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Quiz #2 Answers

Quiz #2 Answers - 1 (...

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1. Technical tax articles found in professional tax journals (rather than popular magazines like  Money Magazine) are a terrific research aid. CCH publishes "Taxes-The Tax Magazine."  Browse this journal and choose the title of an article that appears in the December 2008 issue  of TAXES. A.  Bargain Sales: Traps for the Unwary B.  1, 61, 83 Pay Me with Your E-qui-ty C.  Self-Employment Tax and Limited Liability Companies: When are LLC Earnings Subject to  Self-Employment Tax? D.  None of the Above Response: A Answer: A Points: 1 / 1 2. Browse the tax treaty section. Does the U.S. have a treaty with Ireland? A.  Yes, two--the income tax treaty and the estate tax treaty. B.  Yes, the income tax treaty C.  Yes, the estate tax treaty. D.  No. Response: A Answer: A Points: 1 / 1 3. Browse the "Standard Federal." How is it organized? A.  Alphabetically by topics  B.  Numberically by Internal Revenue Code Section numbers Response: B Answer: B Points: 1 / 1 4. Using the Standard Federal, click on Deductions-Secs. 161-249 and then click on Interest- Sec. 163. You should see a list of documents related to the deduction of interest expense.  There are various types of documents. Select the choice that places the following documents 
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