Acct412 instructor posed 2

Acct412 instructor posed 2 - not sure I complete understand...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Christina DiGusto L23599763 16 th Aug. 2011 Module 8 Instructor Posed RE: Over the past eight weeks we have discussed the integration of our faith within the tax system, and in particular those areas that seem to cause conflict (i.e. the grey areas). You have now completed the tax returns, or are almost finished. What areas do you feel are the most difficult, and for those who have you been preparing tax returns, have you found an area that you were handling incorrectly? The greyest area I have come across was with estate and death taxation. I understand the concept, but I can see how it can be cause a conflict. This is where one needs to make sure he or she has a tax plan. Gift taxes, donor, etc. can be abused or mistreated if not done properly. I am
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: not sure I complete understand how this works when there is a surviving spouse when it is tied to a corporation. There are many tax loop holes and this is where it gets confusing sometimes. One can take a credit, but is not allowed. One needs to do a lot of research when filing taxes on his or her own. If the widow does not know how to hand the tax return when it comes to the S corporation, he or she could not have an accurate tax return that would end up owning more money with penalties. When it comes to stocks and retirement with the company of the deceased spouse was working for or was an owner....
View Full Document

This note was uploaded on 08/21/2011 for the course ACCT 412 taught by Professor D during the Summer '11 term at Lee.

Ask a homework question - tutors are online