Questions from Federal Taxation

Q: Mona viewed herself as a creative individual who had chosen to go

Mona viewed herself as a creative individual who had chosen to go to law school for economic reasons. Mona's undergraduate majors were creative writing and American Indian studies. Mona was very succe...

Q: Sarah was contemplating making a contribution to her traditional IRA in 2017

Sarah was contemplating making a contribution to her traditional IRA in 2017. She determined that she would contribute $5,000 in December 2017, but forgot about making the contribution until she was p...

Q: On August 31, 2017, Harvey and Margaret who file a

On August 31, 2017, Harvey and Margaret who file a joint return and live in Charleston, South Carolina, sell their personal residence, which they have owned and lived in for 10 years. The realized gai...

Q: The $1 million maximum compensation deduction does not seem to have

The $1 million maximum compensation deduction does not seem to have deterred large corporations from remunerating their executives at very high levels. What techniques are being used to work around th...

Q: Your client, Dave's Sport Shop, sells sports equipment and clothing

Your client, Dave's Sport Shop, sells sports equipment and clothing in three retail outlets in New York City. During 2018, the CFO decided that keeping track of inventory using a combination of QuickB...

Q: Locate a financial calculator program that assesses the wisdom of buying versus

Locate a financial calculator program that assesses the wisdom of buying versus leasing a new car. Install the program on your computer, and become familiar with it. Use the program to work through Pr...

Q: Your client, a large construction firm organized as a C corporation

Your client, a large construction firm organized as a C corporation, allows certain employees (including the president of the corporation) to use in company-owned airplane for nonbusiness flights. The...

Q: Prepare a blog post for the "Online Tutor Match Company"

Prepare a blog post for the "Online Tutor Match Company" to explain to its freelancers the tax implications of their work. Topics should include (1) what records to keep (both for income and expenses)...

Q: Download IRS Form 1099- K and its instructions from the IRS

Download IRS Form 1099- K and its instructions from the IRS website. What is the purpose of the form, and when is it used? Go to the Square, Inc. website (www.squareup.com) and search for information...

Q: Analyze S. 1549 (115th Congress) introduced by Senator John

Analyze S. 1549 (115th Congress) introduced by Senator John Thune to provide a new approach to provide freelance ("gig") workers independent contractor status. Also see his press release of July 13, 2...