WEEK 1 INDIVIDUAL ASSIGNMENT
2-39 Filing status, dependency Exemptions, and child credit.
For the following taxpayers, indicate which tax form should be used, the applicable filing status, and the number
of personal and dependency exemption
Kelly and Chanelle Chambers, ages 47 and 45, are married and live at 584 Thoreau Drive,
Boston, MA 59483. Kellys Social Security number is 254-93-9483 and Chanelles is 374-482938. The Chambers have two children: Emma, age 23, and Chet, age 19. Their Socia
Nikki williams- Week 4 Individual Assignment
5-34: Basis of Property Received as a Gift.
Doug receives a duplex as a gift from his uncle. The uncles basis for the duplex and land is $90,000. At the time
of the gift, the land and building have FMVs of $40,
Nikki Williams- Week 5 Individual Assignment
6-42: Timing of Expense Recognition.
Solutions Corporation, a computer vendor and consulting company, uses the accrual method of accounting. Its tax
year is the calendar year. The following are three of the cor
At the beginning of the current year, Donna Harp was employed as a cinematographer by
Farah Movie, Inc., a motion picture company in Los Angeles, California. In June, she accepted a
new job with Ocala Production in Orlando, Florida. Donna is single and he
3-42: Rental Income
Ed owns Oak Knoll Apartments. During the year, Fred, a tenant, moved to another state. Fred
paid Ed $1,000 to cancel the two-year lease he had signed. Ed subsequently rented the unit to
Wayne. Wayne paid the first and last months rents
Income Tax Regulations
The Executive branch of government is responsible for enforcing tax laws and
interpreting tax laws. Income tax regulations are also known as Treasury tax regulations.
Regulations or Treasury decisions carry the most weight in the Ex
Nikki Williams- Individual Assignment Week 2
Part A: Questions
1. Circular 230 applies to all public communications such as Attorneys, CPA's, enrolled
agents, enrolled actuaries, retirement plan agents and appraisers.
2. The best suggested practices for t
Recognizing and Minimizing Tort and Regulatory Risk Plan The purpose of this assignment is to prepare a plan that outlines how the regulatory risks such as tort liability can be identified and managed through preventive, detective, and corrective measures
Xan Hopwood April 19, 2010 ACC 556
1.) Section I: The impact of occupational fraud and abuse on the company. The impact of work-related fraud and abuse on the company can be overwhelming. Fraud can decrease the revenues of any organization. There ca
Sale of Assets Received as a Gift and Inherited. Daniel receives 400 shares of A&M Corporation stock from his aunt on May 20, 2009, as a gift when the stock has a $60,000 FMV. His aunt purchased the stock in 2002 for $42,000. The taxable gift is $6