Questions from Federal Taxation

Q: What is Congress trying to accomplish with the use of tax credits

What is Congress trying to accomplish with the use of tax credits? Provide an example of a tax credit and Congress’s purpose for creating it.

Q: What tax credits are allowed for AMT purposes?

What tax credits are allowed for AMT purposes?

Q: While snorkeling on spring break in Cancun, Melody finds a small

While snorkeling on spring break in Cancun, Melody finds a small bag containing several jewels lodged between some rocks about 25 yards offshore. She reports the find to the local authorities. Howev...

Q: Nina is the auditor for Geiger Construction, a local builder.

Nina is the auditor for Geiger Construction, a local builder. Geiger recently renovated a historic building in downtown Kingston. The building, which consists of 5 shops, is owned by the Restoring H...

Q: Jingling Corporation is wholly owned by Jing and Ling, who are

Jingling Corporation is wholly owned by Jing and Ling, who are residents of Japan. Jingling is located in Nebraska and produces home furniture. Jingling sells its furniture directly to final custome...

Q: Assume the same facts as in problem 98, except that Jingling’s

Assume the same facts as in problem 98, except that Jingling’s royalty income is from investments located in Japan. Data from Problem 98: Jingling Corporation is wholly owned by Jing and Ling, who ar...

Q: Use the Internet to find articles or discussions about planning aspects of

Use the Internet to find articles or discussions about planning aspects of Roth IRAs and regular IRAs. Trace the steps you use to find additional information (search engine or tax directory used and...

Q: The Alternative Minimum Tax remains a very controversial item that affects a

The Alternative Minimum Tax remains a very controversial item that affects a greater number of taxpayers each year. Go to http://en.wikipedia.org/wiki/Alternative_Minimum_Tax and read through the wik...

Q: Genco Company is a small manufacturing company that makes metal presses for

Genco Company is a small manufacturing company that makes metal presses for larger manufacturing companies. Genco is located in a large city and desires to expand its operations, which will require i...

Q: The United States and the country of Bersia are about to enter

The United States and the country of Bersia are about to enter into a tax treaty. The U. S. is especially interested in establishing a treaty because many U. S. students attend medical school in Ber...