Questions from Federal Taxation


Q: Do depreciation deductions vary by entity type or by industry? Go

Do depreciation deductions vary by entity type or by industry? Go to the IRS Tax Statistics page (irs.gov/statistics), and review the spreadsheets containing data for corporations, partnerships, and n...

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Q: Analyze S. 700 (116th Congress) introduced by Senator John

Analyze S. 700 (116th 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 March 7, 20...

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Q: Kathy and Brett Ouray married in 2003. They began to experience

Kathy and Brett Ouray married in 2003. They began to experience marital difficulties in 2017 and, in the current year, although they are not legally separated, consider themselves completely estranged...

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Q: Your client Murray reported to the Environmental Protection Agency that his employer

Your client Murray reported to the Environmental Protection Agency that his employer was illegally dumping chemicals into a river. His charges were true, and Murray’s employer was fined. In retaliatio...

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Q: How do U.S. individuals generate their income? Does

How do U.S. individuals generate their income? Does it vary by size of income (AGI)? Go to the IRS tax statistics website (irs.gov/statistics), and download a recent tax year’s information on “sources...

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Q: Visit the websites of a few public accounting firms to learn how

Visit the websites of a few public accounting firms to learn how they are using data analytics and visualization in the tax function. In an e-mail to your instructor, explain what you found, provide t...

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Q: Jeff and Rhonda are married and have two children, Max and

Jeff and Rhonda are married and have two children, Max and Jen. Max is 20, attends college in the Los Angeles area full-time, and works as a stunt double for a television show while he is in school. M...

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Q: Katherine and Bill Grant have two children. Kelly is 22 years

Katherine and Bill Grant have two children. Kelly is 22 years old and is a full-time student. She lives on campus at an out-of-state university but will return home for the summer. Kelly earns $5,000...

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Q: Compute the 2021 tax liability and the marginal and average tax rates

Compute the 2021 tax liability and the marginal and average tax rates for the following taxpayers (use the 2021 Tax Rate Schedules in Appendix A for this purpose): a. Chandler, who files as a single t...

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Q: Bill and Anne Chambers are married and file a joint return.

Bill and Anne Chambers are married and file a joint return. They have no children. Their college friend Ryan lived with them for the entire current tax year. Ryan is 40 years old and earned $2,000 at...

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