Questions from Auditing and Assurance

Q: Rosie Corporation has 70% of the outstanding voting stock of Smith

Rosie Corporation has 70% of the outstanding voting stock of Smith Corporation and 10% of the voting stock of Tommy Corporation. Smith also just spent $10,000 to acquire 20% of Tommy’s voting stock....

Q: On January 1, the Hawaii Cancer Institute has received a promise

On January 1, the Hawaii Cancer Institute has received a promise from the Obama Foundation to receive a building that the Foundation recently appraised at $200,000. However, the building cost only $12...

Q: Determine the number of Treasury Regulations issued for each of the following

Determine the number of Treasury Regulations issued for each of the following Code sections. Provide a citation to the last Regulation for sections 101, 183, and 385.

Q: Find each of the following documents on the web: a

Find each of the following documents on the web: a. A copy of your state’s individual income tax form, similar to the federal 1040 tax form (if your state is one of the seven not having an income tax...

Q: Examine Treas. Reg. §1.183-2.

Examine Treas. Reg. §1.183-2. What Code section and language within that Code section does the Treasury Regulation interpret? What does the Treasury Regulation state are the nine relevant factors?

Q: Assume Sally is a professor who has a PhD in accounting and

Assume Sally is a professor who has a PhD in accounting and teaches tax courses. She decides that it would help her teaching to earn a law degree with a heavy emphasis on tax classes. Can she deduct t...

Q: Which Treasury Regulation provides rules for foreign-owned U.S

Which Treasury Regulation provides rules for foreign-owned U.S. corporations and foreign corporations engaged in a trade or business within the United States (reporting corporations)? What IRS form is...

Q: Find and read a Tax Court regular decision that discusses whether hair

Find and read a Tax Court regular decision that discusses whether hair transplants are deductible medical expenses. Give the official citation to the case. What did the Tax Court hold? If a case with...

Q: Use a tax research database to answer the following questions:

Use a tax research database to answer the following questions: a. Paraphrase Code Section 61(a)(4). b. Identify the topic of Code Section 166(d). c. Find the precise authority within the Code sectio...

Q: What tax case by the Supreme Court recognized same-sex marriage

What tax case by the Supreme Court recognized same-sex marriage?