Questions from Individual Taxation


Q: From a nontax perspective, what issues does an employee need to

From a nontax perspective, what issues does an employee need to consider in deciding whether to defer compensation under a nonqualified deferred compensation plan or to receive it immediately?

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Q: When determining whether a dwelling unit is treated as a residence or

When determining whether a dwelling unit is treated as a residence or nonresidence for tax purposes, what constitutes a day of personal use and what constitutes a day of rental use?

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Q: What are reasons why companies provide nonqualified deferred compensation plans for certain

What are reasons why companies provide nonqualified deferred compensation plans for certain employees?

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Q: How can companies use deferred compensation to avoid the §162(

How can companies use deferred compensation to avoid the §162(m) limitation on salary deductibility?

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Q: Are employees or self-employed taxpayers more likely to qualify for

Are employees or self-employed taxpayers more likely to qualify for the home office deduction? Explain.

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Q: How might the ultimate benefits to an employee who participates in a

How might the ultimate benefits to an employee who participates in a qualified retirement plan of a company differ from an employee who participates in a nonqualified deferred compensation plan of the...

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Q: For taxpayers qualifying for home office deductions, what are considered to

For taxpayers qualifying for home office deductions, what are considered to be indirect expenses of maintaining the home? How are these expenses allocated to personal and home office use? Can taxpayer...

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Q: Describe the circumstances in which it would be more favorable for a

Describe the circumstances in which it would be more favorable for a taxpayer to contribute to a traditional IRA rather than a Roth IRA and vice-versa.

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Q: Is there a limit to how much an employer and/or

Is there a limit to how much an employer and/or employee may contribute to an employee’s defined contribution account(s) for the year? If so, describe the limit.

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Q: What are the requirements for a taxpayer to make a deductible contribution

What are the requirements for a taxpayer to make a deductible contribution to a traditional IRA? Why do the tax laws impose these restrictions?

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