Questions from Taxation

Q: Discuss potential differences in content and style between a research memo and

Discuss potential differences in content and style between a research memo and a client letter communicating research results.

Q: Why is tax research necessary? In other words, why is

Why is tax research necessary? In other words, why is it not possible for experienced tax professionals to answer all tax questions without performing tax research?

Q: One of your clients is planning to sell a piece of raw

One of your clients is planning to sell a piece of raw land and expects to incur a substantial gain on the sale. He has asked you to determine whether this gain will be considered capital gain or ordi...

Q: Bontaine Publications, an accrual basis, calendar year corporation, publishes

Bontaine Publications, an accrual basis, calendar year corporation, publishes and sells weekly and monthly magazines to retail bookstores and newsstands. The sales agreement provides that the retailer...

Q: Consider the following opportunities: Opportunity 1 requires a $4,

Consider the following opportunities: Opportunity 1 requires a $4,000 cash payment now (year 0) but will result in $14,000 cash received in year 5. Opportunity 2 requires no cash outlay and results in...

Q: Micro, an accrual basis corporation, reported $505,100

Micro, an accrual basis corporation, reported $505,100 net income before tax on its financial statements prepared in accordance with GAAP. Micro’s records reveal the following information: Micro paid...

Q: Find Rev. Rul. 72-542, 1972-2

Find Rev. Rul. 72-542, 1972-2 C.B. 37, and answer the following questions. The purpose of these questions is to enhance your skills in reading and interpreting authorities that you locate while doing...

Q: Find a 2006 10th Circuit Court of Appeals decision involving Roger L

Find a 2006 10th Circuit Court of Appeals decision involving Roger L. Watkins and answer the following questions. The purpose of these questions is to enhance your skills in reading and interpreting a...

Q: Cheap Trade, an accrual basis, calendar year corporation, operates

Cheap Trade, an accrual basis, calendar year corporation, operates a discount securities brokerage business. Cheap Trade accepts orders to buy or sell marketable securities for its customers and charg...

Q: Refer to the facts in question 9. Using an electronic research

Refer to the facts in question 9. Using an electronic research database such as Checkpoint, CCH Intelli Connect, or LexisNexis, run the keyword searches you proposed in question 9. Include both primar...