3) Related Party Transactions 4) Business Investigation Expenses, amortization of start-up costs 5) Domestic Production Activities Deduction 6) Charitable Contributions 7) Depreciation – MACRS, Sec 179, Luxury Auto Limits 8) Amortization CHAPTER SIX 1) Bad Debt Expense 2) Worthless Securities – including Section 1244 3) Casualty Losses 4) Net Operating Loss 5) At-Risk Rules 6) Passive Loss Limitations (definition, loss limitations) 7) Rental Real Estate Exception to Passive Loss Limits NOTE: YOU WILL BE GIVEN THE TAX RATE SCHEDULES, AND THE DEPRECIATION TABLES. AS A REMINDER, YOU ARE ALLOWED TWO 8 1/2" BY 11" PAGE OF NOTES (YOU CAN USE THE BACK AND THE FRONT). YOU NEED A BROWN SCAN-TRON....
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- Spring '10
- Progressive Tax, Taxation in the United States