Questions from Taxation

Q: Using an electronic library such as Checkpoint, CCH Intelli Connect,

Using an electronic library such as Checkpoint, CCH Intelli Connect, or LexisNexis, find a federal tax case in which the taxpayer is found guilty of tax evasion. After reading the case, list the behav...

Q: Margo, a calendar year taxpayer, paid $580,000

Margo, a calendar year taxpayer, paid $580,000 for new machinery (seven-year recovery property) placed in service on August 1, 2017. a. Assuming that the machinery was the only tangible property place...

Q: Using an electronic research database such as Checkpoint, CCH Intelli Connect

Using an electronic research database such as Checkpoint, CCH Intelli Connect, or LexisNexis, do a keyword search that includes both the phrase capital gain and the keyword livestock. Include both pri...

Q: In researching a tax issue, you locate the case Stern,

In researching a tax issue, you locate the case Stern, Sidney B. & Vera L., 77 T.C. 614, which seems relevant to your issue. However, before completing your research check the Citator for subsequent i...

Q: Using an electronic library such as Checkpoint, CCH Intelli Connect,

Using an electronic library such as Checkpoint, CCH Intelli Connect, or LexisNexis, determine how many federal tax cases decided in 2017 contain the phrase step transaction.

Q: Find the IRS website and locate the following items: a

Find the IRS website and locate the following items: a. Find the IRS publication dealing with moving expenses. What is its publication number? b. Find the IRS publication providing tax information rel...

Q: Find the website for the U.S. Treasury Department and

Find the website for the U.S. Treasury Department and report its URL. Who is the current secretary of the Treasury? Find the equivalent of the U.S. Treasury Department for one of the following countri...

Q: In 2018, Firm L purchased machinery costing $21,300

In 2018, Firm L purchased machinery costing $21,300 and elected to expense the entire cost under Section 179. How much of the expense can Firm L deduct in each of the following cases? a. Its taxable i...

Q: In 2017, Company W elected under Section 179 to expense $

In 2017, Company W elected under Section 179 to expense $19,300 of the cost of qualifying property. However, it could deduct only $15,000 of the expense because of the taxable income limitation. In 20...

Q: Loni Company paid $527,000 for tangible personality in 2017

Loni Company paid $527,000 for tangible personality in 2017 and elected to expense $510,000 of the cost (the limited dollar amount for 2017). Loni’s taxable income before a Section 179 deduction was $...