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For more course tutorials visitwww.uophelp.comPlease check the Details under individual Assignments ACCT 553 Week 1 Homework ACCT 553 Week 2 Homework ACCT 553 Week 3 Homework ACCT 553 Week 3 Homework ES (Quiz, Set 1) ACCT 553 Week 3 Homework ES (Quiz, Set 2)ACCT 553 Week 4 Homework ACCT 553 Week 5 Homework ACCT 553 Week 5 Quiz ACCT 553 Week 6 Homework ACCT 553 Week 7 Homework ACCT 553 Final Exam (New)ACCT 553 Midterm ExamACCT 553 Week 6 Assignment You Decide ACCT 553 Week 4 Assignment You Decide

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Acct 553 endless education uophelp com

ACCT 553 Endless Education/Uophelp.Com

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Acct 553 endless education uophelp com1

ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Entire Course

For more course tutorials visit

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Please check the Details under individual Assignments

ACCT 553 Week 1 Homework

ACCT 553 Week 2 Homework

ACCT 553 Week 3 Homework

ACCT 553 Week 3 Homework ES (Quiz, Set 1)

ACCT 553 Week 3 Homework ES (Quiz, Set 2)

ACCT 553 Week 4 Homework


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Midterm Exam

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1. (TCO C) Under current accounting practice, intangible assets are classified as (Points: 5)

2. (TCO C) Which of the following intangible assets should not be amortized? (Points: 5)

3. (TCO C) The intangible asset goodwill may be (Points: 5)

4. (TCO C) ELO Corporation purchased a patent for $90,000 on September 1, 2008. It had a useful life of ten years. On January 1, 2010, ELO spent $22,000 to successfully defend the patent in a lawsuit. ELO feels that as of that date, the remaining useful life is five years. What amount should be reported for patent amortization expense for 2010? (Points: 5)


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ACCT 553 Endless Education/Uophelp.Com

ACCT 505 Entire Course (New)

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Chapter 1 (5 pts)

1. Briefly discuss the purpose of the Sixteenth Amendment

Chapter 2 (5 pts)

2. Explain the two "safe harbors" available to an Individual taxpayer to avoid a penalty for underpayment of estimated tax.

Chapter 3 (5 pts)

3. Explain the distinction between an "above the line" deduction (i.e. FOR AGI) and a below the line deduction (i.e.


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 2 Homework

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Chapter 4

1. Your brother is short on cash and cannot pay his rent this month. You pay his rent for him. Is this taxable income to your brother? Do you get a deduction? (2 pts)

2. Which of the following items would be excluded from income? (a) $100 bill found under the sugar caddy at the restaurant (b) Inheritance of a car from your grandmother valued at $5,000. (c) Loan from your father-in-law to start your business, (d) Child Support received totaling $16,500. (4 pts)

Chapter 5


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 3 Homework ES (Quiz Set 1)

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1. (TCO A) A taxpayer may litigate a tax dispute without first paying the tax in the:

2. (TCO F) A business bad debt is deductible for tax purposes as a(n):

3. (TCO I) Under the cash method of tax accounting, tax deductions are generally taken when:

4. (TCO A) Which of the following constitutes tax evasion?

5. (TCO C) Which of the following items is not subject to federal income tax?

6. (TCO B) Sam owes Bob $8,000. Bob cancels (forgives) the debt. The cancellation is


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 3 Homework ES (Quiz Set 2)

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Neither Bob nor Sam has any taxable income from this transaction.

4. Jane purchased an annuity contract that pays her $800 per month. The annuity cost her $50,000 and it has an expected return of $100,000. How much of each monthly annuity payment is includible in Jane's gross income?


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 3 Homework

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. Please describe "Active Participation" as it relates to a taxpayer's involvement in an investment in Real Estate. (5 pts).

Chapter 8

3. Macy had a lot of medical expenses this year that were3 not covered by her insurance (either due to a deductible, co-insurance, or co-pay). Her un-reimbursed qualifying medical expenses total $8,356 and her AGI for 2013 is $45,000. Assuming she will itemize on her 2013 tax return, how much of her medical expenses will she be able to deduct? (5 pts)

4. Heather & Terry have a mortgage on their primary residence


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 4 Assignment YouDecide

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How is the $300,000 treated for purposes of federal tax income?

Jane Smith Tax Issues:

(a) What are the different tax consequences between paying down the mortgage debt and assuming a new mortgage debt for federal income tax purposes?

(b) Should John and Jane file separate or joint tax returns?


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 5 Homework

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Chapter 14

1. Please explain how Charitable Contributions come into play in determining "Corporate" taxable income. (5 pts)

2. What happens to a loss on the Corporate Tax Return (Form 1120)? Does it pass through to the shareholders? Is it available for future or past periods? Please explain in detail. (5 pts.)

3. Please describe the purpose of Sch3edules M-1 and M-3. When is a Schedule M-3 required in lieu of a Schedule M-1. (5 pts.)

Chapter 17

4. Please define and differentiate a Spin


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 5 Quiz

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2. (TCO F) When comparing corporate and individual taxation, the following statements are true, except:

3. (TCO H) Al and Amy file a joint return for the 2012 tax year. Their adjusted gross income is $80,000. They had a net investment income of $8,000. In 2012, they had the following interest expenses

Personal credit card interest: $4,000

Home mortgage interest: $8,000

Investment interest (on loans used to buy stocks): $10,000

4. (TCO B) Charitable contribution deductions for capital gains property made by individuals without a reduction for long-term capital gains to public charities


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 6 Assignment You Decide

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ACCT 553 Week 6 You Decide

Mark, and John Case

Part I: Discuss the various forms of organization that are available to Penelope, Mark, and John

Part II: Make your recommendation as to what form of organization you believe will be best, and be sure to explain the reasoning for your choice.

Part III: Discuss the tax consequences of contributing cash, property, and/or services to the new entity.


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 6 Homework

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Miyasyke,Inc.,acalendaryearScorporation,hasfiveequalshareholdersattheendofthetaxyear.Miyasykehad

$75,000oftaxableincome.Miyasykemadedistributionsto itsshareholdersof$32,000each,foratotalof$160,000. Eachshareholder'sbasisin theScorporationis$100,000atthebeginningofthetaxyear.Whatamountfrom Miyasykeshould be includedin eachshareholder'sgrossincome?


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ACCT 553 Endless Education/Uophelp.Com

ACCT 553 Week 7 Homework

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Chapters 10-11-12

1. Please explain the distinction between a "realized" gain and a "recognized" gain. (5 pts)

2. Are there any limits to the deductibility of losses on sales and exchanges between related parties? What code section defines this limitation? (5 pts.)

3. What is the basis of property received (i.e. new property) in a like-kind exchange? What is the holding period for the new asset? (5 pts.)

4. David purchased stock in Zoll Corporation in


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ACCT 553 Endless Education/Uophelp.Com

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